An OFAC alert is a notice on a credit report indicating a potential match between a credit applicant’s information and someone on the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) sanctions list. OFAC maintains a list of “Specially Designated Nationals,” which includes individuals such as terrorists, drug traffickers, and other serious criminals who pose a threat to U.S. national security. It is generally unlawful to conduct business with anyone on this list.