OFAC (Office of Foreign Asset Control)

The part of the US Treasury Department responsible for enforcing United States economic and trade sanctions.

Related Terms

  • Payment Gateway

    A payment gateway is an application service provider that authorizes credit card, debit card and electronic check payments for businesses. A payment gateway facilitates the transfer of...

    Learn More

  • WEB (Internet Initiated Entries)

    A standard entry class code that enables an originator to debit a consumer’s account pursuant to an authorization obtained from the receiver via the internet.

    Learn More