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OFAC’s Economic Sanctions List Should Include Better Identifiers, Say Analysts
By Brian Orsak
printThe U.S. Treasury Department should improve the information it provides financial institutions about persons and organizations it wants sanctioned, say analysts. The department's Office of Foreign Assets Control (OFAC) administers and enforces economic and trade sanctions against foreign countries and entities that the U.S. deems present a threat of terrorism, narcotics trafficking, and nuclear weapons proliferation. The agency maintains a sanctions list of specially designated nationals (SDN) that U.S. financial institutions are prohibited from working with. But the sanctioning falls short because little information-often only a name and potential aliases-is provided about individuals named on the list, according to Thomas...
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