<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/to-reject-or-to-block-that-is-the-ofac-question/"></div>A number of people have come to us recently inquiring into whether or not a funds transfer will be blocked by a U.S. bank because it may be related to a transaction that was prohibited under a sanctions program administered by the United States Department of the Treasury Office of Foreign Assets Control (OFAC). Sometimes […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on get_
Category : Erich Ferrari
<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/bin-ladens-death-may-mark-a-need-for-increased-bank-vigilance/"></div>Due to the death of Osama Bin Laden, a number of experts in the anti-money laundering field are predicting heightened transfers of money and assets among al-Qaeda operatives and/or leadership. Such movement could leave banks susceptible to OFAC, money laundering, and Bank Secrecy Act violations. This is particularly true in Africa, where it is believed […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on get_
<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/syrian-sanctions-issued-during-obamas-big-weekend/"></div>Lost in the news coverage of the release of President Obama’s long form birth certificate, the Royal Wedding, and the assassination of Osama Bin Laden, was the issuance of a new round of sanctions against Syria. On Friday, April 29, 2011, President Obama signed into effect an executive order which has blocked certain individuals and […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on get_the_excerpt
<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/ofac-sdn-removals-and-designations/"></div>The United States Department of the Treasury Office of Foreign Assets Control (OFAC) has designated a number of individuals and entities as Specially Designated Nationals (SDNs) and placed them on a blacklist which freezes their assets and prohibits U.S. persons from engaging in transactions with them. Of the parties designated, one was Jorge Luis Llanos […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on get_
<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/new-ofac-general-license-already-being-used/"></div>It looks like the general license issued in regards to the Transitional National Council of Libya (TNC) by the United States Department of the Treasury Office of Foreign Assets Control (OFAC) is already being put into use. The MT Equator tanker, which is currently carrying up to 550,000 bbl of Libyan crude, will be arriving […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on get_the_excerpt
<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/ofac-releases-april-penalties-information/"></div>The United States Department of the Treasury Office of Foreign Assets Control (OFAC) has released a new announcement describing recent penalties imposed for violations of OFAC administered sanctions regulations. In this announcement two companies were penalized for violations of the Iranian Transactions Regulations (ITR) and one individual was penalized for a violation of the Sudanese […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on get_the_
<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/ofac-issues-new-libya-general-license-for-certain-parties/"></div>The United States Department of the Treasury Office of Foreign Assets Control (OFAC) has promulgated a new general license for U.S. persons to engage in transactions with or involving Qatar Petroleum or the Vitol Group of companies, if those transactions are related to oil, gas, or petroleum products exported from Libya under the auspices of […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on get_
<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/new-ofac-cuba-guidelines-encourage-private-business/"></div>As I wrote last week, The United States Department of the Treasury Office of Foreign Assets Control (OFAC) has been providing new rules and guidance relating to the Cuban Assets Control Regulations. As part of these changes there has been some changes issued which allow for investment by U.S. persons in private business in Cuba. […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on get_
<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/two-charged-with-federal-criminal-offenses-for-violating-the-iranian-transactions-regulations/"></div>Two exporters from California have been charged with violating the Iranian Transactions Regulations for the export of laptop computers to Iran via Dubai, UAE. It is alleged that these exported laptops were exported to Iran without a license from the United States Department of the Treasury Office of Foreign Assets Control (OFAC). Amongst the offenses […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on get_the_
<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/ofac-issues-updated-guidance-on-cuba-travel-requirements/"></div>Although on the website of the United States Department of the Treasury Office of Foreign Assets Control (OFAC) for sometime, the Comprehensive Guidelines for License Applications to Engage in Travel Related Transactions Involving Cuba has been outdated for quite a while. Today, OFAC finally was able to update those guidelines. The update provided some much […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on get_the_