💳Executive Order 14247
Executive Order 14247 aims to modernize the payment processes of the Federal Government by phasing out paper checks and promoting electronic payments. This order outlines the transition to digital payment methods to enhance operational efficiency, reduce costs, and combat fraud, while emphasizing the need for compliance from federal agencies and support for unbanked populations.
Learn More🚫Cuba Restricted List Impacts Financial Transactions for Businesses
The Department of State is publishing a List of Restricted Entities and Subentities Associated With Cuba (Cuba Restricted List) with which direct financial transactions are generally prohibited under the Cuban Assets Control Regulations (CACR). The Department of Commerce's Bureau of Industry and Security (BIS) generally will deny applications to export or reexport items for use by entities or subentities on the Cuba Restricted List.
Learn More🚫OFAC Sanctions Action Notice for January 2025 - Business Impact
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) published the name of one individual that has 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 this individual are blocked, and U.S. persons are generally prohibited from engaging in transactions with this individual.
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