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Glenn Hegar  ·  Texas Comptroller of Public Accounts

Foreign Asset Control Requirements

State agencies and institutions of higher education are subject to requirements from the U.S. Department of the Treasury Office of Foreign Assets Control (OFAC).

If you issue payments with local funds, be prepared to show how your procedures demonstrate due diligence with OFAC compliance if requested during an audit.

Glenn Hegar
Texas Comptroller of Public Accounts
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