Mountain Goat – Dinar Guru What are OFAC sanctions? The US Office of Foreign Assets Control (OFAC) is responsible for creating, implementing and enforcing the United States’ sanctions…All of the following types of financial transactions should be reviewed for OFAC compliance: Deposit (checking & savings) accounts, Loans, Credit Cards, Wire transfers, ACH transfers. …Iraq has already prepared themselves for the day when these sanctions will be lifted. But not yet.