• Deanna Clark-Esposito

OFAC Updates Week 9/28/20


September 30, 2020

The Office of Foreign Assets Control (OFAC) has Issued Syria General License 20, "Authorizing Transactions and Activities Necessary for Wind down of Transactions with Emma Tel LLC." Coupled with this license OFAC has updated their Frequently Asked Questions (FAQs) with a question regarding the new license. OFAC has updated their Specially Designated Nationals and Blocked Persons (SDN) List in response to this new general license as well. The Syria-related and Cuba designations can be found on the most recent SDN list.


See the License Below:

http://bit.ly/SyriaGenLicNO20


See the FAQ Below:

http://bit.ly/SyriaGenLicNO20FAQ


OFAC is introducing new regulations to implement Executive Order 13928, "Blocking Property of Certain Persons Associated with the International Criminal Court." Alongside these new regulations OFAC has amended the "Weapons of Mass Destruction Proliferators Sanctions Regulations" and "Iranian Transactions and Sanctions regulations."


See the New Regulations Below:

http://bit.ly/ICCSanctionsAmendProlifSanctions


October 1, 2020

OFAC has issued an advisory alerting companies of potential sanctions risks for facilitating ransomeware payments. The advisory focuses on designations of malicious cyber actors and identifies resources for reporting ransomeware activity, specifically how they should be integrated into the company's compliance program.


See the Advisory Below:

http://bit.ly/RansomewareAdvisoryOct20


OFAC has reached a settlement agreement with Generali Global Assistance, Inc. (GGA) to remit $5,864,860 to settle its potential civil liability for 2,593 apparent violations of the Cuban Assets Control Regulations. GGA, a New York- incorporated travel assistance services company, processed reimbursement payments that should have gone to Cuban nationals and travelers in Cuba through their Canadian affiliate therefore giving the payments to their affiliate. GGA voluntarily disclosed the violation but OFAC still determined this to be an egregious case.


See the Web Notice Below:

http://bit.ly/GeneraliWebNotice


See the Settlement Agreement Below:

http://bit.ly/GeneraliSettlementAgreement


October 2, 2020

OFAC has updated their SDN list with Belarus Designations.


See the SDN List Below:

http://bit.ly/SDNUpdates1022020


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