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Topic: Office of Foreign Assets Control

	Office of Foreign Assets Control (Site not responding. Last check: 2007-10-19)
		OFAC has added a note to paragraph (c) explaining that this rule does not apply to the purchase in Cuba and importation into the United States of informational materials, which continue to be exempt from the prohibitions of the CACR, as described in Section 515.206.
		OFAC is eliminating the general license set forth in paragraph (a) of Section 515.567 for travel-related transactions incident to participation in amateur and semi-professional athletic competitions that take place in Cuba under the auspices of an international sports federation.
		OFAC is amending the general license in paragraph (a) of Section 515.570 to eliminate the authorization of quarterly $300 remittances sent from any person subject to U.S. jurisdiction who is 18 years of age or older to any household of a national of Cuba.
	www.latinamericanstudies.org /us-cuba/fac.htm (2355 words)

	Office of Foreign Assets Control - Wikipedia, the free encyclopedia
		The Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury administers and enforces economic and trade sanctions based on US foreign policy and national security goals against targeted foreign countries, terrorists, unapproved international narcotics traffickers, and those engaged in activities related to the unapproved proliferation of weapons of mass destruction.
		OFAC acts under presidential wartime and national emergency powers, as well as authority granted by specific legislation, to impose controls on transactions and freeze foreign assets under US jurisdiction.
		Many of the sanctions are based on United Nations and other international mandates, are multilateral in scope, and involve close cooperation with allied governments.
	en.wikipedia.org /wiki/Office_of_Foreign_Assets_Control (152 words)

	More Agents Track Castro Than Bin Laden
		Instead, OFAC said bin Laden used his status as a "trusted person" from a wealthy Saudi family to collect and distribute charitable funds in the name of radical Islam, essentially underwriting a recruiting and training network that became al-Qaida.
		OFAC is charged with freezing the bank accounts and other financial assets of countries, companies and individuals who are U.S. enemies.
		Richard Newcomb, the career official who has run OFAC for years under both Republican and Democratic presidents, was the subject of an internal investigation in the mid-1990s that concluded he improperly met outside the office with representatives of companies under investigation by his agency and took uncoordinated enforcement actions that potentially compromised criminal investigations.
	www.commondreams.org /headlines04/0429-12.htm (939 words)

	Testimony of Richard Newcomb, Director, U.S. Department of the Treasury Office of Foreign Assets Control, Hearing of ...
		These powers are employed to freeze, or block, foreign assets by prohibiting transfers of those assets located in the United States or in the possession or control of U.S. persons, as well as to prohibit financial transactions (such as bank lending), imports, exports, and related transactions.
		OFAC determined that these 27 individuals and entities were acting as fronts or agents for kingpins previously named by the President.
		OFAC will continue to identify businesses belonging to significant foreign narcotics traffickers on a worldwide basis and to expand the kingpin list to include additional drug traffickers, their fronts and agents.
	www.ciponline.org /colombia/02031304.htm (1496 words)

	FR Doc 03-1809
		OFAC will not accept comments accompanied by a request that all or part of the submission be treated confidentially because of its business proprietary nature or for any other reason.
		OFAC is the successor to the Office of Foreign Funds Control (the ``FFC''), which was established at the advent of World War II following the German invasion of Norway in 1940.
		OFAC was formally created in December 1950, following the entry of China into the Korean War, when President Truman declared a national emergency under TWEA in response to the threat of international communism and blocked all Chinese and North Korean assets subject to U.S. jurisdiction.
	www.bankersonline.com /topstory/fedreg/68FR4422.txt (6494 words)

	HEARING OF THE SENATE APPROPRIATIONS COMMITTEE, SUBCOMMITTEE ON TREASURY AND GENERAL GOVERNMENT (Site not responding. Last check: 2007-10-19)
		Each client has received from OFAC a requirement to furnish information, demanding a written response to a set of questions about his or travel activities, and/or a pre-penalty notice alleging that he or she traveled to Cuba in violation of the restrictions.
		OFAC evaluates, among other things, whether the U.S. program is structured to result in direct and individual dialogue with the Cuban people and whether the proposed activities with the Cuban people are educational in nature, such as participation in joint activities that may include seminars, lectures and workshops.
		OFAC is charged with enforcing the laws against Trading with the Enemy Act and other laws designed to enforce embargoes against those nations that present a threat to the United States.
	www.ffrd.org /cuba/articles/hearing.html (19392 words)

