 Upcoming PAISBOA Office Hours Programs
What You Need to Know about OFAC Sanctions Laws
Monday, April 13
1:00 pm
The April edition of the PAISBOA Office Hour will be partnered with AISGW for a webinar addressing OFAC Sanctions for Foreign Tuition Payments with Venable. PLEASE NOTE: This program has been moved from our usual Wednesday to Monday, April 13 beginning at 1:00 pm.
The program will feature attorneys from Venable LLC’s International Trade and Logistics Group, who will discuss the recent settlement between IMG Academy and the U.S. Treasury Department, and its relevance to our independent schools.
The Treasury Department’s Office of Foreign Assets Control (OFAC) recently imposed a fine of $1.75 million against IMG Academy for violations of U.S. sanctions laws related to its acceptance of tuition payments from foreign payees. U.S. sanctions are administered by OFAC, which sets forth regulations on dealings with embargoed countries and maintains the Specially Designated Nationals and Blocked Persons List (SDN List), which identifies individuals and entities with whom U.S. persons are generally prohibited from engaging in transactions.
In this matter, IMG Academy accepted tuition payments from parents who appeared on the SDN List due to their affiliation with a Mexican drug trafficking organization. Basic screening of parents and payors against the SDN List, or conducting routine due diligence, would likely have identified the sanctions risk.
You can register to join the conversation by clicking the button below.
LOOKING AHEAD!
PAISBOA Annual Data Survey Dashboard Preview
Wednesday, May 20
1:00 pm
Our May 20 meeting will feature a preview of the enhancements made to the PAISBOA Annual Data Survey’s 2026 platform. Please join us as Cindy Yancey from Dynamic Benchmarking will present an overview of the new dashboard features and how this will help you streamline your data entry as well as running and analyzing your reports
As you’re getting ready for the summer launch of the Survey, put yourself in the best position to take advantage of the new features by tuning in!
The PAISBOA Office Hours Program takes place on the third Wednesday of every month at 1:00 pm unless otherwise noted. Each program will feature a guest speaker or presentation addressing some of the timely topics that come across your desk. We'll still leave time at the end of each program for our Open Forum, where you're welcome to ask questions or talk about whatever's going on at your school or university.
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