How does the Treasury Department determine whether a transaction or financial service is “significant” for purposes of the Iranian Financial Sanctions Regulations (IFSR)?
OFAC's answer
As set out in the [IFSR](https://www.ecfr.gov/cgi-bin/text-idx?SID=9874a1de71122f946a56d27417c6c372&tpl=/ecfrbrowse/Title31/31cfr561_main_02.tpl), in determining whether a transaction or financial service is “[significant](https://www.ecfr.gov/cgi-bin/text-idx?SID=f001609e54e2c4adcbab5dafe63ba4a7&mc=true&node=se31.3.561_1404&rgn=div8),” the Treasury Department may consider: (1) the size, number, frequency, and nature of the transaction(s); (2) the level of awareness of management of the transaction(s) and whether or not the transaction(s) are a part of a pattern of conduct; (3) the nexus between the foreign financial institution involved in the transaction(s) and a blocked Islamic Revolutionary Guard Corps individual or entity or blocked Iran-linked financial institution; (4) the impact of the transaction(s) on the goals of the Comprehensive Iran Sanctions, Accountability, and Divestment Act [(CISADA)](https://ofac.treasury.gov/media/5691/download?inline); (5) whether the transaction(s) involved any deceptive practices; and (6) other factors the Treasury Department deems relevant on a case-by-case basis.