Office of Foreign Assets Control

OFACSpecially Designated NationalsOffice of Foreign Assets Control (OFAC)Specially Designated Nationals List (SDN)Specially Designated Nationals ListSpecially Designated NationaldesignatedForeign Assets ControlOffice of Foreign Asset ControlSpecially Designated Nationals and Blocked Persons List
The Office of Foreign Assets Control (OFAC) is a financial intelligence and enforcement agency of the U.S.wikipedia
274 Related Articles

United States Department of the Treasury

Treasury DepartmentU.S. Treasury DepartmentU.S. Treasury
The Office of Foreign Assets Control (OFAC) is a financial intelligence and enforcement agency of the U.S. Treasury Department. As a component of the U.S. Treasury Department, OFAC operates under the Office of Terrorism and Financial Intelligence and is primarily composed of intelligence targeters and lawyers.

International Emergency Economic Powers Act

IEEPA
Under the International Emergency Economic Powers Act (IEEPA), the U.S. President is empowered during national emergencies to block the removal of foreign assets under the jurisdiction of the United States.
This statutory change gave the Treasury's Office of Foreign Assets Control the power to block assets without the need to provide evidence of the blocking subject's wrongdoing nor to permit the blocking subject a chance to effectively respond to the allegations in court.

Financial intelligence

Financial Intelligence UnitFinancial Information UnitFinancial Intelligence Units
The Office of Foreign Assets Control (OFAC) is a financial intelligence and enforcement agency of the U.S. Treasury Department.

Office of Terrorism and Financial Intelligence

Department of the Treasury
As a component of the U.S. Treasury Department, OFAC operates under the Office of Terrorism and Financial Intelligence and is primarily composed of intelligence targeters and lawyers.
TFI oversees the Office of Terrorist Financing and Financial Crimes, the Office of Intelligence and Analysis, the Office of Foreign Assets Control, the Financial Crime Enforcement Network and the Treasury Executive Office for Asset Forfeiture.

United States embargo against Cuba

embargoCuban embargoembargo against Cuba
Between 1994 and 2003, OFAC collected over $8 million in violations of the Cuban embargo, against just under $10,000 for terrorism financing violations.
The current regulation does not prohibit travel by U.S. citizens to Cuba per se, but it makes it illegal for U.S. citizens to have transactions (spend money or receive gifts) in Cuba under most circumstances without a US government Office of Foreign Assets Control issued license.

Terrorism financing

terrorist financingfinancing of terrorismterror financing
Between 1994 and 2003, OFAC collected over $8 million in violations of the Cuban embargo, against just under $10,000 for terrorism financing violations.
Treasury Department's Office of Foreign Assets Control (OFAC) is able to supply a list of known terrorist organizations.

Iranian American Bar Association

On August 25, 2010, the Iranian American Bar Association announced that it would file an amicus curiae brief with the Court of Appeals for the Second Circuit on United States v. Banki.

Sanctions against Iraq

Iraq sanctionssanctionsUN sanctions against Iraq
As part of its efforts to support the Iraq sanctions, in 2005, OFAC fined Voices in the Wilderness $20,000 for gifting medicine and other humanitarian supplies to Iraqis.
In the United States, legal enforcement was handled by the Office of Foreign Assets Control (OFAC).

United States v. Banki

In the case of United States v. Banki, on June 5, 2010, a U.S. citizen was convicted of violating the Iran Trade Embargo for failing to request Iranian currency transfer licenses in advance from OFAC.
These sanctions are instituted by the Office of Foreign Assets Control (OFAC) under the Department of Treasury of the United States.

United States sanctions against Iran

U.S. sanctions against Iransanctions on Iransanctions against Iran
In the case of United States v. Banki, on June 5, 2010, a U.S. citizen was convicted of violating the Iran Trade Embargo for failing to request Iranian currency transfer licenses in advance from OFAC.
U.S. economic sanctions are administered by the U.S. Office of Foreign Assets Control.

Patriot Act

USA PATRIOT ActUS Patriot ActU.S. Patriot Act
This list differs from the list maintained pursuant to Section 314(a) of the Patriot Act.
Another report was commissioned on the feasibility and desirability of reconfiguring the Foreign Terrorist Asset Tracking Center and the Office of Foreign Assets Control of the Department of the Treasury.

Al-Haramain Foundation

Al-Haramain Islamic Foundational-HarameinAl Haramain
On September 23, 2011, the Ninth Circuit Court of Appeals upheld a lower court's ruling that procedures used by Treasury to shut down the Oregon-based Al Haramain Islamic Foundation in 2004 was unconstitutional.
The Office of Foreign Assets Control of the United States Department of the Treasury had already banned various branches of this organization at various times.

Magnitsky Act

MagnitskyMagnitsky ListMagnitsky bill
On January 9, 2017, under the Magnitsky Act, the United States Treasury's Office of Foreign Assets Control updated its Specially Designated Nationals List and blacklisted Aleksandr I. Bastrykin, Andrei K. Lugovoi, Dmitri V. Kovtun, Stanislav Gordievsky, and Gennady Plaksin, which froze any of their assets held by American financial institutions or transactions with those institutions and banned their travelling to the United States.

Money laundering

money-launderinglaunderinganti-money laundering

National security of the United States

national securityU.S. national securityUnited States national security
It administers and enforces economic and trade sanctions in support of U.S. national security and foreign policy objectives.

Foreign policy of the United States

U.S. foreign policyAmerican foreign policyforeign policy
It administers and enforces economic and trade sanctions in support of U.S. national security and foreign policy objectives.

White House

The White HouseExecutive MansionPresident's House
While many of OFAC's targets are broadly set by the White House, most individual cases are developed as a result of investigations by OFAC's Office of Global Targeting (OGT).

BNP Paribas

Banque Nationale de ParisBanque ParibasBNP
In 2014, OFAC reached a record $963 million settlement with the French bank BNP Paribas, which was a portion of an $8.9 billion penalty imposed in relation to the case as a whole.

War of 1812

The War of 1812American War of 1812war
Involvement of the U.S. Department of the Treasury in economic sanctions against foreign states dates to the War of 1812, when Secretary Albert Gallatin administered sanctions against Great Britain in retaliation for the impressment of American sailors.

Albert Gallatin

GallatinistAbraham Alfonse Albert GallatinGallatin
Involvement of the U.S. Department of the Treasury in economic sanctions against foreign states dates to the War of 1812, when Secretary Albert Gallatin administered sanctions against Great Britain in retaliation for the impressment of American sailors.

Great Britain

BritishBritainGBR
Involvement of the U.S. Department of the Treasury in economic sanctions against foreign states dates to the War of 1812, when Secretary Albert Gallatin administered sanctions against Great Britain in retaliation for the impressment of American sailors.

Impressment

impressedpressedpress gang
Involvement of the U.S. Department of the Treasury in economic sanctions against foreign states dates to the War of 1812, when Secretary Albert Gallatin administered sanctions against Great Britain in retaliation for the impressment of American sailors.