OFAC rules on money transfer to Iran

If you own a company in US then make sure that you must not make any kind of partnerships and deals with the countries included in the SDN list. These countries are Iran, Korea and Iraq. These companies come under the OFACs SDN list which includes terrorist organization and business people who are making illegal trades. According to OFAC it’s prohibited for a company to indulge in business mattes with such people, organization or a country. It abides business people and organization to conceive transaction with their overseas partners if they are included in SDN list. Being a US citizen you must follow all the rules of Iran Sanctions  and regulations listed under OFACs guidelines. You must seek permission from the foreign assets control before many any transaction to IRAN.  

Even if you have to make a small money transfer you have to ask for the permission. If you are thinking that why this matter is so serious then you should know that countries like Iran are hub of illegal activities and terrorist organizations. As OFAC is controlling and monitoring every kind of exchange and transfer of fund to protect national security of United States, it’s a matter of concern for everybody to remain aware of such tasks. They have taken this step to stop terrorist attacks and deals taking place between two organizations. In the name of goods people are transferring dangerous objects inside small- small packages and because of them terrorist attacks are increasing day by day. 

OFAC and their methods are the best way to control such activities. If one of your friend or relative is in Iran and it’s urgent for you to transfer money then you must seek permission from OFAC. They will check your case thoroughly and if you are on the right side then they will help you in every possible manner. It’s wise and recommended to consult a lawyer for such tasks as they have adequate knowledge to carry out the procedures. You can search for an attorney or firm online. Hiring a reputed firm will help you to get desired results. Ferrari legal is one such firm specializes in money transfer cases to Iran. You can also seek their help if your name is appearing on the SDN list. 

These attorneys are well aware of OFAC rules and are experts in the field and financial transactions. There rates are available and they will consult you in the best possible manner. If by any mean you violated the rules and regulations of OFAC then the government will take strict actions against you. So before making any transaction to Iran or any other country it’s wise to check SDN list first.

Get the best representation for your legal needs

Having a lawyer today is as important as having a financial advisor. The legal world has become so complicated and vast that keeping track of the changes that occur in the framework along with maintaining your business has become difficult. For this reason the need of a legal advisor has arisen. Along with a legal advisor it is also necessary that you should hire the best lawyers so that you can be sure that the legal advice you are being given is sound and worth trusting. This highlights the need for the legal counsel to be reliable and trustworthy. 

At this juncture, since so many characteristics of the right legal counselor have been highlighted, it can be said that Ferrari and Associates meet all of these specifications. They have been one of the best firms in this field and have helped lots of clients find sound and effective solutions to their legal problems.

They are active involved in the fields of criminal law, federal employment matters and OFAC representation. OFAC stands for the Office of Foreign Assets Control. The firm has a vast amount of experience in representing clients who have had cases pending before the OFAC or have been charged or been involved with crimes of a federal nature of international nature. There are very few firms who handle matters of this nature and even fewer who can resolve them with the effectiveness of this firm since this is a very complicated matter. There is an official OFAC SDN list and protocols which need to be followed and for which there are a lot of legal provisions that need to be kept in mind. The firm has been able to resolve a lot of cases successfully till date which includes removal of SDN designations and counseling on export controls.

It is important that in matters of this nature which involves the OFAC SDN list you should have expert counsel because any mistake in filing papers or submitting documents on your end can result in massive financial and monetary loses which would not be good for your company. The firm can be of immense support when you have to get licenses from the government for imports from Iran or for sending money to charities or giving loans for which you need specific clearances. These are complicated matters where the right guidance would make all the difference.

U.S takes necessary steps to enforce Iran Sanctions

In the gone last week, on April29, 2014 the US has taken serious steps to enforce the Iran Sanctions. It has further blocked eight Chinese companies, one Dubai Company and other twp executives in the SDN list. They are blacklisted for dodging the American restrictions concerned with the Iranian weapons, banking and oil transactions.

The government has announced a prize of $5 million for providing any information linked with the Li Fangwei. The government is keen to arrest as he is one of the most sought out sanctions target who is charged of encouraging the procurement of Iranian weapons. Li Fangwei is also popularly known as Karl Lee. He is basically a Chinese businessman.  The prize is offered by the government in association with Treasury, State and Justice Departments.

Recently the eight companies included in the blacklist are said to be of Karl Lee. Apart from it, he is also wanted in many other federal offenses. He has not complied with the Iran sanctions. He is involved into many charges including money laundering, wire fraud and bank fraud. With this, the US has made it clear that it will use the enforcement as and when required. It is the first strict American sanctions against Iran in last three months. The step is termed as very crucial as it has erased all the misconceptions about any change of economic relations with Iran. From last some time, there was some news that government is taking significant measures to ease Iran sanctions. It wants to normalize economic relations with Iran. 

There was some modest thaw noticed between Iran and the United States. All these softening talks took a note when the two countries started seeking peace on the Iran’s disputed nuclear program. However, excluding some sanctions, all the restraints are still there in all the dealings related with Iran.

The US government has taken the sanctions evasions matter very seriously. The country had always adopted a tough stance when it came to Iran Sanctions. Iran has to carefully take all the steps and decisions pertaining to the procurement of nuclear weapon.