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In Challenge to Compliance Officers, Latest OFAC Sanctions Target Thousands in U.S.
By Colby Adams
printU.S. sanctions against an international gang with thousands of American members will challenge compliance officers of small and midsize banks, say attorneys and former government officials. On Thursday, the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) blacklisted Mara Salvatrucha (MS-13) as part of its effort to crack down on transnational criminal organizations. Over a quarter of the gang's 30,000 members reside in the United States in more than 40 states, according to department estimates. The designation imposes financial restrictions on more U.S.-based individuals or American citizens than any previous OFAC sanctions program, said a former analyst with the...
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