Top Sanctions Official Says Pace To Continue

March 19, 2012

The Wall Street Journal on March 19, 2012 released the following:

“By Samuel Rubenfeld

The pace of sanctions announcements will continue, a top Obama administration official said.

Adam Szubin, director of Treasury’s Office of Foreign Assets Control, said Monday at a conference of anti-money laundering industry officials that Iran and Syria will be the focus as the year goes on, with emphasis on the international dimensions on key measures.

He said OFAC is also looking at legislation emerging from Congress on Iran and Syria, and how the office would implement it.

Szubin’s remarks opened the 17th Annual International Anti-Money Laundering Conference in Hollywood, Fla.

He said the practice by financial institutions of “stripping data and routing transactions on behalf of sanctioned parties” has mostly abated, saying that is a result of a slew of enforcement actions and because the industry decided doing it isn’t consistent with best practices.

“This is not to say there won’t be any more cases announced because we take this conduct very seriously and where we have cases we will pursue them, but the issue is mostly closed,” Szubin said.

Reviewing the past 16 months of sanctions, Szubin said a month hasn’t gone by when OFAC hasn’t make a major announcement such as expanding regulations, or implementing and dismantling an entire sanctions program, as the office did on Libya.

He said the Libya program, which found $30 billion in a matter of hours, was among the most gratifying things he’s ever done.”

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Douglas McNabb – McNabb Associates, P.C.’s
OFAC SDN Removal Videos:

OFAC Litigation – SDN List Removal

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OFAC SDN Removal Attorneys

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To find additional global criminal news, please read The Global Criminal Defense Daily.

Douglas McNabb and other members of the U.S. law firm practice and write and/or report extensively on matters involving Federal Criminal Defense, INTERPOL Red Notice Removal, International Extradition and OFAC SDN Sanctions Removal.

The author of this blog is Douglas McNabb. Please feel free to contact him directly at mcnabb@mcnabbassociates.com or at one of the offices listed above.


Treasury Sanctions Syrian State Media

March 5, 2012

The Wall Street Journal on March 5, 2012 released the following:

“By Samuel Rubenfeld

The U.S. Treasury Department said Monday it identified the Syrian General Organization of Radio and TV as subject to sanctions imposed on the country’s government.

The organization is a state-run agency subordinate to the information ministry; it operates Syria’s state-owned TV channels and the government’s radio stations, Treasury said in a statement.

It was identified as being subject to sanctions imposed on entities of the Syrian government, regardless of whether they’re specifically identified by Treasury’s Office of Foreign Assets Control. The identification, Treasury said, is simply to aid with compliance with the executive order imposing the sanctions.

“The General Organization of Radio and TV has served as an arm of the Syrian regime as it mounts increasingly barbaric attacks on its own population and seeks both to mask and legitimize its violence,” said Adam Szubin, director of OFAC, in the statement.

Monday’s identification comes less than a week after the United Nations said the death toll in the nearly year-long crackdown by the Syrian regime on the opposition reached more than 7,500.

The Syrian regime has used state entities “to repress and attack civilians” in a way that “has imposed a devastating toll on the people of Syria,” Treasury said in the statement.”

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Douglas McNabb – McNabb Associates, P.C.’s
OFAC SDN Removal Videos:

OFAC Litigation – SDN List Removal

OFAC SDN List Removal

OFAC SDN Removal Attorneys

————————————————————–

To find additional global criminal news, please read The Global Criminal Defense Daily.

Douglas McNabb and other members of the U.S. law firm practice and write and/or report extensively on matters involving Federal Criminal Defense, INTERPOL Red Notice Removal, International Extradition and OFAC SDN Sanctions Removal.

The author of this blog is Douglas McNabb. Please feel free to contact him directly at mcnabb@mcnabbassociates.com or at one of the offices listed above.


U.S. imposes sanctions on Alleged Indonesia militants

February 24, 2012

Chicago Tribune on February 23, 2012 released the following:

“Reuters

WASHINGTON, Feb 23 (Reuters) – The U.S. Treasury slapped sanctions on Thursday against three men it said were members of Jema’ah Ansharut Tauhid, or JAT, an Indonesia-based militant organization.

Treasury’s Office of Foreign Assets Control said the sanctions against Mochammad Achwan, Son Hadi bin Muhadjir and Abdul Rosyid Ridho Ba’asyir were intended to cut off their access to the international finance system by prohibiting U.S. transactions with them.

