OFAC rules and regulations for money transfer

US business companies and their partners and have to follow all rules and regulations referring to the OFC SDN list to ensure that companies do not willingly do business with terrorist organization and other entities. US business companies are not allowed to do the business with individuals or firms being sanctioned by the United States and listed under the SDN list. The SDN lust includes terrorist organization and business people who are making illegal trades with countries like Iran, Iraq and Korea. If you are an US citizen then you have to follow very rules and regulation of OFAC. You cannot make money transfers to countries like Iran and Iraq without having permission from OFAC.
US businesses are strictly prohibited from dealing with SDNs and if they do they can suffer from serious consequences. 

It is therefore important for US persons to check OFAC's website on a regular basis to have an updated and latest OFAC SDN list. It is a part US foreign policy with an aim to stop the terrorist and other illegal funds from circulating and opposes any kind of trade relations with targeted foreign countries.

There are some separate rules and regulations regarding financial deals with Iran for all businesses in US. SDN stands for specially designated nationals and blocked person which includes terrorist organizations, international narcotics traffickers, and those engaged in activities related to the proliferation of weapons of mass destruction. In some cases business companies and individuals are included mistakenly in the list. During such scenario one should file for the OFAC SDN list removal. If you happen to be one of those individuals or owner of a business whose names have been listed on OFAC SDN, then you can avail the services of certain law firms which hold expertise in matters related to OFAC.

Any business organization or companies and US citizen are not allowed to do any kind of business or deal with Iran for example, they cannot buy, sell, and even cannot transfer money to Iran. In case you want to Transfer Money to Iran and the organization is included in this list, then it is always better to consult a lawyer who is expert in such matters. There are many lawyers and firms that will help you in transferring money to Iran or other OFAC related issues. These attorneys are well aware of OFAC rules and are experts in the field and financial transactions. The process is complex and time consuming so it’s better to hire a law firm who has expertise in such process. The firms like Ferrari- legal specialize in SDN list removal and money transfer and have in-depth knowledge and experience to deal with such cases