Just in time for Christmas the U.S. Department of the Treasury Office of Foreign Assets Control (“OFAC”) has provided new insight into the definition of “financial, material, or technological support” as that term is used in the Global Terrorism Sanctions Regulations (“GTSR”). This new definition can now be found at 31 C.F.R. 594.317.

Under this new section, The term financial, material, or technological support, as used in § 594.201(a)(4)(i) of this part, means any property, tangible or intangible, including but not limited to currency, financial instruments, securities, or any other transmission of value; weapons or related materiel; chemical or biological agents; explosives; false documentation or identification; communications equipment; computers; electronic or other devices or equipment; technologies; lodging; safe houses; facilities; vehicles or other means of transportation; or goods. ‘‘Technologies’’ as used in this definition means specific information necessary for the development, production, or use of a product, including related technical data such as blueprints, plans, diagrams, models, formulae, tables, engineering designs and specifications, manuals, or other recorded instructions.

As usual we are offered a rather lengthy and confusing definition, but some insight into what OFAC means is better than no insight. This definition exemplifies a recent trend in OFAC’s actions. While the regulations are still very complex, the meaning of some of the key terms used in those regulations have been made less opaque. Effectively, OFAC seems to be awakening to the realization that more clarity in their actions and in the sanctions regulations will lead to greater compliance. With a mission as big and as important as that with which OFAC is charged, they certainly need all the help they can get. This means that they need to leverage the private sector to help enforcement of these sanctions programs through compliance.

Now this isn’t to say that OFAC is all of a sudden the nice guy subagency of the federal government. Their actions over the past year demonstrate that they are still very serious about their mission and very aggressive about carrying it out. However, it does seem to suggest that some of their recent actions are designed to make OFAC work in a more efficient and smarter way.

The author of this blog is Erich Ferrari, an attorney specializing in OFAC litigation. If you have any questions please contact him at 202-280-6370 at 202-351-6161 or ferrari@ferrari-legal.com.