A division of the US Department of the Treasury responsible for administering and enforcing economic and trade sanctions based on US foreign policy and national security goals. OFAC maintains and updates the Specially Designated Nationals (SDN) List and other sanctions lists, which financial institutions must screen against in real time. Violations of OFAC regulations can result in severe civil and criminal penalties, with enforcement actions often exceeding hundreds of millions of dollars. OFAC is widely regarded as the most influential sanctions authority globally, as its listings apply to all US persons and any transaction touching the US financial system, giving its sanctions global reach and extraterritorial impact.