401. OFAC’s 50 Percent Rule states that the property and interests in property of entities directly or indirectly owned 50 percent or more in the aggregate by one or more blocked persons are considered blocked. How does OFAC interpret indirect ownership as it relates to certain complex ownership structures?
"Indirectly," as used in OFAC’s 50 Percent Rule, refers to one or more blocked persons' ownership of shares of an entity through another entity or entities that are 50 percent or more owned in the aggregate by the blocked person(s). OFAC urges persons… Read more
5. How do I determine if I have a valid OFAC match?
Please take the following “due diligence” steps in determining a valid OFAC match. If you are calling about a wire transfer or other “live” transaction: Step 1. Is the “hit” or “match” against OFAC’s Specially Designated Nationals (SDN) list, one of its… Read more
Recently Added FAQs
893. Do the prohibitions in Executive Order 13959, as amended (E.O. 13959), apply with respect to Luokung Technology Corp.?
On March 9, 2021, the Secretary of Defense listed Luokung Technology Corp. (“Luokung”), pursuant to section 4(a)(ii) of E.O. 13959. On May 5, 2021, the U.S. District Court for the District of Columbia issued an order in Luokung Technology Corp. v. Department… Read more
892. What is the difference between the previous version of Sanctions List Search, and the upgraded version made live to the public on January 25, 2021?
OFAC’s Sanctions List Search application has been available to the public since 2011. Over the years the tool’s userbase grew to a point where the original infrastructure and design for the application could not keep up with demand. In late 2020, OFAC took… Read more