	Words Without Borders -> Doors, Windows, and the Office of Foreign Assets Control
		Then, in September of 2003, the Office of Foreign Assets Control (OFAC), the Treasury Department bureau that monitors transactions with countries under embargo, issued a ruling that informed the U.S.-based Institute of Electrical and Electronics Engineers (IEEE) that “the collaboration on and editing of manuscripts submitted by persons in Iran” was prohibited.
		In another ruling later that month, OFAC stated that an U.S. entity could not publish a book written by an Iranian living in Iran because “inherent in the publication of a book are marketing, distribution, artistic, advertising and other services not exempt from” the OFAC regulations.
		In response, an OFAC official stated that there was a standing exemption from the OFAC regulations for Cuban literature—an exception which, if it actually existed, would indeed have been bizarre (why Cuban literature alone and not Iranian, Sudanese or North Korean?).
	www.wordswithoutborders.org /article.php?lab=EAllen (2357 words)

	DPRK Briefing Book: Sanctions-The Nautilus Institute (Site not responding. Last check: 2007-10-19)
		Office of Foreign Assets Control, U.S. Department of the Treasury August 18, 2000 (Title 31 Part 500 of the U.S. Code of Federal Regulations).
		The Foreign Assets Control Regulations, authorized under the Trading with the Enemy Act, established economic sanctions against the Democratic Peopleþs Republic of Korea ("North Korea") in 1950.
		Requests for import review must be submitted by mail to North Korea Unit, Office of Foreign Assets Control, U.S. Department of the Treasury, 1500 Pennsylvania Ave., NW, Annex, Washington, DC 20220.
	www.nautilus.org /archives/DPRKbriefingbook/sanctions/TreasuryFactsheet.html (618 words)

	[No title]
		To implement Executive Order 13159 the Office of Foreign Assets Control of the U.S. Department of the Treasury is promulgating the HEU Agreement Assets Control Regulations (the ``Regulations'').
		In addition to or as an alternative to a written response to a prepenalty notice, the respondent or respondent's representative may contact the Office of Foreign Assets Control as advised in the prepenalty notice to propose the settlement of allegations contained in the prepenalty notice and related matters.
		If, after considering any response to the prepenalty notice and any relevant facts, the Director of the Office of Foreign Assets Control determines that there was no violation by the respondent named in the prepenalty notice, the Director shall notify the respondent in writing of that determination and the cancellation of the proposed monetary penalty.
	ftp.die.net /mirror/cryptome/fac011201.txt (3998 words)

	[No title]
		----------------------------------------------------------------------- SUMMARY: The Office of Foreign Assets Control of the U.S. Department of the Treasury is amending the Foreign Assets Control Regulations to implement the President's September 17, 1999, determination to ease sanctions against North Korea.
		Accordingly, the Office of Foreign Assets Control is amending the Foreign Assets Control Regulations, 31 CFR part 500 (the ``FACR''), to add Sec.
		Importations from North Korea require notification to and approval from the Office of Foreign Assets Control for purposes of compliance with Chapter 7 of the Arms Export Control Act.
	www.fas.usda.gov /info/fr/2000/061900-a.txt (994 words)

	U.S.Export Controls at LAWDOG® (Site not responding. Last check: 2007-10-19)
		The same Treasury Office of Foreign Assets Control publishes The Specially Designated Nationals List, individuals and entities blocked by sanctions or found by Office of Foreign Assets Control to be owned or controlled by, or acting on behalf of targeted governments and bad people.
		SDN includes names of persons and entities found by Office of Foreign Assets Control to be terrorists or narcotics traffickers.
		Technology is "released" for export when it is available to foreign nationals for visual inspection (such as reading technical specifications, plans, blueprints, etc.); when technology is exchanged orally; or when technology is made available by practice or application under the guidance of persons with knowledge of the technology.
	www.lawdog.com /transport/export/custom3.htm (1120 words)

