FATF

OFAC has updated its SDN List. Please visit the URL below to view this action

OFAC has updated its SDN List. Please visit the URL below to view this action

OFAC has updated its SDN List. Please visit the URL below to view this action

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a settlement with Uphold HQ Inc. (“Uphold”). Uphold agreed to remit $72,230.32 to settle its potential civil liability for apparent violations of sanctions against Iran, Cuba, and Venezuela. Between March 2017 and May 2022, Uphold or its affiliates processed 152 transactions totaling $180,575.80 in apparent violation of OFAC’s sanctions against Iran, Cuba, and Venezuela. These apparent violations included processing transactions for customers who self-identified as being located in Iran or Cuba and for employees of the Government of Venezuela. The settlement amount reflects OFAC’s determination that Uphold’s apparent violations were non-egregious and voluntarily self-disclosed. For more information, please visit the following web notice.

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today announced a settlement with Wells Fargo Bank, N.A. ("Wells Fargo"). Wells Fargo agreed to remit $30,000,000 to settle its potential civil liability for apparent violations of sanctions against Iran, Syria, and Sudan. For about seven years beginning in 2008 and ending in 2015, Wells Fargo and its predecessor, Wachovia Bank ("Wachovia"), provided a foreign bank located in Europe with software that the foreign bank then used to process trade finance transactions with U.S.-sanctioned jurisdictions and persons. Wachovia, at the direction of a mid-level manager, customized a trade insourcing software platform for general use by the European bank that Wachovia knew or should have known would involve engaging in trade-finance transactions with sanctioned jurisdictions and persons. For more information, please visit the following web notice.

In addition, OFAC is also amending a Russia-related Frequently Asked Question (1118).

OFAC has updated its SDN List. Please visit the URL below to view this action

OFAC has updated its SDN List. Please visit the URL below to view this action

OFAC has updated its SDN List. Please visit the URL below to view this action

OFAC has updated its SDN List. Please visit the URL below to view this action

The Department of the Treasury's Office of Foreign Assets Control (OFAC) has published an Alert "Notice of Fraudulent Communications Requesting Payments involving OFAC" to make the public aware of telephone, email, and letter scams involving individuals falsely claiming to represent OFAC and requesting payments. One example involves timeshare fraud schemes, where scammers have falsely claimed that OFAC has “blocked” payments of taxes made by the timeshare owner. OFAC is also issuing Iran General License O "Authorizing Wind-Down and Limited Safety and Environmental Transactions Involving Certain Vessels" and two related Frequently Asked Questions (1119 and 1120). In addition, the following updates have been made to OFAC's list of Specially Designated Nationals:

OFAC has updated its SDN List. Please visit the URL below to view this action

The Department of the Treasury's Office of Foreign Assets Control (OFAC) has issued a humanitarian assistance fact sheet, Supplemental Guidance for the Provision of Humanitarian Assistance. This 2023 fact sheet supplements OFAC’s 2014 Guidance Related to the Provision of Humanitarian Assistance by Not-for-Profit Non-Governmental Organizations.

OFAC has updated its SDN List. Please visit the URL below to view this action

The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Russia-related General License 62, "Authorizing the Wind Down of Transactions Involving Holdingovaya Kompaniya Metalloinvest AO, MegaFon PAO, Limited Liability Company USM Telecom, or Akkermann Cement Ca Limited Liability Company", General License 63, "Authorizing Transactions Related to Debt or Equity of, or Derivative Contracts Involving, Holdingovaya Kompaniya Metalloinvest AO," General License 64, "Authorizing Certain Transactions Involving Kommersant", and General License 65, "Authorizing Transactions Related to Telecommunications and Certain Internet-based Communications Involving MegaFon PAO or Digital Invest Limited Liability Company." OFAC is revoking Russia-related Russia-related General License 15, "Authorizing Transactions Involving Certain Blocked Entities Owned by Alisher Burhanovich Usmanov."

OFAC is also issuing one Frequently Asked Questions (1122).

