Search for: "OFFICE OF FOREIGN ASSETS CONTROL"
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28 May 2024, 9:33 am
The Office of Foreign Assets Control (OFAC), a division of the U.S. [read post]
23 May 2024, 12:07 pm
Department of the Treasury’s Office of Foreign Assets Control (OFAC) oversees these incidents, and the International Emergency Economic Powers Act and the Trading with the Enemy Act have strict rules against foreign financial engagement, and it is illegal to conduct a transaction with any person on the OFAC’s Specially Designated Nationals and Blocked Persons List. [read post]
17 May 2024, 6:39 pm
This means that these assets are effectively frozen, and any transaction that could involve them is prohibited without acquiring an authorization from the Office of Foreign Assets Control (OFAC). [read post]
15 May 2024, 9:05 pm
Derivatives are financial instruments used to shift risks, such as fluctuations in interest rates or foreign exchange rates or changes in the value of assets such as stocks, bonds, metals, or agricultural or energy products. [read post]
13 May 2024, 5:10 am
Some of the red flags include transactions with entities or individuals flagged by the Office of Foreign Assets Control (OFAC), involving identifiers like email, physical addresses, or passport numbers. [read post]
10 May 2024, 12:30 pm
The Office of Foreign Asset Control (OFAC) is a branch of the U.S. [read post]
10 May 2024, 6:45 am
Holder1 to hold that Fifteenth Amendment legislation that disparately impacts states’ control over voting procedures must be “sufficiently related to the problem it targets. [read post]
9 May 2024, 2:00 pm
One targeted attorney received an email that states,”Hi, I work with MCJ ASSETS, LLC. [read post]
8 May 2024, 9:01 pm
As we have noted in prior client updates, the Office of Foreign Assets Control (OFAC) and the Department of Justice (DOJ) have increasingly adopted an aggressive enforcement posture for sanctions violations. [read post]
23 Apr 2024, 9:24 am
Last Friday (April 19), the Department of Treasury’s Office of Foreign Assets Control (OFAC) announced that SCG Plastics Co., part of a Bangkok-based multinational enterprise, agreed to pay $20 million to settle charges it violated OFAC sanctions on Iran. [read post]
23 Apr 2024, 5:57 am
Russia’s Access to Foreign Military Components: Improving Export Controls In a January 2024 joint study, “Challenges of Export Controls Enforcement: How Russia Continues to Import Components for its Military Production,” the Yermak-McFaul International Working Group on Russian Sanctions (“Working Group”) together with the KSE Institute at the Kyiv School of Economics analyzed Russia’s access to components for military production as… [read post]
22 Apr 2024, 8:07 am
Since 2009, SCG Plastics allegedly purchased, marketed and resold plastic resin products made by an Iranian joint venture, owned in part by its parent company and the National Petrochemical Company of Iran, which is part of the government, to its customers in East Asia, according to Treasury’s Office of Foreign Assets Control, which implements and enforces U.S. economic sanctions. [read post]
22 Apr 2024, 7:00 am
Eligibility Criteria: Ability to Pay: Evaluation of income, expenses, asset equity, and future earning potential. [read post]
19 Apr 2024, 4:36 pm
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed new sanctions Friday on multiple entities that back extremist settlers in the West Bank, including the Mount Hebron Fund and Shlom Asiraich. [read post]
19 Apr 2024, 9:27 am
The new rules provide certain exceptions to the above, including one for persons having or controlling total assets of less than $50 million. [read post]
16 Apr 2024, 1:47 pm
Management and Control: Aligning management styles and agreeing on control mechanisms can be challenging. [read post]
16 Apr 2024, 1:04 pm
Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Black Shield, also known as Black Shield for Trading LLC, Deiry, and Rayya, as well as other individuals and entities involved in the procurement network used by Deiry and Rayya in support of Black Shield’s illegal supply of munitions used in conflicts around the world. [read post]
16 Apr 2024, 12:26 pm
To qualify as a “beneficial owner” one must either:Exercise substantial control over the reporting company. [read post]
15 Apr 2024, 10:00 pm
Bank Reporting Requirements under the Bank Secrecy Act and OFAC Sanctions Laws Review the various statutory and regulatory reporting obligations for banks under the Bank Secrecy Act and the reporting and filing requirements mandated by the Office of Foreign Assets Control of the Treasury Department. [read post]
11 Apr 2024, 4:57 am
The Staff noted the 133 officer and director bars in 2023 was the highest number in a decade. [read post]