	[No title]
		The assets of four of the state sponsors of terrorism which have been frozen in the United States increased by a total of $540.2 million, primarily from Iraq.
		It should be noted that assets blocked under the authority of an existing United States economic sanctions program are not subject to attachment by any claimant until such time as a claims settlement process has been established in conjunction with the lifting of sanctions against the target state.
		The Office of Foreign Assets Control is carefully examining organizations that may fall within the scope of its economic sanctions programs.
	www.fas.org /irp/congress/1993_cr/h930701-terror.htm (610 words)

	1993 Foreign Asset Control Regulations (Site not responding. Last check: 2007-10-19)
		Commentary: The Office of Foreign Asset Control is extending all current licenses issued under Section 580.515 of the Haitian Transactions Regulations which authorize transactions in connection with exportations to Haiti and importations from Haiti of certain articles.
		It formalizes the "working presumption" used by the Office of Foreign Assets Control that all entities organized or located in the Federal Republic of Yugoslavia are owned or controlled by the government, and hence their assets are subject to the sanctions.
		Commentary: The Office of Foreign Assets Control has published a new Appendix to the Haitian Transactions Regulations, which lists the members of the de facto regime in Haiti who seized power illegally from the democratically elected government of President Jean-Bertrand Aristide and whose assets are frozen.
	www.t-b.com /files/93treas.htm (1109 words)

	FR Doc 03-13053
		OFAC also is publishing a technical amendment to its regulatory definition of the terms ``humanitarian activities,'' ``humanitarian purposes,'' and ``humanitarian support.'' DATES: Effective May 7, 2003.
		OFAC will not accept public comments accompanied by a request that a part or all of the submission be treated confidentially because of its business proprietary nature or for any other reason.
		OFAC will return such a submission to the originator without considering the comments in the development of final regulations.
	www.bankersonline.com /topstory/fedreg/68FR28753.txt (2408 words)

	1996 Foreign Asset Control Regulations
		Commentary: The Treasury Department’s Office of Foreign Assets Control has amended the Iranian Assets Control Regulations to remove Shams Pahlavi (the sister of the former Shah of Iran) from the list of persons whose U.S. assets were blocked, because all pending litigation against her has been terminated.
		Commentary: The Treasury Department’s Office of Foreign Assets Controls has published a final rule authorizing American companies to enter into executory contracts with the Government of Iraq for the purchase of Iraqi-origin oil, the sale of pipeline related equipment, and sale of humanitarian goods, provided that proceeds are placed in a U.N.-designated escrow account.
		Commentary: The Office of Foreign Assets Control has authorize payments by the Governments of Syria and Sudan of stipends and scholarships for Syrian and Sudanese nationals attending accredited educational institutions in the United States.
	www.t-b.com /files/96treas.htm (1102 words)

	In Our Hands: extra \| Treasury's Office of Foreign Assets Control
		Most exports that require a license are controlled by either the Commence Department (for commercial items that have possible military applications) or by the State Department (for defense articles, services, and related technologies).
		OFAC is responsible for economic and trade sanctions against targeted foreign countries and their agents, terrorists, and narcotics traffickers.
		OFAC has information on its website at http://www.treas.gov/ofac, or the office can be called at 1-800-540-6322.
	www.itt.com /IOHextra/rel11/text-article5.html (559 words)

	[No title] (Site not responding. Last check: 2007-10-19)
		He is the director of the Office of Foreign Assets Control in the Treasury Department, and his bio has been circulated.
		In this regard, we are working closely with foreign governments and other entities to encourage reliable oversight and controls on the regulation and use of charitable funds.
		So we have a total of 31 foreign narcotics kingpins giving Foreign Assets Control the ability to name the names of derivatives, individuals owned or controlled or acting for/on their behalf.
	www.brook.edu /rios/data/sources/event/3b469e44d8aaff3b800036287f000001.xml (9448 words)

