OFFICE OF FOREIGN ASSETS CONTROL
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The 'United States Department of the Treasury Office of Foreign Assets Control' (or 'OFAC') administers and enforces economic and trade sanctions based on U.S. foreign policy and national security goals against targeted foreign countries, terrorists, international narcotics traffickers, and those engaged in activities related to the unapproved proliferation of weapons of mass destruction.
The Office of Foreign Assets Control acts under presidential wartime and national emergency powers, as well as authority granted by specific legislation, to impose controls on transactions and freeze foreign assets under the jurisdiction of the United States. Many of the sanctions are based on United Nations and other international mandates which are multilateral in scope, and involve close cooperation with allied governments. Other acts –- such as the Helms-Burton Act, which passed in 1996 and strengthens and continues the United States embargo against Cuba –- have been condemned by the European Union and other entities.
The Specially Designated Nationals list is a publication of the OFAC, which lists individuals and organizations whose properties are blocked by the Office's various sanctions programs which it administers.[1][2][3] Notable blocked organizations on this list include '17 November', Real IRA, Al Qaeda, the Communist Party of Nepal (Maoist), the Communist Party of the Philippines, the Communist Party of Peru, and the Central Bank of Iran. The SDN list is part of the U.S. Federal Excluded Parties List System[4], which also includes the U.S. Department of Commerce's Bureau of Industry and Security (BIS) list.
Many individual suspects of terrorism and trading in illicit drugs are also included in the list. Similarity between names has resulted in several false positives, and, when individual businesses poorly implement their check of the list, a chilling effect on commerce with people of Middle Eastern descent. [5] This has caused some innocent individuals to be unable to perform transactions such as wiring money to relatives or opening bank accounts.[6] However, the OFAC has a verification hotline[7] to verify that a blocked individual is, in fact, a positive match to the list or not.
1. The Specially Designated Nationals list (plaintext)
2. U.S. Treasury SDN list page
3. Search Interface for the OFAC SDN list
4. http://www.epls.gov
5. http://www.washingtonpost.com/wp-dyn/content/article/2007/03/26/AR2007032602088_pf.html Washington Post on the Specially Designated Nationals list. Ellen Nakashima
Washington Post Staff Writer - Tuesday, March 27, 2007; D01
6. http://news.yahoo.com/s/ap/20060706/ap_on_bi_ge/emirates_muslim_money
7. OFAC verification hotline notice
★ Official web page
★ Searchable OFAC SDN list
★ List of sanctions programs including nations
The Office of Foreign Assets Control acts under presidential wartime and national emergency powers, as well as authority granted by specific legislation, to impose controls on transactions and freeze foreign assets under the jurisdiction of the United States. Many of the sanctions are based on United Nations and other international mandates which are multilateral in scope, and involve close cooperation with allied governments. Other acts –- such as the Helms-Burton Act, which passed in 1996 and strengthens and continues the United States embargo against Cuba –- have been condemned by the European Union and other entities.
| Contents |
| Specially Designated Nationals |
| References |
| External links |
Specially Designated Nationals
The Specially Designated Nationals list is a publication of the OFAC, which lists individuals and organizations whose properties are blocked by the Office's various sanctions programs which it administers.[1][2][3] Notable blocked organizations on this list include '17 November', Real IRA, Al Qaeda, the Communist Party of Nepal (Maoist), the Communist Party of the Philippines, the Communist Party of Peru, and the Central Bank of Iran. The SDN list is part of the U.S. Federal Excluded Parties List System[4], which also includes the U.S. Department of Commerce's Bureau of Industry and Security (BIS) list.
Many individual suspects of terrorism and trading in illicit drugs are also included in the list. Similarity between names has resulted in several false positives, and, when individual businesses poorly implement their check of the list, a chilling effect on commerce with people of Middle Eastern descent. [5] This has caused some innocent individuals to be unable to perform transactions such as wiring money to relatives or opening bank accounts.[6] However, the OFAC has a verification hotline[7] to verify that a blocked individual is, in fact, a positive match to the list or not.
References
1. The Specially Designated Nationals list (plaintext)
2. U.S. Treasury SDN list page
3. Search Interface for the OFAC SDN list
4. http://www.epls.gov
5. http://www.washingtonpost.com/wp-dyn/content/article/2007/03/26/AR2007032602088_pf.html Washington Post on the Specially Designated Nationals list. Ellen Nakashima
Washington Post Staff Writer - Tuesday, March 27, 2007; D01
6. http://news.yahoo.com/s/ap/20060706/ap_on_bi_ge/emirates_muslim_money
7. OFAC verification hotline notice
External links
★ Official web page
★ Searchable OFAC SDN list
★ List of sanctions programs including nations
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