• Deanna Clark-Esposito

OFAC Updates Week 5/4/20


May 6, 2020

BIOMIN America, Inc., an animal nutrition company based in Kansas has paid to settle their violations of the Cuban Assets Control Regulations (CACR), 31 C.F.R. part 515. BIOMIN's violations consisted of thirty transactions with a Cuban business without direct authorization from OFAC. BIOMIN mistakenly assumed that their transactional structure was consistent with OFAC's guidelines but upon discovery of the violation they voluntarily disclosed the information to OFAC.


See Below:

https://bit.ly/BIOMIN-OFAC-Settlement-5-2020


May 7, 2020

The Specially Designated Nationals (SDN) list has been updated with Slovakia and North Korea related designations. A list of information for all blocked person is available in a memo that is amended weekly.


See Below:

https://bit.ly/TreasurySDNList


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