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OFAC is headquartered in the Freedman's Bank Building, located across the street from the Treasury Building in Washington, D.C.. In addition to the Trading with the Enemy Act and the various national emergencies currently in effect, OFAC derives its authority from a variety of U.S. federal laws, particularly the International Emergency Economic Powers Act (IEEPA), regarding embargoes and ...
Azza Air Transport, former Cargo airline, in the SDN List. The Specially Designated Nationals and Blocked Persons List, also known as the SDN List, is a United States government sanctions/embargo measure targeting U.S.-designated terrorists, officials and beneficiaries of certain authoritarian regimes, and international criminals (e.g. drug traffickers).
According to OFAC, there are approximately 12,000 names on the Specially Designated Nationals and Blocked Persons List (SDN) list, [14] which is the most restrictive category of targeted U.S. sanctions, targeting U.S.-designated terrorists, officials and beneficiaries of certain authoritarian regimes, and international criminals (e.g. drug ...
FinCEN is the regulatory agency tasked with overseeing the Beneficial Ownership Information Reporting (BOIR) system in the U.S. This responsibility was established under the Corporate Transparency Act (CTA), which mandates that certain business entities must disclose information about their beneficial owners to FinCEN.
In general terms, the Order provides a means by which to disrupt the financial support network for terrorists and terrorist organizations by authorizing the U.S. Department of State, in consultation with the U.S. Departments of the Treasury and Justice, to designate and block the assets of foreign individuals and entities that commit, or pose a significant risk of committing, acts of terrorism.
The order seeks to accomplish this by limiting threats to U.S. national security through the use of economic sanctions via the Specially Designated Nationals and Blocked Persons List (SDN List) as maintained by the Department of the Treasury's Office of Foreign Assets Control.
The United States has imposed economic sanctions on multiple countries, such as France, United Kingdom and Japan since the 1800s. Some of the most famous economic sanctions in the history of the United States of America include the Boston Tea Party against the British Parliament, the Smoot-Hawley Tariff Act against its trading partners and the 2002 steel tariff against China. [1]
The Office of Foreign Assets Control (OFAC) is an agency of the United States Department of the Treasury under the auspices of the Under Secretary of the Treasury for Terrorism and Financial Intelligence. OFAC administers and enforces economic and trade sanctions based on U.S. foreign policy and national security goals against targeted foreign ...