What is the Role of OFAC? The Office of Foreign Assets Control has one overarching goal: to carry out sanctions – most commonly economic and trade based – against individuals, entities, regimes and entire countries that are engaged in illicit activities. The OFAC meaning of what constitutes ‘...
or mixed, tangible or intangible, “or interest or interests therein, present, future, or contingent.” Practically everything that banks do every day involves “property” within the meaning of the regulations. Likewise, “property interest” is defined as any interest whatsoever, direct or indire...