🚫OFAC Sanctions Actions and Business Compliance Implications
Notice of OFAC Sanctions Actions
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 text discusses sanctions imposed by OFAC on specific individuals involved in illicit activities, affecting U.S. businesses' compliance and transaction capabilities. U.S. persons are prohibited from engaging with sanctioned individuals, thereby impacting business operations and financial transactions.