OFAC Licensure for Investigators Act

HR 1450, the OFAC Licensure for Investigators Act, creates a 5-year pilot program allowing private investigation firms to obtain licenses from the Office of Foreign Assets Control (OFAC) for conducting small-scale financial transactions (nominal amounts) as part of their investigations. The program requires OFAC to establish the pilot within one year, coordinate with FinCEN, and mandate participating firms to submit detailed monthly activity reports. OFAC must also report annually to Congress on license requests, approvals, and program utility, plus provide classified briefings to relevant congressional committees on applicants, operations, and recommendations. This bill directly affects private sector investigation firms seeking to legally conduct minimal financial transactions during investigations, while imposing specific reporting and oversight requirements on OFAC.