OFAC Training Presentation12-19-08（纽约银行培训资料）.pptVIP

Office of Foreign Assets Control – OFAC Overview Trade Operations Office of Foreign Assets Control What is OFAC? Part of the U.S. Treasury responsible for administering and enforcing economic and trade sanctions against targeted foreign countries, terrorism and narcotics traffickers based on U.S. policy and national security objectives. Office of Foreign Assets Control How long has OFAC regulation been in existence? “For about 200 years…. It’s been known as doing business with the enemy.” The US Treasury requires banks to monitor, block, and report attempts to do business with sanctioned entities/individuals countries. Office of Foreign Assets Control What transactions are reviewed?  Deposits/withdrawals of currency, letters of credit, check processing, cashier’s checks, money orders, ACH transactions, and wire transfers. Office of Foreign Assets Control Foreign Threat Entities – Cuba Cuba is the focus of a full-fledged trade embargo, including the blocking of assets in U.S. jurisdiction. OFAC Sanctions Programs OFAC Country Sanctions Programs Balkans Belarus Burma Cote d’Ivoire (Ivory Coast) Cuba Democratic Republic of The Congo Iran Liberia North Korea Sudan Syria Zimbabwe OFAC List Based Sanctions Programs Anti-Terrorism Counter Narcotics Trafficking Non-proliferation Diamond Trading Office of Foreign Assets Control During 2004, the President issued executive orders effectively lifting previously existing sanctions against Iraq and Libya. Limited sanctions which had existed against Angola also have been lifted. Office of Foreign Assets Control Other Sanctioned Entities Narcotics - Drug Traffickers Terrorists - International Terrorist Activities Nonproliferation - Sale of weapons of mass destruction Blocked Vessels - Ships sailing under blocked country jurisdiction Office of Foreign Assets Control OFAC Sanctioned Individuals Named foreign agents and front organizations in a list of “Specially Designated Nationals (SDNs) and Blocked Persons.” Ter