OFAC Compliance and FinCEN’s Guidance
The mission of the Financial Crimes Enforcement Network (FinCEN) is to “safeguard the financial system from illicit use and combat money laundering and promote national security through …
Zhang Lei: A story of synthetic drugs, international drug trafficking, and OFAC SDN designations.
Back on July 29, 2014, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Zhang Lei …
Burma Sanctions: Frequently Asked Questions
The following blog is excerpted from an interview with an OFAC lawyer in which he discusses Burma’s country-based sanctions. What are the country-based sanctions for Burma and are they still in effect? In Burma, most of the country-based sanctions have been removed. There is no longer a broad prohibition on the entire country of Burma […]
Family Remittances: Frequently Asked Questions
The following is an excerpt from a recent interview in which OFAC Sanctions Attorney discusses family remittances and how they relate to the Office of Foreign Assets Control. If you are concerned that sending money to your loved ones could result in sanctions violations, contact an OFAC attorney at our Washington, DC law office to find out […]
OFAC Targets Russian Banks, Defense Technology
On July 29, 2014, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced the imposition of sectoral sanctions against additional
OFAC Sanctions Los Urabeños Leadership
Last week, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced the designation of 17 alleged leaders and associates of Los Urabeños.
BofA to Pay $16.5 Million for OFAC Violations
On July 24, 2014 Bank of America, N.A. entered into a settlement agreement (pdf) with the Office of Foreign Assets Control (OFAC) in which the bank agreed to remit $16,562,700 …
Indictment Alleges Virginia Women Supported Terrorists
On July 23, 2014 federal law enforcement authorities arrested three women on charges that they provided material support to al-Shabaab. Those three women are Muna Osman Jama of Reston, Virginia; Hinda Osman Dhirane of Kent, Washington; and Farhia Hassan of the Netherlands. Two additional women, Fardowsa Jama Mohamed of Kenya and Barira Hassan Abdullah of […]
Backsliding Political Reforms in Burma Will Harm Investors in U.S., Europe, and Asia
In a recent op-ed by Simon Tay and Cheryl Tan that appeared in The Japan Times, the authors suggested …
Extension of Limited Iran Sanctions Relief Includes Civilian Passenger Aircraft Parts
On July 19, 2014 the United States and its partners in the P5+1 and Iran renewed the Joint Plan of Action (JPOA) for four additional months, until November 24, 2014.