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Notice of OFAC Sanctions Actions
Plain English Summary
The U.S. Treasury's Office of Foreign Assets Control (OFAC) has added certain individuals to its list of sanctioned persons. This means that any property or assets owned by these individuals that fall under U.S. law are frozen, and U.S. citizens cannot do business with them. Insurance agents should ensure they do not engage in any transactions with these individuals to remain compliant with U.S. regulations.
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The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing the names of one or more persons that have been placed on OFAC's Specially Designated Nationals and Blocked Persons List (SDN List) based on OFAC's determination that one or more applicable legal criteria were satisfied. All property and interests in property subject to U.S. jurisdiction of these persons are blocked, and U.S. persons are generally prohibited from engaging in transactions with them.