<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/hope-on-the-horizon-more-ofac-sdn-removals/"></div>Yesterday, the United States Department of the Treasury Office of Foreign Assets Control (“OFAC”) released more individuals from its Specially Designated Nationals (“SDN”) list. The individuals released were originally designated for alleged involvement in international narcotics trafficking. Due to either error on OFAC’s part or some change in circumstances, the designation has been revoked and […]<!-- 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/the-rise-of-ofac-compliance-clauses/"></div>“OFAC” clauses are becoming more and more common in today’s trading agreements. These clauses set forth how the agreement will address the impact economic sanctions administered by the United States Department of Treasury Office of Foreign Assets Control (“OFAC”) may have on the agreement. Such clauses may include rights for either party to withhold performance […]<!-- 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-designates-strikes-at-farc-s-48th-front/"></div>Yesterday, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) designated parties they believe to comprise the financial network of the 48th Front, alleged to be part of the Southern bloc of the Fuerzas Armadas Revolucionarias de Colombia (FARC) as Specially Designated Nationals (SDNs). The 48th Front organization is thought to be […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter
<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/there-goes-the-neighborhood-not-really/"></div>Yesterday, the United States Department of the Treasury Office of Foreign Assets Control (“OFAC”) amended the Iranian Transactions Regulations (“ITR”); commonly referred to as the Iran Embargo or Iran Sanctions. The amendment has the effect of expanding Appendix A of 31 C.F.R. Part 560 to include any person determined by OFAC to be the “Government […]<!-- 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-and-doj-a-new-beginning/"></div>The Manhattan U.S. Attorney’s Office is merging two units within their office into one that will prosecute terrorism and international narcotics cases. The proffered reason for this is to increase the focus on extremist Islamic groups who may be turning to the drug trade in order to finance their activities. According to U.S. Attorney Preet […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter
<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/kingpin-list-grows-once-again/"></div>Last week the United States Department of the Treasury Office of Foreign Assets Control (“OFAC”) expanded its Specially Designated Nationals (“SDN”) List once again by adding four persons it has designated as Specially Designated Narcotics Trafficking Kingpins (“SDNTKs”). Of these four, two were individuals and two were entities. The two individuals, Wenceslao Alvarez Alvarez and […]<!-- 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-director-offers-distinctions-if-not-evidence/"></div>I have been asked numerous times over the years how the United States Department of the Treasury Office of Foreign Assets Control (“OFAC”) can designate an individual or entity without showing any evidence of the designated parties’ wrong doing. The reason for this derives from OFAC’s status as an administrative agency. As such their actions […]<!-- 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/sdn-list-in-15-minutes-or-less/"></div>The United States Department of Treasury Office of Foreign Assets Control (“OFAC”) has released its latest civil penalties. Although the penalties were not that eye opening, there was one interesting name on the penalties list. That name was GEICO. The insurance giant paid $11,000 to settle allegations of violations of the Foreign Narcotics Kingpin Designation […]<!-- 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-required-to-procure-warrants-for-blocking-actions-according-to-one-court/"></div>A federal court ruled earlier this month that the U.S. Department of Treasury’s Office of Assets Control’s (“OFAC”) freezing of assets belonging to a charitable institution was unconstitutional and that Congress must fix the law to require that a warrant be garnered before taking such action. Moreover, the court found OFAC’s failure to provide notice […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via
<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/more-sdns-removed/"></div>The United States Department of the Treasury Office of Foreign Assets Control (“OFAC”) has removed a number of individuals from the Specially Designated Nationals (“SDN”) List recently. The individuals who were released from the list were originally designated under either the counter narcotics trafficking sanctions regulations or the Foreign Narcotics Kingpin Desigation Act (“Kingpin Act”). […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on get_the_