<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/ofac-sdn-list-screening-clarifications/"></div>Last week the United States Department of the Treasury Office of Foreign Assets Control (OFAC) provided some guidance on their expectationswhen it comes to the screening of Specially Designated Nationals (SDNs) against the SDN List. Readers of this blog may recall that U.S. persons should screen the names of the parties they engage in transactions […]<!-- 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/sdn-designations-for-irisls-attorneys/"></div>Over the past few months South China Morning Post has been writing extensively on the international efforts to financially isolate the Islamic Republic of Iran Shipping Lines (IRISL) from the international financial system. I have also written a number of times about the United States Department of the Treasury Office of Foreign Assets Control’s (OFAC) […]<!-- 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/ofac-refuses-to-sanction-julian-assange/"></div>Despite calls from some members of Congress to place economic sanctions on Wikileaks founder Julian Assange, the United States Department of the Treasury Office of Foreign Assets Control (OFAC) has refused to do so. Such requests have been coming from House Homeland Security Chairman Pete King. However, OFAC has refused to carry out such requests […]<!-- 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-busy-designating-entities-under-wmd-sanctions/"></div>Today the United States Department of the Treasury Office of Foreign Assets Control (OFAC) designated twenty six (26) entities under the Non-Proliferation of Weapons of Mass Destruction Sanctions Regulations. The latest spree of designations was related to OFAC’s continued efforts to isolate the Islamic Republic of Iran Shipping Lines (IRISL). In addition, two of the […]<!-- 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-kicking-brokers-out-of-the-bahamas-cayman-islands/"></div>According to reports coming out of the Cayman Islands and the Bahamas, some brokers, including TD Ameritrade, are no longer processing transactions with clients in the Cayman Islands and the Bahamas. The reports indicate that clients are being told that it is “to mitigate risk.” Apparently, Cayman Finance, the local industry body, has stated that […]<!-- 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-cote-divoire-sdn-designations/"></div>The United States Department of the Treasury Office of Foreign Assets Control (OFAC) has designated former Côte d’Ivoire (Ivory Coast) President Laurent Gbagbo and his wife, Simone Gbagbo, as Specially Designated Nationals (SDNs) on allegations that their activities threaten the peace and national reconciliation process in Côte d’Ivoire. In addition to Mr. Gbagbo’s designation, three […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below
<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/stuart-levey-takes-to-the-blogosphere-to-defend-ofac/"></div>Last week I wrote about the New York Times article which slammed The United States Department of the Treasury and the Office of Foreign Assets Control for providing licenses under the Trade Sanctions Reform and Export Enhancement Act of 2000 (TSRA) to individuals seeking to trade in agricultural commodities, medicine, and medical devices to Iran. […]<!-- 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/mix-up-shows-imperfection-of-ofacs-sdn-list-products/"></div>Last year a Third Circuit court opinion highlighted the imperfection of OFAC SDN List check programs. In Cortez v. Trans Union, LLC, an innocent consumer was denied purchasing an automobile because her credit report indicated she was on a list of Specially Designated Nationals (SDN) with whom U.S. persons were prohibited from transacting with. The […]<!-- 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/an-ofac-state-of-mind/"></div>While conducting some year end office cleaning, I found a copy of correspondence that took place during the investigation of the implementation of the Foreign Narcotics Kingpin Designation Act (Kingpin Act) by the Judicial Review Commission on Foreign Assets Control. This correspondence was interesting and made me think of my clients who have been designated […]<!-- 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/still-leaning-left-new-york-times-decries-ofacs-licensing-regime/"></div>It’s not often that I feel bad for the United States Department of the Treasury Office of Foreign Assets Control (“OFAC”), however, after getting slammed in a articleby the New York Times last week for licensing various transactions with Iran and other countries that have sanctions programs imposed upon them, I thought someone should come […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on get_