DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
Notice of Change in Schedule in Agency Penalty Enforcement Website Postings
Action: The Office of Foreign Assets Control ("OFAC") has determined that it will post certain civil penalties information on the agency's website on the first Friday of each month (or if that is a federal holiday or involves the closure of government offices for other reasons or if business exigencies preclude the practicality of postings, then on the next reasonably available business day). Accordingly, the next website publication of OFAC's concluded civil penalty enforcement actions will be on Friday, October 3, 2003.
Background: Section 501.805(d) of the Reporting, Procedures and Penalties Regulations, 31 CFR Part 501, provides that after the conclusion of a civil penalties proceeding that results in either the imposition of a civil monetary penalty or an informal settlement, OFAC shall make available to the public certain information on a routine basis, not less frequently than monthly. In practice, OFAC has released the information on a weekly basis. OFAC has now determined, after several months of weekly releases, that the interests of the public and the transparency of OFAC's enforcement actions will be adequately served by a schedule of monthly website publications as provided in the regulations.