Sanctions

Almost a dozen Iran-connected entities were added to the OFAC SDN list on 3 March 2009

The UK Treasury, acting in accordance with UN sanctions Committee 1390 (2002) has issued amendments to that list. The list is the Al Qaeda / Taleban list. However, several of those named are supporters of other groups.

26 February 2009 - OFAC has removed an individual from the SDN list.

Questions about Specially Designated Nationals (SDNs)
What is an SDN?

How do I get a copy of this list?

How often is the SDN list updated?

How do I know what specific changes have been made to OFAC's SDN list?

Does OFAC maintain or can it create a country-by-country list of SDNs?

Who must comply with OFAC regulations?

How much are the fines for violating these regulations?

Is there a mechanism for a company to report its past undetected violations of OFAC regulations for completed transactions? Is any type of "amnesty" available for inadvertent failure to comply prior to the company becoming aware of the OFAC regulations?

Can I regard previously issued and published opinion letters, regulatory interpretations, or other statements as guidance for my transactions?

Can OFAC change its previously stated, non-published interpretation or opinion without first giving public notice?

Why are there two separate subscription services on OFAC's website, one called a "Financial Operations Bulletin" and the other a "What's New" notice?

Where can I find the specific details about the embargoes?

Can I get permission from OFAC to transact or trade with an embargoed country?

What must I do to get permission to trade with an embargoed country?

What do you mean by "blocking?"

What countries do I need to worry about in terms of U.S. sanctions?

What does one mean by the term "prohibited transactions" ?

Are there exceptions to the prohibitions?

OFAC has issued ( an extensive Frequently Asked Questions document to aid with compliance and risk management. It is a long document. Therefore we have broken it down into manageable chunks.

What is OFAC and what does it do?

How long has OFAC been around?

The US Treasury has named a number of individuals and entities in connection with Peru drugs trafficking.

The UK Treasury has issued a general licences to UK financial institutions that permits the release of custodianship funds to verified third party beneficial owners.