• Deanna Clark-Esposito

OFAC Updates Week 8/10/20

Updated: Sep 5


August 10, 2020

The Office of Foreign Assets Control (OFAC) amended their definition of "Applicable Schedule Amount" within the Economic Sanctions Enforcement Guidelines. This definition is currently found in appendix A to 31 CFR Part 501.


See the Memo Below:

https://bit.ly/OFACApplicableScheduleAmountDefinition


August 11, 2020

OFAC has initiated a new Sudan Program while outlining Darfur sanctions guidance. 31 CFR Part 538, Sudanese Sanctions Regulations, has been removed which effectively allows U.S. individuals to engage in transactions with Sudan but Sudan will continue to be on the State Sponsors of Terrorism List (SSLT List) which in itself imposes strict prohibitions. Due to the violence in Sudan's Darfur region, OFAC has imposed separate sanctions on this particular region. OFAC has also updated their FAQs regarding the Sudan Program.


See the Guidance Below:

https://bit.ly/SudanSanctionsGuidanceAugust2020


OFAC has agreed to a settlement of $5,000 with an individual who had perpetrated 24 apparent violations of the Foreign Narcotics Kingpin Sanctions Regulations (FNKSR) while stated at the U.S. embassy in Bogota, Colombia.The violations occurred between October 2015 and August 2016 when the individual in question conducted transactions with blocked property tied to a specially designated narcotics trafficker.


See the Full Notice of Violation Below:

https://bit.ly/BogotaFNKSRViolation


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