Additionally, the following names have been added to OFAC's list of Specially Designated Nationals:

The U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC") today announced a settlement with Microsoft Corporation ("Microsoft"), a multinational technology company headquartered in Redmond, Washington. Microsoft has agreed to remit $2,980,265.86 to settle its potential civil liability for 1,339 apparent violations of the Cuban Assets Control Regulations, the Iranian Transactions and Sanctions Regulations, the Syrian Sanctions Regulations, and the Ukraine-/Russia-Related Sanctions Regulations involving the exportation of services or software from the United States to comprehensively sanctioned jurisdictions and to Specially Designated Nationals or blocked persons. The settlement amount reflects OFAC's determination that Microsoft's conduct was non-egregious and voluntarily self-disclosed. For more information, please visit the following web notice.

OFAC has updated its SDN List. Please visit the URL below to view this action

The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Global Magnitsky General License 7, "Authorizing Certain Transactions Involving Tabacalera del Este S.A. or Tabacos USA Inc. Pursuant to the Tobacco Master Settlement Agreement." OFAC is also issuing one Global Magnitsky-related Frequently Asked Question (1121).

Additionally, the following name has been added to OFAC's list of Specially Designated Nationals:

OFAC has updated its SDN List. Please visit the URL below to view this action

The Department of the Treasury's Office of Foreign Assets Control (OFAC) is amending the Belarus Sanctions Regulations and reissuing them in their entirety. This regulatory amendment is currently available for public inspection with the Federal Register and will take effect upon publication in the Federal Register on March 27, 2023.

OFAC is also publishing an alert, "Sanctions Risks Associated with Provision of Jet Fuel to the Burmese Military."

The following updates have been made to OFAC's list of Specially Designated Nationals:

OFAC has updated its SDN List. Please visit the URL below to view this action

OFAC has updated its SDN and SSI Lists. Please visit the URL below to view this action

Today, the U.S. Department of Commerce’s Bureau of Industry and Security (BIS), the U.S. Department of Justice (DOJ), and the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), issued a Tri-Seal Compliance Note: Cracking Down on Third-Party Intermediaries Used to Evade Russia-Related Sanctions and Export Controls to alert the international community, the private sector, and the public to attempts by malign actors to continue to try to evade sanctions and export controls to support Russia’s military-industrial complex in support of Russia’s illegal and unprovoked war against Ukraine. The Compliance Note details how Russia uses third-party intermediaries and transshipment points to circumvent restrictions and obscure the true identities of Russian end users. The Compliance Note provides common red flags that can indicate a third-party intermediary may be engaged in efforts to evade sanctions or export controls.

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a $332,500 settlement with Godfrey Phillips India Limited ("GPI"). GPI, a Mumbai, India-registered tobacco company, has agreed to settle its potential civil liability for five apparent violations of the North Korea Sanctions Regulations, 31 C.F.R. part 510. Specifically, between July and August 2017, GPI requested payment in U.S. dollars for its indirect exportation of tobacco to the Democratic People’s Republic of Korea. One of these five payments was directed to the foreign branch of a U.S. financial institution. OFAC determined that GPI did not voluntarily self-disclose the apparent violations, and that the apparent violations constitute a non-egregious case.

For more information, please visit the following web notice.

OFAC has updated its SDN List. Please visit the URL below to view this action

The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Russia-related General License 8F, "Authorizing Transactions Related to Energy," General License 13D, "Authorizing Certain Administrative Transactions Prohibited by Directive 4 under Executive Order 14024," General License 60, "Authorizing the Wind Down and Rejection of Transactions Involving Certain Entities Blocked on February 24, 2023,", and General License 61, "Authorizing Transactions Related to Debt or Equity of, or Derivative Contracts Involving, Certain Entities Blocked on February 24, 2023." Additionally, OFAC is issuing five associated Frequently Asked Questions (1114-1118).

OFAC is also publishing a Determination Pursuant to Section 1(a)(i) of Executive Order 14024.

In addition, OFAC has updated the following lists: