Frequently Asked Questions

210 … Context Information: This FAQ is associated with the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (CISADA) . A U.S. financial institution that maintains or opens a correspondent or payable-through account for Bank of Kunlun is subject to civil penalties in the… Read more

209 … Context Information: This FAQ is associated with the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (CISADA) . To our knowledge, Bank of Kunlun does not currently hold correspondent accounts with U.S. financial institutions. The July 31, 2012 action prohibits… Read more

212 … Context Information: This FAQ is associated with the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (CISADA) . The prohibitions implemented as a result of today's action apply to Bank of Kunlun and all of its offices, around the world. … Does this finding affect Bank… Read more

195 … Context Information: This FAQ is associated with Executive Order 13608 . A U.S. financial institution must reject any wire transfer involving a listed person and file a report with OFAC within 10 days. … I am a financial institution. What do I do if I receive a wire transfer involving a… Read more

196 … Context Information: This FAQ is associated with  Executive Order 13608 . The account is not blocked; however, it is restricted and you cannot allow it to be operated without authorization from OFAC. … I am a financial institution and I hold an account for a listed person. What do I do with…

203 … Context Information: This FAQ is associated with  Executive Order 13608 . No. Without specific authorization from OFAC, U.S. persons cannot use a listed person to process personal remittances. … Can a U.S. person use a listed person to facilitate personal remittances to or from Iran or …

961 … Yes. Support to municipal water systems by NGOs for projects that directly benefit the Afghan people or otherwise relieve human suffering that would otherwise be prohibited under the Global Terrorism Sanctions Regulations, 31 CFR part 594 (GTSR), the Foreign Terrorist Organizations Sanctions… Read more

1116 … No. The Director of OFAC, in consultation with the State Department, has issued a determination pursuant to E.O. 14024 that authorizes the imposition of economic sanctions on any person determined to operate or have operated in the metals and mining sector of the Russian Federation economy.… Read more

211 … Context Information: This FAQ is associated with the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (CISADA) . Any foreign financial institution that knowingly facilitates significant transactionson behalf of designated Iranian banks – whether directly or indirectly… Read more

214 … Context Information: This FAQ is associated with the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (CISADA) . Treasury regulations provide a 10-day period in which U.S. financial institutions are authorized to engage in the transactions necessary to close an… Read more