910. What are the due diligence expectations of U.S. financial institutions associated with processing fund transfers or trade finance transactions that are authorized by Iran General License (GL) N-2, Syria GL 21B, and Venezuela GL 39B?

U.S. financial institutions are authorized to process transfers of funds or engage in trade finance transactions ordinarily incident and necessary to give effect to the transactions and activities authorized by Iran GL N-2, Syria GL 21B, and Venezuela GL 39B.  

Such financial institutions may rely on the originator of the funds transfer with regard to compliance with Iran GL N-2, Syria GL 21B, and Venezuela GL 39B, provided that the financial institution does not know or have reason to know that the funds transfer is not in compliance with such GLs.

Date Updated: June 14, 2023