It said in a statement the move coincided with the State Department designating JAT as a terrorist organization.

JAT is headed by Abu Bakar Ba’asyir, who is also the co-founder of Jemaah Islamiya, or JI, a Southeast Asia-based militant group with links to al Qaeda. All three men have ties to JI, the Treasury said.

“The OFAC is taking another step to ensure that terrorists are cut off from the international financial system and find it ever more difficult to carry out their acts of violence, no matter where they are based,” Treasury’s OFAC director, Adam Szubin, said in a statement.

Al Qaeda is believed to have supported some JI attacks, including the Bali bombings in 2002 that killed more than 200 people.

According to the Treasury, Achwan provided funding for an Aceh militant training camp in 2010. The militants, using the name “Al Qaeda in Aceh,” plotted to kill U.S. aid workers and Western tourists.

The Treasury said Son Hadi supplied explosives used in JI’s 2004 bombing of the Australian Embassy in Jakarta, Indonesia, which killed nine people and wounded 182.”

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Douglas McNabb – McNabb Associates, P.C.’s
OFAC SDN Removal Videos:

OFAC Litigation – SDN List Removal

OFAC SDN List Removal

OFAC SDN Removal Attorneys

————————————————————–

To find additional global criminal news, please read The Global Criminal Defense Daily.

Douglas McNabb and other members of the U.S. law firm practice and write and/or report extensively on matters involving Federal Criminal Defense, INTERPOL Red Notice Removal, International Extradition and OFAC SDN Sanctions Removal.

The author of this blog is Douglas McNabb. Please feel free to contact him directly at mcnabb@mcnabbassociates.com or at one of the offices listed above.


U.S. Treasury names Alleged top Guatemalan drug trafficker

January 19, 2012

Chicago Tribune on January 19, 2012 released the following:

“WASHINGTON (Reuters) – The U.S. Treasury Department named eight individuals and entities on Thursday as drug traffickers, including a Guatemalan drug lord believed to be one of the most prolific Central American narcotics traffickers, and banned Americans from having any dealings with them.

Treasury’s Office of Foreign Assets Control said Guatemalan national Marllory Dadiana Chacon Rossell was the leader of a criminal operation with units in Honduras and Panama that supplied Mexican drug cartels, and connected her to seven other individuals and entities named as drug traffickers.

“Marllory Chacon’s drug trafficking activities and her ties to the Mexican drug cartels make her a critical figure in the narcotics trade,” said the office’s director Adam Szubin.

Chacron Rossell is also under suspicion for laundering tens of millions of U.S. dollars in narcotics proceeds each month, which would make her the most active money launderer in Guatemala, according to Treasury.

One of the people named was Jorge Andres Fernandez Carbajal, Chacon Rossell’s husband, a Honduran citizen that is accused of providing logistical support for his wife’s operation.

OFAC worked with the Drug Enforcement Administration on the investigation and said its action was part of an ongoing effort under the Kingpin Act to apply financial measures against global drug trafficking organizations.

In addition to prohibiting Americans from conducting financial or commercial transactions with the designated traffickers, Treasury said that any of their assets that come under U.S. jurisdiction will be frozen.”

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Douglas McNabb – McNabb Associates, P.C.’s
OFAC SDN Removal Videos:

OFAC Litigation – SDN List Removal

OFAC SDN List Removal

OFAC SDN Removal Attorneys

————————————————————–

To find additional global criminal news, please read The Global Criminal Defense Daily.

Douglas McNabb and other members of the U.S. law firm practice and write and/or report extensively on matters involving Federal Criminal Defense, INTERPOL Red Notice Removal, International Extradition and OFAC SDN Sanctions Removal.

The author of this blog is Douglas McNabb. Please feel free to contact him directly at mcnabb@mcnabbassociates.com or at one of the offices listed above.


Enforcing existing sanctions on Iran

November 6, 2011

The Washington Times on November 4, 2011 released the following:

By Avi Jorisch -The Washington Times

“U.S. empowered to crack down on business with regime’s central bank

In recent years, the United States has imposed a punishing sanctions regime on Iran’s banking sector. To further increase Tehran’s level of financial pain, a great number of congressional and advocacy groups have repeatedly called on the White House to blacklist the Central Bank of Iran (CBI). Doing so, the thinking goes, would seriously hamper the Islamic republic’s ability to abuse international markets in its pursuit of nuclear weapons. Yet unbeknownst to most lawmakers and Washington policymakers, the U.S. Treasury actually hasblacklisted the CBI, and not once, but twice in recent years. The real question is why the U.S. government has not enforced its own sanctions regime.

