OFAC is a short term for the Office of Foreign Assets Control. It is an agency that works under US Department of Treasury. It administers and enforces economic trade sanctions. These sanctions are based on foreign policy of United States. These sanctions are based on National security goals against those engaged in activities related to the proliferation of weapons of mass destruction. These sanctions are imposed against targeted foreign countries and regimes, terrorists and international narcotics traffickers and other threats to the national security. OFAC agency acts under Presidential national emergency powers. It holds holds authority granted by specific legislation to impose controls or bans on transactions. It holds authority to freeze assets under US jurisdiction.
SDN list also known as the Specially Designated Nationals List is administered by this agency. The agency is responsible to maintain, update and publish the list. SDN list includes names of individuals and organizations with which/whom United States citizens and permanent residents are prohibited from doing business. If in case any entity or individual is mistakenly-placed on the SDN list, it can petition OFAC to reconsider. This does not mean a simple application or request form will work. They are not actually required to remove an individual or entity from the SDN list. The process of OFAC SDN list removal is typical. It is actually a serious matter. Court may or may not approve to get the name removed from the OFAC SDN List. A proper legal procedure, court-trials are conducted. Such matters may take longer and longer time to get resolved. A person involved in such matters must seek immediate legal assistance from expert solicitor or lawyer.
Hiring an expert lawyer will help a person to get out of this situation. As lawyers are experts, they are professionals and dealing with the same several cases on regular basis, they understand how to take proceedings further and what to follow in order to get the OFAC SDN List Removal. There are online web-portals maintained by legal law firms. They offer legal assistance to all people involved in such matters. There are expert attorneys and lawyers to handle client’s case. They provide assistance right from beginning to end. Meanwhile, clients need to have patience and co-operate with their lawyers completely.
SDN list also known as the Specially Designated Nationals List is administered by this agency. The agency is responsible to maintain, update and publish the list. SDN list includes names of individuals and organizations with which/whom United States citizens and permanent residents are prohibited from doing business. If in case any entity or individual is mistakenly-placed on the SDN list, it can petition OFAC to reconsider. This does not mean a simple application or request form will work. They are not actually required to remove an individual or entity from the SDN list. The process of OFAC SDN list removal is typical. It is actually a serious matter. Court may or may not approve to get the name removed from the OFAC SDN List. A proper legal procedure, court-trials are conducted. Such matters may take longer and longer time to get resolved. A person involved in such matters must seek immediate legal assistance from expert solicitor or lawyer.
Hiring an expert lawyer will help a person to get out of this situation. As lawyers are experts, they are professionals and dealing with the same several cases on regular basis, they understand how to take proceedings further and what to follow in order to get the OFAC SDN List Removal. There are online web-portals maintained by legal law firms. They offer legal assistance to all people involved in such matters. There are expert attorneys and lawyers to handle client’s case. They provide assistance right from beginning to end. Meanwhile, clients need to have patience and co-operate with their lawyers completely.
