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 othe ... Read more
Recently Added FAQs
1122. Certain transactions related to telecommunications and certain internet-based communications are already authorized by Russia-related General License (GL) 25C. What additional transactions does Russia-related GL 65 authorize?
The United States generally supports the free flow of information globally as facilitated by telecommunications and certain internet-based communications. Accordingly, GL 25C authorizes — with certain exceptions and exclusions — (i) all transactions ordinaril ... Read more
1121. What does Global Magnitksy General License 7, Authorizing Certain Transactions Involving Tabacalera del Este, S.A. or Tabacos USA Inc. Pursuant to the Tobacco Master Settlement Agreement, authorize?
Global Magnitsky General License 7 authorizes certain transactions involving the blocked entities Tabacos USA Inc. (Tabacos) and Tabacalera del Este S.A. (Tabesa) (or any entity in which Tabesa or Tabacos owns, directly or indirectly, individually or in the ag ... Read more