The CBI has been accused of helping fund Iran’s nuclear weapons program, facilitate money transfers to terrorist organizations and proliferate weapons of mass destruction. The Treasury Department has publicly declared that between 2001 and 2006, the CBI facilitated a $50 million payment for Hezbollah. Treasury also has disclosed that the bank engaged in “deceptive practices,” including helping Iran’s Sepah and Melli banks, two financial institutions blacklisted by the United Nations, the European Union and United States for their role in facilitating illicit international transactions.

The United States maintains a number of “blacklists” sponsored by different agencies, including but not limited to the Departments of State, Treasury and Commerce. The Specially Designated Nationals (SDN) list is a broad compilation of persons and entities – a “list of lists” – administered by Treasury’s Office of Foreign Assets Control (OFAC). Those on the SDN list include not only persons and entities involved in terrorism, but also weapons proliferators, drug traffickers and those designated under country-specific sanctions programs.

Today, the SDN list has more than 6,000 entries, includingthe Central Bank of Iran. Unless specifically exempted, all U.S. persons and entities must block any property in which an SDN has an interest and report the action to OFAC. Blocked property may not be “transferred, withdrawn, exported, paid, or otherwise dealt in” without prior authorization from OFAC. If OFAC thinks a person or institution has violated the law, it has several options at its disposal, including cease-and-desist orders, civil penalties, suspension or revocation of licenses, and criminal charges.

The Treasury Department’s Web page clearly shows that the Central Bank of Iran appears on the SDN list of June 16, 2010, under the Iran country sanctions program. Treasury’s Financial Crimes Enforcement Network also took action against the CBI; in March 2008, it issued a banking advisory that fingered the bank for the “money laundering threat involving illicit Iranian activity.”

Treasury Secretary Timothy F. Geithner recently wrote to Congressthat “all options to increase the financial pressure on Iran are on the table, including the possibility of imposing additional sanctions against the CBI.” But the United States does not need new sanctions; it just needs to implement the existing regime, which could be a very potent tool for pursuing Iranian financial activity around the globe.

At this point, concerned parties should advocate a number of measures. The United States should ask banks that provide services of any kind to the Central Bank of Iran to cease doing so immediately. If they refuse to comply, the U.S. government should take immediate legal action in accordance with the PATRIOT Act and the U.S. Code, Title 18, Section 981, freezing any U.S.-based assets they hold and blocking their access to American markets.

Moving against the Central Bank would necessitate indirect action because the bank does not appear to possess assets in America. However, the U.S. government does have the power to freeze the funds deposited in a foreign bank on behalf of the Central Bank if the foreign bank maintains an account (known as an “interbank” or “correspondent account”) at a U.S. financial institution or has actual operations or property in the United States.

Washington should begin implementing the SDN as soon as possible. At a minimum, Treasury should designate one or a number of the biggest offenders among those engaging in business transactions with Iran’s Central Bank. This would likely cause many, if not most, of the companies and banks currently doing business with, or on behalf of, the Central Bank to cut their ties.

Policymakers in Washington are now keenly interested in imposing greater financial costs on the Iranian regime in an effort to derail its nuclear program. To do so, the need to target Iran’s Central Bank should be readily apparent. So, too, should the fact that levying real pressure on Iran’s most important economic construct is simply a matter of enacting already-existing restrictions and penalties. The Obama administration should do so without delay.”

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Douglas McNabb – McNabb Associates, P.C.’s
OFAC SDN Removal Videos:

OFAC Litigation – SDN List Removal

OFAC SDN List Removal

OFAC SDN Removal Attorneys

————————————————————–

To find additional global criminal news, please read The Global Criminal Defense Daily.

Douglas McNabb and other members of the U.S. law firm practice and write and/or report extensively on matters involving Federal Criminal Defense, INTERPOL Red Notice Removal, International Extradition and OFAC SDN Sanctions Removal.

The author of this blog is Douglas McNabb. Please feel free to contact him directly at mcnabb@mcnabbassociates.com or at one of the offices listed above.