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Frequently Asked Questions

Featured FAQs

401. OFAC’s 50 Percent Rule states that the property and interests in property of entities directly or indirectly owned 50 percent or more in the aggregate by one or more blocked persons are considered blocked. How does OFAC interpret indirect ownership as it relates to certain complex ownership structures?

"Indirectly," as used in OFAC’s 50 Percent Rule, refers to one or more blocked persons' ownership of shares of an entity through another entity or entities that are 50 percent or more owned in the aggregate by the blocked person(s). OFAC urges persons consider ... Read more

5. How do I determine if I have a valid OFAC match?

Please take the following “due diligence” steps in determining a valid OFAC match.If you are calling about a wire transfer or other “live” transaction:Step 1. Is the “hit” or “match” against OFAC’s Specially Designated Nationals (SDN) list, one of its other sa ... Read more

Recently Added FAQs

No.  The processing, clearing, or sending of payments related to Russian metals by a U.S. bank on behalf of non-U.S. persons is not prohibited by the Metals Services Determination where the bank:  (1) is operating solely as an intermediary; and (2) d ... Read more
No.  FAQ 1019 clarifies that, for purposes of E.O. 14068, as amended by E.O. 14114, and the Metals Services Determination, the term “Russian Federation origin” excludes “any Russian Federation origin good that has been incorporated or substantially transf ... Read more