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The Office of Foreign Assets Control of the U.S. Department of the Treasury
administers and enforces economic and trade sanctions against targeted foreign countries,
organizations and individuals. OFAC maintains programs that restrict financial trade with
certain countries and organizations such as Cuba and Libya. There are currently thirteen
countries on this list. Many of the sanctions are based on United Nations and other
international mandates, are multilateral in scope, and involve close cooperation with
allied governments.
OFAC also maintains a list of Specially Designated Nationals and Blocked Persons who may not
receive any financial transactions originating in the United States or using the resources of
a U.S. corporation or financial institution. Most of these individuals are suspected of
terrorism or drug trafficking.
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Data Checked:
Applicant name and address are checked against the OFAC list to ensure that the person is not
a Specially Designated National or Terrorist. Company Names are also checked against the OFAC list.
Applicant and company country are checked against the sanctions program.
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