<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/ofac-updates-cuban-assets-control-regulations/"></div>I am currently writing from my hometown of Miami, FL. In the spirit of my trip home for the Labor Day weekend, what better topic to write about than the Cuban Assets Control Regulations? On September 3, 2009, the United States Department of Treasury Office of Foreign Assets Control (“OFAC”) issued an update to the […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on get_the_excerpt --&
Category : Erich Ferrari
<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/more-kingpin-designations-aimed-at-productos-farmaceuticos-collins/"></div>The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has named two Mexico-based entities, as well as six individuals as Specially Designated Narcotics Traffickers (SDNT) for their ties to Productos Farmaceuticos Collins (Collins). Collins is a pharmaceutical company in Jalisco, Mexico which was designated under the Foreign Narcotics Kingpin Designations Act (Kingpin […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on
<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/new-civil-release-penalties/"></div>Well, after a month of heavy settlements the United States Department of Treasury Office of Foreign Assets Control (“OFAC”) issued their monthly civil penalties and to my surprise there was only one settlement. That settlement came against Thermon Manufacturing Company (“Thermon”). Thermon paid $14,613.24 to settle allegations that they violated the Sudanese Sanctions Regulations. According […]<!-- 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/new-ofac-software-available/"></div>Fiserv has announced the availability of their new Signature(TM) v. 9.2 banking platform which includes dynamic risk analysis along with activity profiling and alerts sent based on changes in customer behavior. It also includes automation of OFAC screening of International ACH Transactions and affiliated marketing capabilities to manage marketing campaigns. While I’m sure this software […]<!-- 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-mexico-governor-richardson-goes-to-cuba/"></div>As stated previously on this blog a massive amount of trade has taken place with Cuba under the agricultural exemptions to the Cuban Assets Control Regulations. Another sign of this trade is the visit New Mexico Governor Bill Richardson paid to the island country this week. According to a statement released by Richardson’s office 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/settlements-from-a-land-down-under/"></div>Well I guess the massive fine The United States Department of Treasury Office of Foreign Assets Control (“OFAC”) dished out to DHL earlier this month was not an apparition. Australia and New Zealand Bank Group, Ltd.(“ANZ”), have just settled allegations of violating the Sudanese Sanctions Regulations and Cuban Assets Control Regulations to the tune 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/federal-district-court-says-no-to-ofac/"></div>In a shocker of an opinion, the US District Court for the Northern District of Ohio ruled that OFAC cannot freeze the assets of an organization suspected of terrorism ties without probable cause. In the opinion handed down on Tuesday Judge James Carr ruled that the government must tell the organization the basis for 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/more-kingpin-activity-out-of-ofac/"></div>Not quite sure what happened to my last couple of blogs that I posted but they aren’t showing up. Hopefully this one does. Today the United States Department of Foreign Assets Control (“OFAC”) added, changed, and deleted some entries from its Specially Designated Nationals (“SDN”) list. These designations were made pursuant to the Foreign Narcotics […]<!-- 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/korean-banking-corporation-designated-under-non-proliferation-sanctions/"></div>The United States Department of Treasury Office of Foreign Assets Control (“OFAC”) has placed a Korean banking corporation on the Specially Designated National (“SDN”) list. The company, Korean Kwangson Banking Corp. (“KKBC”) is accused of providing financial support to both Tanchon Commercial Bank (Tanchon) and Korea Hyoksin Trading Corporation (Hyoksin). While being based in North […]<!-- 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/answering-an-ofac-administrative-subpoena/"></div>The United States Department of Treasury Office of Foreign Assets Control (“OFAC”) has just sent you an Administrative Subpoena requesting information pertaining to certain activities they suspect you to have been engaged in. What do you do?????? One of OFAC’s prime intelligence gathering tools is the Administrative Subpoena. Here they ask you to provide a […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on get_