OFAC Updates Week 1/3/22
January 3, 2021
The Office of Foreign Assets Control (OFAC) has reached a settlement agreement of $91,172.29 with Airbnb Payments, inc. for potential civil liability for apparent violations of sanctions against Cuba. Airbnb processed payments related to individuals traveling to Cuba for reasons that were not authorized by OFAC and furthermore failed to keep required records associated with the Cuba-relate transactions.
January 5, 2021
OFAC has updated their Specially Designated Nationals and Blocked Persons (SDN) List with Balkans-related designation updates. A single new entity was added to the list and a designation for a single indivudal was updated.
January 7, 2021
OFAC has issued a new frequently asked question(FAQ) regarding the Belarus, Ukraine-/Russia-related and Venezuela-related sanctions programs. The FAQ specifically addressed modifying pre-existing loans, contract and other agreements to replace the London Interbank Offered Rate (LIBOR).
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