wmlro.com: US OFAC report shows dispropotionate cost of financial sanctions compliance
No one knows how much is spent in monitoring for matches with terrorist watch lists nor the tech for looking for suspicious transactions, much less all the time that goes into training, reporting and so on. The USA's OFAC has just produced a report saying how successful we've all been. It shameful - not that we've found so little, but that we are put to such disruption and expense for so little result.
As of the end of 2009 the total blocked assets relating to terrorist and suspected terrorists in the USA amounts to USD19,886, 207. That's USD24 million less than was blocked at the same point a year earlier.
There's more: the USA has blocked funds from those it considers state sponsors of terrorism. It's the usual suspects: Cuba, Iran, Sudan and Syria. Actually, it's not allthe usual suspects because North Korea was removed from the list in 2008. There they have had more success: it's USD280,000,000. A further USD287 million has been identified but not blocked.
So, now you know.
Does it all see worth the cost and trouble?
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