OFAC Alert

Read or download PDF of Overview Chapter here


As of December 2017, the United States Treasury Department’s Office of Foreign Asset Control (“OFAC”) will begin using an expanded version of the Magnitsky Act as a basis for applying sanctions to individuals and entities suspected of corruption related activities. OFAC will publish the names of these newly designated individuals and entities as it currently does with its Specially Designated Nationals and Blocked Persons List, and Specially Designated Narcotics Traffickers List. The potential sanctions associated with such a listing may include prohibition to enter the United States, visa cancellation, freezing of assets in the United States, and a prohibition of engaging in business with U.S. persons and entities.

For more information, please contact Diaz Reus attorneys Michael Diaz, Jr., Robert Targ, or Fausto Sanchez by phone at (305) 375-9220, or by email at mdiaz@diazreus.comrtarg@diazreus.com, or fsanchez@diazreus.com.