Chief, Regulated Industries Oversight & Evaluation, Sanctions Compliance & Evaluation Division
Office of Foreign Assets Control (OFAC)
Rachel Dondarski is the Chief of Regulated Industries Oversight and Evaluation at the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) where she leads OFAC’s financial sector enforcement process. She manages the agency’s team responsible for investigating violations of U.S. economic sanctions laws committed by regulated financial institutions, including domestic and foreign banks, insurance companies, securities firms, and money services businesses. Prior to assuming this position, Ms. Dondarski was a senior advisor within OFAC’s Sanctions Compliance and Evaluation team, where she worked on some of OFAC’s largest and most complex financial sector investigations, led efforts to expand OFAC’s compliance-focused outreach to foreign financial centers, and routinely interacted with financial industry peers and government partners to discuss sanctions compliance and implementation issues. Since joining OFAC in 2006, Ms. Dondarski has worked in a variety of other roles, all with the common goal of promoting robust sanctions compliance within the financial services and international trade communities.
OFAC sanctions have evolved from targeting drug kingpins as part of the U.S. anti-money laundering program to targeting corrupt officials and human traffickers as part of foreign policy. The panel will discuss this evolution and what can be expected in the future.