As a U.S. company, Visa Inc. and its affiliates must comply with U.S. law, including trade sanctions administered and enforced by the Office of Foreign Assets Control (OFAC). OFAC prohibits or restricts transactions with certain countries, organizations, and individuals. For example, there are countrywide prohibitions for Iran, North Korea, and Syria. More information about OFAC can be found on the U.S. Treasury Department’s website.
In addition, Visa issuers outside of the U.S. may also be required to comply with their country’s designated sanctions list as well.