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The Office of Foreign Assets Control (OFAC) is a financial intelligence and enforcement agency of the United States Treasury Department.It administers and enforces economic and trade sanctions in support of U.S. national security and foreign policy objectives. [2]
APC was abolished in 1946 and its functions were transferred to the Office of Alien Property, Department of Justice. It was abolished in 1966 and most of the functions related to foreign assets control were passed to the Office of Foreign Assets Control (OFAC) in the United States Department of the Treasury. [4] [5]
When individuals are added to the list of Specially Designated Nationals (SDN), their U.S. assets are blocked. Moreover, their names are added to automated screening systems used by banks in the United States and many foreign countries, making it difficult for them to open or hold accounts, transfer money, or transact properties internationally ...
Citing unnamed U.S. officials, the Washington Post said hackers compromised the Office of Foreign Assets Control and the Office of Financial Research and also targeted the office of U.S. Treasury ...
The International Emergency Economic Powers Act (IEEPA), Title II of Pub. L. 95–223, 91 Stat. 1626, enacted October 28, 1977, is a United States federal law authorizing the president to regulate international commerce after declaring a national emergency in response to any unusual and extraordinary threat to the United States which has its source in whole or substantial part outside the ...
Foreign Terrorist Organization (FTO) Congressional Research Service; US Department of State's Foreign Terrorist Organizations, released April 8, 2008 Fact Sheet, upon which this article is based, which also contains the legal references. US Department of the Treasury, Office of Foreign Assets Control, 'What you need to know about U.S. Sanctions'
SDGTs are entities and individuals who the Office of Foreign Assets Control (OFAC) finds have committed or pose a significant risk of committing acts of terrorism, or who OFAC finds provide support, services, or assistance to, or otherwise associate with, terrorists and terrorist organizations designated under OFAC Counter Terrorism Sanctions ...
A Specially Designated Terrorist (SDT) is a person who has been designated by the U.S. Secretary of the Treasury to be a specially designated terrorist under notices or regulations issued by the Office of Foreign Assets Control (OFAC), under the U.S. Treasury Department. [1] [2]