Erich Ferrari December 27, 2012 Why an OFAC License Is Not the End of OFAC Compliance In my practice I have found that many people believe a license authorization issued by the United States Department of…
Erich Ferrari December 23, 2012 2012: Return of the OFAC Penalties Earlier this year, I wrote that it seemed the days of large penalties and settlements for violations of U.S. economic…
Erich Ferrari December 2, 2012 Facilitation, Foreign Subsidiaries, and OFAC Licensing Maybe it’s because I will be discussing it at this week’s American Conference Institute 2012 OFAC Boot Camp, but the…
Erich Ferrari July 14, 2012 OFAC Designates 20 Iranian Financial Institutions and It Doesn’t Mean Anything at All On Thursday, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) identified a number of Iranian…
Erich Ferrari July 9, 2012 Dubai: The OFAC Practitioner’s Paradise No matter how many times I go to Dubai, I am constantly dazzled by its architecture, its diversity,……and the fact…
Erich Ferrari July 3, 2012 Dealing With Oil Transactions in Southern Sudan: An OFAC Perspective When Sudan was split and Southern Sudan formed, it raised a lot of questions for U.S. entities seeking to engage…
Erich Ferrari June 26, 2012 Are Some Companies Running OFAC Compliance Like AML Compliance? Even in this day and age of $619 million dollar penalties for violations of economic sanctions regulations administered by the…
Erich Ferrari May 30, 2012 OFAC Designates Syria International Islamic Bank The United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) has added Syria International Islamic Bank (SIIB)…
Erich Ferrari May 25, 2012 OFAC SDNT/SDNTK Removals: OFAC Compliance for Foreign Counsel? Yesterday, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) removed a number of individuals and…
Erich Ferrari May 18, 2012 President Issues Sanctions Targeting Certain Persons in Yemen On Wednesday, President Obama imposed sanctions against certain parties contributing to the instability in Yemen. Although, no parties were designated…