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OFAC's SDN LIST WHAT DOES IT MEAN

Bachir El Nakib ACAMS Faculty Mmember


OFAC SDN List FAQs
What is the SDN List?
What does it mean 

 

 

Specially Designated Nationals And Blocked Persons List (SDN) Human Readable Lists. ... Collectively, such individuals and companies are called "Specially Designated Nationals" or "SDNs." Their assets are blocked and U.S. persons are generally prohibited from dealing with them.

 

Who List Specially Designated Nationals?

 

The Office of Foreign Assets Control (OFAC) of the Department of the Treasury administers and enforces economic and trade sanctions against targeted foreign countries and regimes, terrorists, international narcotics traffickers, persons engaged in the proliferation of weapons of mass destruction, and others who present ...

 

Which organization has the right to unfreeze the assets of Specially Designated Nationals?

Washington, D.C. The Office of Foreign Assets Control (OFAC) is a financial intelligence and enforcement agency of the U.S. Treasury Department.

 

An OFAC SDN List Removal Lawyer may be advisable if you are placed on OFAC’s Specially Designated Nationals (SDN) List. Removal from the Office of Foreign Assets Control (OFAC) SDN List is not a simple or easy process and SDN List Removal Attorney Mohsen Zarkesh who is up to date and specializes in OFAC Sanctions List removal may best represent your interests in this critical process.

For most individuals and companies, the consequence of being identified as an SDN is severe and devastating. Persons engaging in international trade or who have financial ties with international entities, especially international banks, are most at risk of losing access to their personal or business properties and monies. Businesses from various industries may soon deny you a broad range of services, move to close your accounts, and seek to block and freeze your property or funds that they have in their possession.

HOW CAN I BE REMOVED FROM THE OFAC SDN LIST?


Filing a Request for Administrative Reconsideration is typically the first step in starting the removal process with OFAC. This request is also called a Petition for Removal and it is likely the most significant filing you will provide to OFAC in your case.

The petition may include background facts, legal and policy arguments, and calculated analysis on why the designated individual or company should be removed from the SDN List.


After submitting this petition, OFAC may submit to you or your company a follow-up questionnaire. Whether they do this or not depends on the information they possess relevant to the information and arguments you put in your petition.

OFAC’s response time to the petition for removal is not fast. OFAC may take 6-30 months to respond to any petition or request related to your removal from the SDN List.

WHAT CAN I ARGUE TO BE REMOVED FROM THE OFAC SDN LIST?


There are several arguments that one can use to greatly increase the chances of removal from the SDN List. You can argue that the allegations and designation is a case of mistaken identity. You can also argue that there has been a sufficient change in circumstances from OFAC’s claims against you place you on the SDN List. The legal principle behind both of these arguments is the negation of OFAC’s legal reasoning and factual basis for placing you on the SDN List.

The mistaken identity argument should demonstrate that OFAC has incorrectly identified you or your company where such information would sufficiently negate the basis for your designation.

For example, if OFAC alleges that you own or control a football team involved in money laundering and drug trafficking, and you are able to provide satisfactory information to show that you in fact did not have ownership or control over the football team, then you may be removed from the SDN List. Please note that successfully arguing this does not start and end with simply asserting that OFAC has made a mistake. You or your company needs to have satisfactory accompanying documentation and evidence that the allegations OFAC has made underlying the reason you were placed on the SDN List is incorrect.

A change in circumstance argument may show that you or your company no longer engages in the activities that you were sanctioned for previously. One can show this by substantiating a lack of ability to further engage in such activity and that you do not intend to continue to engage in the activity that OFAC used to place you on the SDN List. The addition of compliance policies, removal of corporate officers engaged in the activity, or corporate restructuring may further advance your change of circumstances argument.

For example, if OFAC alleges that you own or control a futbol team that engaged in money laundering and drug trafficking, you may show that the futbol team entity has dissolved and is not in business anymore. You may resign from the futbol team or institute policies that would prevent the illicit activity from continuing to take place in the futbol team’s corporate organization. You may divest from any investments or financial accounts that were involved in the matters that concern OFAC. You may also hold those who engaged in the activities responsible and dismiss them from their positions. Some or a combination of these changes may substantially increase the chance that your change in circumstances argument is successful in removing you or your futbol team from the SDN List. Most important for your Petition for Removal is accurately explaining and providing necessary documenting demonstrating the changes that were made that would decrease concern that you or your company would continue to engage in the activity in the future.

HOW DO I SEE THE EVIDENCE OFAC IS USING AGAINST ME TO PUT ME ON THE SDN LIST?


You and your SDN List Removal Attorney may want to review the evidence OFAC is using against you prior to or during the removal process. The general premise behind your designation is typically found in OFAC’s press release.

 

 Additionally, you may submit a Request for Administrative Record to OFAC to obtain the evidentiary memorandum and the attached exhibits that allowed for OFAC to place you on the SDN List. This record may be partially classified but OFAC at the minimum should release the unclassified portions to you and your attorney.

The Request for Administrative Record has its own rules, regulations, timeline, and process and it is important to submit this petition in a manner that allows for the greatest chance of obtaining as much of the record as possible. OFAC is again unfortunately slow in this process and it may take months to obtain this record. How you decide to move forward and include the relevant information from the record in your Petition for Removal is up to you, your lawyer, and the strategy you wish to take for removal from the SDN List.

DO I NEED A SDN LIST REMOVAL LAWYER FOR MY PETITION?


Although OFAC does not require you to have a lawyer or attorney to submit a Request for Administrative Reconsideration, it may be advisable to hire a lawyer who sufficiently understands OFAC sanctions as well as SDN List Removal. Hiring OFAC List Removal experienced consul is recommended. 

WHAT CAN A OFAC LIST REMOVAL LAWYER DO FOR MY CASE?


Whether you have already submitted a petition to OFAC for removal from the OFAC SDN List or have yet to do so, SDN List Removal Lawyer.... can help advise you or your company on what may be advisable to include or add in the petition, the specific arguments that should be made, and the recommended changes that would increase the likelihood of removal from the list.

Skilled lawyer.... will sit down with you and understand all the relevant facts of your case. After explaining to you all of your options, they will initiate a customized legal strategy that best fits you and your company but that would also increase the likelihood of success in being removed from the list. SDN List Removal lawyer... will work with you to submit a comprehensive Petition for Removal with all the necessary facts and arguments.

 




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