Sanctions Enforcement and Financial Institutions Transparency Act or the SEFIT Act This bill requires the Department of the Treasury to notify Congress as to whether certain foreign financial institutions have engaged in sanctionable conduct. The foreign financial institutions targeted by this bill are those that have a capitalization of over $10 million and are (1) organized under the laws of a state sponsor of terrorism, (2) owned or controlled by the government of a state sponsor of terrorism, (3) located in the territory of a state sponsor of terrorism, or (4) owned or controlled by a foreign financial institution that falls into one of the preceding categories. Treasury must submit a determination to Congress as to whether any such foreign financial institution has engaged in, or attempted to engage in, conduct that would be sanctionable under certain laws, executive orders, or directives.