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SUBJECT MATTER DESIGNATION LISTSQ: Aside from designation due to a country-based sanctions program, how else would the U.S. government block (freeze) the assets of an individual or business?A: The U.S. government, through the Department of Treasury's Office of Foreign Assets Control (OFAC), will also designate individuals and businesses due to their association with a particular subject matter. Q: What are the different subject matters that can lead to designation? A: OFAC will designate businesses and individuals that are associated with terrorism, rough diamond trading, narcotics trafficking, transnational criminal organizations, and weapons of mass destruction proliferating. Q: How many people has the U.S. government designated based on country-based sanctions and these subject matters? A: Over 6,000. Q: What is the goal of the U.S. government's designation of individuals and businesses? A: The goal is to limit the designee's international trade and cut off all financial transactions that the U.S. has jurisdiction over. Q: Is it possible to challenge a designation under both types of sanctions (country-based and subject matter based)? A: Yes, and our firm's practice group can do that for you. Q: How do I find out if the U.S. government has designated my business or me? A: Go to the Department of Treasury’s OFAC website and click on the "Specially Designated Nationals" List. Or, while there is a fee, we can check OFAC and hundreds of other lists for you. |