	NARA - Guide to Federal Records - Records of the office of Foreign Assets Control
		History: Established as a unit of the Office of the Secretary of the Treasury pursuant to EO 8389, April 10, 1940, under authority of the Trading with the Enemy Act (40 Stat.
		OLF activities relating to blocked foreign funds were transferred to the Office of Alien Property, Department of Justice, 1948.
		Division of Foreign Assets Control, established in the Office of International Finance by Treasury Department order, December 17, 1950, administered controls over the assets of China and North Korea that had been frozen after Chinese intervention in Korea (October 1950), and certain regulations and orders issued under the amended Trading with the Enemy Act.
	www.archives.gov /research/guide-fed-records/groups/265.html (449 words)

	Office of Foreign Assets Control (Site not responding. Last check: 2007-10-19)
		The Office of Foreign Assets Control (OFAC) of the Department of the Treasury administers and enforces economic sanctions against targeted foreign countries, terrorism sponsoring organizations, and international narcotics traffickers based on U.S. foreign policy and national security goals.
		While OFAC is responsible for promulgating, developing, and administering the sanctions for the Secretary of the Treasury, all of the financial institution regulators, including the NCUA, cooperate to ensure financial institution compliance.
		The primary tool used by the OFAC is a listing of "Specially Designated Nationals and Blocked Persons." This list changes regularly in response to changes in foreign policy.
	www.ncua.gov /reg_alerts/Prior2003/99-RA-6.html (241 words)

	AAUP Travel to Cuba Letter (Site not responding. Last check: 2007-10-19)
		Re: Office of Foreign Assets Control, Treasury; FR Doc.
		We have learned that the ten-week requirement was devised by the Office of Foreign Assets Control to ensure that only legitimate academic programs would be permitted.
		We agree with the detailed comments submitted to the Office of Foreign Assets Control by others who have pointed to the manifest dangers of these amendments for scholarship and learning.
	www.aaup.org /Issues/international/country/Cuba/cubatravel3.htm (324 words)

	Foreign Affairs Affecting Scholarly Communication (Site not responding. Last check: 2007-10-19)
		This ruling stems from an earlier ruling issued by OFAC in 2003 that prohibited any U.S. publisher or author from making any editorial changes, without a government-issued license, on works produced by individuals residing in countries subject to U.S.-trade embargoes.
		In September 2003, the Office of Foreign Assets Control (OFAC) determined that the Institute for Electrical and Electronic Engineers (IEEE) would no longer be allowed to publish scientific papers by Iranian authors if any copy-editing is undertaken.
		The U.S. government's position behind this ruling is that editing papers, which includes changing a single comma, by the foreign authors provides them with a service and therefore violates the trade embargo.
	www.arl.org /info/newOFAC.html (746 words)

	USATODAY.com - Treasury blocks assets of U.S. branch of Saudi charity (Site not responding. Last check: 2007-10-19)
		WASHINGTON (AP) — The Treasury Department has moved to block the assets of the U.S. branch of a large Saudi charity that has been accused of diverting money to help bankroll al-Qaeda's terrorist activities.
		The Al-Haramain Islamic Foundation branch affected by Thursday's announcement is listed as having mailing addresses in Ashland, Ore., and Springfield, Mo., according to Treasury's Office of Foreign Assets Control.
		OFAC said the financial assets and property belonging to the branch "are blocked pending investigation" under the 2001 USA Patriot Act.
	www.usatoday.com /news/washington/2004-02-19-treasury-charity_x.htm (411 words)

	US Dept of State - New U.S. Treasury Office to Focus on Terrorist Money Flow
		Treasury's Office of Terrorism and Financial Intelligence will enhance the precision of our relentless fight to dismantle the terrorists' network of financial and logistical support and disrupt their plans to harm America and all other nations that value liberty and freedom," said Secretary of the Treasury John W. Snow.
		The new office will not only focus on the financial war on terror, but also protect the integrity of the financial system, fight financial crime, enforce economic sanctions against rogue nations and assist in the ongoing hunt for Iraqi assets.
		Approximately $200 million in terrorist-related assets have been frozen or seized and kept out of the hands of terrorists as a result of efforts by the United States and its allies.
	usinfo.state.gov /ei/Archive/2004/Mar/08-813177.html (972 words)

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