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LEBANON

The United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) has added several individuals and entities to its Specially Designated Nationals and Blocked Persons List (SDN List), effective [Date].

Blocking and Prohibitions

According to OFAC, these individuals and entities are subject to blocking and related prohibitions under Executive Order 13441 and implementing regulations. Unless authorized or exempted, transactions by U.S. persons or in or involving the United States that involve transferring, paying, exporting, withdrawing, or otherwise dealing in property or interests in property of these designated entities or individuals are prohibited.

The SDN List

The SDN List includes individuals and entities whose property and interests in property are blocked, regardless of whether they themselves are listed. Additionally, any entity that is 50% or more owned, directly or indirectly, by a person on the SDN List is also considered blocked.

Authorized Transactions

OFAC has issued general licenses authorizing certain types of transactions and activities related to the Lebanon sanctions program. These general licenses may be published in the regulations or on OFAC’s website. For an updated list of general licenses, please visit: http://www.treasury.gov/resource-center/sanctions/Programs/pages/leb.aspx.

In addition, OFAC considers applications for specific licenses on a case-by-case basis to authorize transactions that are not exempt or covered by a general license. Requests for specific licenses must be submitted to OFAC’s Licensing Division using one of the three methods: online, fax, or U.S. mail.

Penalties

Violations of Executive Order 13441 and implementing regulations may result in:

  • Civil monetary penalties of up to $250,000 or twice the amount of the underlying transaction
  • Criminal fines of up to $1,000,000
  • Imprisonment for up to 20 years, or both

Contact Information

For more information about the Lebanon sanctions program or other OFAC-administered sanctions programs, please contact:

Office of Foreign Assets Control

U.S. Department of the Treasury 1500 Pennsylvania Avenue, N.W. Washington, D.C. 20220 www.treasury.gov/ofac (202) 622-2490