Law firm handling OFAC related cases

The office of foreign control agency maintains and publishes a SDN list. This list is known as Special Designated Nations list. OFAC SDN list includes names of individuals, organizations, groups and nations who are prohibited to do business with United State. All listed individuals and organizations are prohibited because they are indulging in terrorism activities. And, considering safety for foreign policy and national security goals an agency administers and enforces economic and trade sanctions that all United States based business and organizations must have to meet. These sanctions are imposed on individuals or state sponsors of terrorism such as Iran and North Korea. In case any business company or group is listed wrongly in OFAC SDN List, a procedure is followed to remove the name from list. This type of case is typical and complicated. And, OFAC related cases take time. But, one must apply for OFAC SDN list removal process as soon as possible. A law firm helps clients involved in matters related to OFAC. There are people involved in US economic sanctions and their cases are pending before the Office of Foreign Assets Control. Those people need to approach highly experienced and expert lawyers and attorneys. Law firm also helps people/clients to deal with serious federal and international criminal offenses related matters. Specialized and experienced lawyers handle cases for clients very professionally and systematically. And, they help clients getting most favorable judgment.

Why OFAC SDN List is so Significant

OFAC necessities are meant for the companies based in US to meet the regulations laid there in by Section of Treasury’s Office of Foreign Assets Control’s. These regulations prohibit companies from any sort of involvement with other organizations and countries that are blockaded or have precedence pertaining to narcotics trafficking, terrorism, or propagation of weaponry of mass annihilation. OFAC, the abbreviation used for United States Department of Treasury Office of Foreign Assets Control, looks over this and can rightfully impose civil and criminal consequences and / or obstruct such parties’ business interests which come under the influence of United States. Consequently, OFAC SDN list governs countless economic sanctions and also oversees barriers that are intended for specific governments or geographies. This list also comprises of a record of individuals not in effect any more, expressly identified nationals, and is published from time to time.

But the regulations governing these sanctions are not a cakewalk as they are exasperating. In addition, they are also complex to understand and therefore, many people may not even judge that activities of their company or business are not in accordance of the OFAC; not unless they experience some unforeseen action by way of fines, frozen assets or even their seizure. Most of the times, it is only when the OFAC SDN list is released do the individuals know that they are a culprit and that their company has failed to comply by the OFAC acquiescence.

A simple moral of the story here is to have a backup arrangement check every single person and activity at your workplace.

All you need to know about OFAC & SDN List

OFAC, which stands for the Office of Foreign Assets Control, is an agency in the USA that monitors and enforces economic and trade sanctions against foreign nations, organizations or individuals based on the foreign policy of USA. It works under the U.S. Department of Treasury. The sanctions are imposed against such nations, organizations or individuals that are involved in terrorist related activities or pose a major threat to the security of the nation.

The agency publishes list of all such elements that are a threat to the U.S. security. The list is named as OFAC SDN. However, the list is updated from time to time and if any nation, organization or individual is no longer a threat or has been mistakenly put on the list, then the process of OFAC SDN list removal takes place. It is carried out under the guidance of U.S. Department of Treasury.

All the business enterprises working in the U.S. or dealing with U.S. organizations have to follow guidelines issued by OFAC. There are numerous organizations and individuals which are facing sanctions under these regulations. There are a few law firms that help clients who are being sanctioned by the agency for some reason. They have highly qualified and experienced team of lawyers who help their clients represent their case in front of the regulatory authority. The process of OFAC SDN list removal, however, can be a lengthy and complicated process. Therefore, it becomes that much more important to hire a professional firm that is adept in handling such cases.

Iranian Sanctions for money transfer

Special Designated Nationals list which is generally recognized as SDN list is generated by OFAC on regular basis. This list consists of the names of such persons and companies which are doubtful for the involvement in terrorism related affairs in country. OFAC is an agency which comes under the US government based foreign policy and other nationwide defence related goals. It works for the nations which come under the attack of terrorism activities. Iran and North Korea are such countries which are at the top of the list. Any business organization which is based in US or functioning from US is restricted to do business transactions with the Iran and North Korea. Each and every US based business organization is obligatory to work under the rule and regulations of OFAC. That company who does not follow them certainly comes in the SDN listing. Iran and all similar nations are facing so much trouble now a day, because of such strict Iran sanctions. Because of this there industrial and business fields are not working well. Under the rules and regulations of Iran sanctions nuclear, missile and certain military exports to Iran are banned. Besides this investment in oil, gas and petrochemicals and their exports are also not authorized or prohibited. For this reason Iran is facing an economical crisis. Ferrari & Associates, P.C. is a law firm that works for persons and companies involved in such matters related to US economy or Iran Sanctions, to do business dealings or transfer money to Iran.

Rules and regulations for SDN List Removal

Well-informed and extremely skilled attorneys and lawyers of the company efficiently present clients and their cases before OFAC. These rules and regulations are mandatory for all business companies to follow strictly. For the financial business set ups which are mainly based in US and also for those who are functioning with US based companies needs to follow all the conditions of the OFAC.

OFAC is the office of Foreign Assets Control. It is an agency that works under the US Department of Treasury. It enforces the monetary and fiscal sanctions to the business companies and entities in favour of safeguarding the nation against terrorism related affairs. Each and every business and financial organizations functioning in the states comes under these categories. There are some business dealings which are totally banned to deal with the companies found involved with Iran and other terrorist associations. These are the business which are engaged in proliferation of weapons, group demolition, and others correlated threats which are functioning in opposition to nation’s protection related matters, abroad policy and fiscal system of US. These are the companies which need to get the OFAC SDN List Removal. Due to these, Iran is suffering from great economical and political crises from many years. OFAC keep updating the SDN list in a timely manner. This ensures that the concerned business organizations are running under the rules and regulations.