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Sanctions This Week: May 2nd-8th, 2016



There were no updates released from OSFI this week.

Go to the OSFI lists page.


The U.S. Department of Treasury’s Branch, The Office of Foreign Asset Control (OFAC), released two updates to five sanction lists last week.  The lists that were updated, include the following:

  • Counter Narcotics Designations;
  • Panama-related General Licenses;
  • Panama-related and Kingpin Act FAQ;
  • Kingpin Act Designations; and
  • Counter Terrorism Designations.

OFAC administers and enforces economic and trade sanctions based on U.S. foreign policy and national security goals.  The sanctions target countries, regimes, terrorists, international narcotics traffickers, the proliferation of weapons of mass destruction, and other threats to the national security, foreign policy or economy of the U.S.

The changes made to the Counter Narcotics and Kingpin Act Designation lists, all surrounded Colombian nationals and entities.  The update contained the removal of numerous construction companies based in Bogota, and added numerous entities and individuals, who were all Medellin-based.

The Panama-related updates and FAQ release, covered the maintenance of certain operations within the country.  Specifically, how to deal with listed Panamanian individuals and entities, including forms and authorizations that are required prior to any transactions being conducted.  The update adds numerous names, all of whom are currently operating in Panama, which includes companies, such as “Waked Money Laundering Organization.”

See the Counter Narcotics and Kingpin Act Designation updates on OFAC’s website.

See the Panama-related, Counter Terrorism and Kingpin Act Designation updates on OFAC’s website.

See OFAC’s recent actions page.

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