🚫OFAC Sanctions Action and Its Implications for Businesses
Notice of OFAC Sanctions Action
Summary
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing the names of one or more persons that have been placed on OFAC's Specially Designated Nationals and Blocked Persons List (SDN List) based on OFAC's determination that one or more applicable legal criteria were satisfied. All property and interests in property subject to U.S. jurisdiction of these persons are blocked, and U.S. persons are generally prohibited from engaging in transactions with them.
Agencies
- Treasury Department
- Foreign Assets Control Office
Business Impact
$$$ - High
The notice indicates that certain individuals are on the OFAC's SDN list, prohibiting U.S. persons from engaging in transactions with them. This directly affects compliance requirements for businesses, emphasizing the need for due diligence in transactions.