OFAC – The Office of Foreign Asset Control
Compliance with OFAC regulations and the United States Patriot Act is essential for all financial institutions (defined in the Bank Secrecy Act) and other business entities regulated by the United States Patriot Act. Violations and failure to comply are most serious matters with possible severe penalties. The United States Department of Treasury maintains a list of individuals and business entities on their “OFAC” registry. Being on “the list” has immediate devastating economic and collateral ramifications. Assets are “frozen” and banks refuse to do business with the listed persons and businesses. Credit cards are not honored and businesses are often forced to close down. Employees loose their jobs and pensions. Reputations are destroyed. Families are affected as well. Of course, visas are cancelled. Being on the list is terrible in itself; being innocent and on the list is a nightmare beyond what one can imagine.
Like all governments, the United States makes mistakes. Many people and business entities have been mistakenly listed. While it is possible to be removed from the OFAC list, it is an expensive and time-consuming ordeal.
We can help. We can advise you and your business about compliance. We know all about OFAC, the applicable law and what must be done to get our clients off the dreaded list.
While there are no guarantees, we assure our clients that we will use our best efforts to be successful on their behalf.
Contact our Miami office today for a Consultation: 305.670.9919
Individuals and businesses facing the threat of investigation or imminent criminal charges are urged to contact the Miami law office of Jeffrey S. Weiner, P.A. today for a complimentary consultation and immediate intervention from our respected South Florida criminal defense law firm.
We are pleased to announce that Jeffrey S. Weiner, Esq. has been successful in having 5 individuals removed from the OFAC List of Specially Designated Nationals and Blocked Persons (“SDN List”) and Specially Designated Narcotics Traffickers (“SDNTs”).
Additionally, Mr. Weiner was successful in representing 25 business entities, which were recently removed from the SDN List in December, 2011.