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.