OFAC Updates Week of 4/26/21
April 26, 2021
The Office of Foreign Assets Control has updated their Specially Designated and Blocked Persons (SDN) List with Global Magnitsky [GLOMAG] designations. The designations were place upon two Guatemalan individuals.
April 27, 2021
OFAC has amended the Somalia Sanctions Regulations, 31 C.F.R. part 551. This amendment includes additional interpretive and definitional guidance with new general license and other regulatory provisions.
April 29, 2021
OFAC has announced a settlement with MoneyGram Payment Systems, Inc. of $34,328.78 for its potential civil liability for 359 apparent violations of sanctions programs. MoneyGram permitted transactions from blocked persons and processed transactions involving Syria.
OFAC has also announced a separate settlement of $2,132,174 with SAP SE. SAP is a software company based in Walldorf, Germany that has settled with OFAC for its potential civil liability in 190 apparent violations. Between 2013 and 2018 SAP engaged in transactions between the U.S. and companies in third countries that had end users in Iran. OFAC claims that SAP was fully aware of the end-users through their cloud business system. SAP voluntarily disclosed and OFAC determined that this was a non-egregious case.
April 30, 2021
OFAC has removed five Iraqi designations from their SDN List. Additionally OFAC has converted the Non-SDN Communist Chinese Military Companies (NS-CCMC) List from temporary format to standard list format.
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