OFAC
SANCTIONS
ATTORNEY
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OFAC Sanctions Lawyer
The Office of Foreign Assets Control (OFAC) is an agency of the United States Department of the Treasury that administers and enforces economic sanctions programs against countries and groups of individuals. OFAC sanctions attorneys assist clients in navigating complex U.S. sanctions regulations and ensuring compliance with U.S. law.
What is an OFAC Sanctions Attorney?
An OFAC sanctions attorney helps clients manage global business operations in compliance with U.S. sanctions laws. These lawyers assist with regulatory compliance, license applications, and defending against enforcement actions. They provide guidance on complex international transactions and help clients understand their obligations under U.S. sanctions laws.
OFAC Violations
The combination of rapidly evolving sanctions programs, broad prohibitions, and strict liability means a person or entity can be in violation of the most up-to-date sanctions without actually knowing a violation has occurred. It can be particularly difficult for those dealing with foreign entities to stay abreast of the latest OFAC sanctions. If you have a business or are a representative of a financial institution or entity that requires assistance with compliance measures regarding U.S. sanctions, or you have been notified that you are under investigation regarding alleged violations of these rules, contact a dedicated OFAC lawyer immediately. This may come in the form of a notice on your credit report.
An OFAC law firm may provide legal advice and counseling regarding international business matters, as well as assist with the following:
Import and export violations- Sanctions evasion
- Operating in sanctioned jurisdictions
- Dealing with blocked persons
- Financial transactions violations
- Non-compliance with OFAC rules
- Compliance violations and civil penalties
- Unauthorized transactions
- Failure to maintain proper records
- Export Controls and License Options
- Blocked Assets
- Record keeping regulations
U.S. citizens, as well as those with interests or property which fall under U.S. jurisdiction, are subject to OFAC sanctions. Therefore, in dealing with international matters, it is best to proceed with an extra measure of caution. Obtaining knowledgeable legal counsel from an OFAC lawyer regarding the latest national security controls imposed by the U.S. Government may be the best way to avoid possible penalties such as fines, the freezing of assets, or arrest.
OFAC Functions
Those engaged in commerce, international business, or trade with blacklisted countries or targeted persons may be subject to criminal penalties and administrative actions. Even people conducting personal transactions with family members, friends, nonprofit organizations, and charities are subject to the sanctions administered by OFAC. Willful violations of the sanctions can be prosecuted criminally by the Department of Justice. However, OFAC can hold a person civilly liable for any violation of the sanctions, including violations committed innocently or inadvertently. Accordingly, sanctions are commonly regarded as strict liability offenses.
Prohibited Transactions
How does one know if what they are doing is prohibited by sanctions? OFAC maintains a blacklist of targeted persons, entities, and organizations called the Specially Designated Nationals and Blocked Persons List (commonly referred to as the SDN List). Moreover, there are some sanctions that apply to entire nations, regardless if they appear on the SDN List. Due to ever-shifting government and political interests worldwide, this is a dynamic list that is constantly changing as new targets are added and more legal authorities are created by the Congress and President to expand sanctions. For information on SDN list removal, click that link, or contact an OFAC law firm to learn about the process of removing a name from the SDN List.
What’s more, is that the prohibitions contained in sanctions are construed very broadly. They often prohibit virtually all transactions and dealings, including those performed directly or indirectly. Also prohibited is the facilitation of a transaction performed on behalf of foreigners if that transaction would be prohibited if it had been performed by a U.S. person.
Recent Case Results
OFAC Unblocking License Obtained for SDN False Positive Match
Jexfirm LLP’s OFAC Law Group successfully obtained an OFAC unblocking license for a client whose personal funds were blocked due to an intermediary financial institution’s false positive match to the Specially Designated Nationals List. The client’s name resembled a person on the SDN list and the funds were blocked due to a lack of timely communication with the bank and related compliance concerns. A specific license to unblock the funds authorizes the financial institution to return the funds to our client.
Specific License Granted for Payment from SDN List Client
The OFAC Law Group was granted an OFAC specific license to obtain payment from an SDN client. The payment structure fell outside of the authorization of the general license to receive legal fee payments from an SDN person. Law firms must review the limitations of relevant authorizations to receive payment from SDN persons. SDN list removal is an extensive and complex process. Lawyers may need to obtain a specific license from OFAC prior to receiving payment from their client.
Breaking False Claims Act News: Qui Tam Settlement Reached
While the defendants did not admit any fault, we are happy to report that PAE agreed to pay the United States $5,000,000 to resolve the False Claims Act allegations contained in Mr. Palombo’s Complaint.
Targeted Foreign Countries and Regimes
Unrest and political uprisings in foreign nations can quickly lead to sanctions against countries and regimes once deemed suitable for international business and trade. Foreign business affairs deemed legal one day could be grounds for legal action the very next day, almost without warning. For instance, as recently as March of 2014, President Barack Obama signed Executive Order 13660 placing sanctions on those involved in the Ukrainian revolt:
“The actions and policies of persons including persons who have asserted governmental authority in the Crimean region without the authorization of the Government of Ukraine that undermine democratic processes and institutions in Ukraine; threaten its peace, security, stability, sovereignty, and territorial integrity; and contribute to the misappropriation of its assets, constitute an unusual and extraordinary threat to the national security and foreign policy of the United States.”
These individuals and those who support them — and others like them in foreign nations around the world — are subject to asset freezes and denials of immigrant and nonimmigrant entrance into the United States. Furthermore, those subject to U.S. law are prohibited from making contributions of any kind to or from these persons. U.S. persons are also prohibited from transacting with such persons for goods and services and prohibited from taking any action which serves to evade these sanctions.
As with all other OFAC sanctions, the intent behind these statutes, executive orders, and regulations is to protect national security and maintain an effective foreign policy. Currently, OFAC sanctions are in place in one form or another in these foreign countries:
South SudanSudanSyriaUkraineVenezuelaZimbabweBurmaCubaIranLibyaNorth KoreaRussiaSomaliaFinancial dealings with and support of people within these nations may possibly violate U.S. sanctions. Involvement in activity which is questionable requires a prompt audit of compliance. Proper licensing and sanctions compliance by an OFAC lawyer may help to eliminate or limit the risk of OFAC enforcement. An OFAC law firm or attorney who is well versed in OFAC regulations and U.S. sanctions is best-suited to help with these endeavors.
What Our Clients Say
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Mr. Miremadi has the great expertise and in depth knowledge of the OFAC license requirements and their expectations. He is always responsive and provided great guidance. We highly recommend him for any OFAC related cases.
'-David Bazargan
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OFAC sanctions is a very specialized area and it's important to have the right counsel. I would recommend this firm to anyone dealing with OFAC issues.
'-Michael B.
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Exceptional expertise in OFAC regulations. Their guidance was invaluable in navigating complex compliance requirements.
'-Sarah K.
OFAC Compliance and Subpoenas
With the myriad sanctions and regulations implemented and enforced by OFAC, it is important to ensure that you or your business does not violate any OFAC sanctions. Furthermore, in the unfortunate instance that you or your company has been served an OFAC Administrative Subpoena, it is vital that you provide all requested documentation and answer OFAC’s questions in a truthful and straightforward manner.
Frequently Asked Questions
Below is a list of OFAC-related frequently asked questions answered by an OFAC sanctions attorney