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Economic Sanctions

BSA/AML, OFAC and Fraud
May 19, 1995

TO: CHIEF EXECUTIVE OFFICER
SUBJECT: Information on Relevant Regulations for the Financial Community

The Treasury Department's Office of Foreign Assets Control (OFAC) administers a series of laws that impose economic sanctions against targeted hostile foreign countries to further U. S. foreign policy and national security objectives. The success of these economic sanctions requires the active participation and support of every financial institution. For this reason, the FDIC is providing to bankers and the general public the attached information describing OFAC, the applicable statutes, and details about the availability of computer-based, up-to-date OFAC data.

Please distribute this information to the appropriate people in your bank. Questions about OFAC regulations and computer access to OFAC information may be referred to OFAC's Compliance Programs Division at 202-622-2490.

Stanley J. Poling
Director

Attachments

Distribution: FDIC-Supervised Banks (Commercial and Savings)


FIL-36-95

Last Updated: May 19, 1995