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FinCEN issues CDD FAQs…

FIN-2020-G002 Issued: August 3, 2020 Subject: Frequently Asked Questions Regarding Customer Due Diligence (CDD) Requirements for Covered Financial Institutions. The Financial Crimes Enforcement Network (FinCEN), in consultation with the federal functional regulators, is issuing responses to three frequently asked questions (FAQs) regarding customer due diligence requirements for covered financial institutions. […]

OFAC adds 3 to Global Magnitsky program, plus a General License and FAQ

Today, OFAC added the following people: PENG, Jiarui (Chinese Simplified: 彭家瑞), Xinjiang, China; DOB Apr 1961; nationality China; Gender Male (individual) [GLOMAG] (Linked To: XINJIANG PRODUCTION AND CONSTRUCTION CORPS). SUN, Jinlong (Chinese Simplified: 孙金龙), Xinjiang, China; DOB Jan 1962; nationality China; Gender Male (individual) [GLOMAG] (Linked To: XINJIANG PRODUCTION AND […]

OFAC updates Venezuela GL 5, adds FAQ

Today, OFAC issued General License 5D, which authorizes transactions involving PdVSA’s (Petroleos de Venezuela, S.A.) 2020 8.5% bond, but only after October 20, 2020. The previous version authorized those payments from late July on. I wonder what will happen when the bond matures? 2020 is running out fast… And OFAC […]

OFAC adds some, removes some Venezuela designations, issues a General License & an FAQ

Earlier today, OFAC added the following persons: ESPARZA GARCIA, Veronica, Mexico; DOB 16 Jan 1973; POB Sinaloa, Mexico; citizen Mexico; Gender Female; C.U.R.P. EAGV730116MSLSRR04 (Mexico) (individual) [VENEZUELA-EO13850]. LEAL JIMENEZ, Joaquin, Mexico; DOB 17 Jul 1992; POB Guanajuato, Mexico; citizen Mexico; Gender Male; C.U.R.P. LEJJ920717HGTLMQ01 (Mexico) (individual) [VENEZUELA-EO13850]. ZEPEDA ESPARZA, Olga […]

May 27, 2020: Iran-a-Rama, Part 1 – the designations, FAQs and State Department Press Release

Yesterday, OFAC designated the following two persons: AGHA’I, Majid (a.k.a. AGHAEI, Majid), Iran; DOB 13 Apr 1984; POB Ghom, Iran; nationality Iran; Additional Sanctions Information – Subject to Secondary Sanctions; Gender Male; National ID No. 1199310281 (Iran) (individual) [NPWMD] [IFSR].  SAZGAR, Amjad, Iran; DOB 16 Apr 1979; POB Babol, Iran; nationality Iran; […]