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Foreign Assets Control Act

BSA/AML, OFAC and Fraud
January 8, 1998

TO: CHIEF EXECUTIVE OFFICER
SUBJECT: Blocking of Accounts Associated With Terrorist Organizations

The U.S. Secretary of State recently designated 30 groups as Foreign Terrorist Organizations pursuant to the Antiterrorism and Effective Death Penalty Act of 1996. Their names have been added to Treasury's Office of Foreign Assets Control's (OFAC) master listing of Specially Designated Nationals and Blocked Persons. The listing is attached. New Foreign Terrorist Organizations Sanctions regulations also were published by OFAC on October 8, 1997, which are included in the attached Federal Register notice.

In FIL-41-97 , dated April 30, 1997, the FDIC provided information about OFAC, and a series of laws administered by OFAC that impose economic sanctions against targeted hostile foreign countries to further U.S. foreign policy and national security objectives. Also provided in FIL-41-97 were details about the availability of computer-based, up-to-date OFAC data.

Please distribute the attached information to the appropriate persons in your institution. For questions about this list or the procedures to block accounts, please call OFAC's Compliance Programs Division on 1-800-540-6322.

Nicholas J. Ketcha Jr.
Director

Attachments:
1) Office of Foreign Assets Control - changes to list of specially designated nationals and blocked person: https://home.treasury.gov/policy-issues/office-of-foreign-assets-control-sanctions-programs-and-information , 2) Federal Register notice from October 8, 1997, pages 52494-52501.

Electronic versions of attachments, as well as all FDIC Press Releases and FILs are available on the FDIC web site at /banknews

Distribution: FDIC-Supervised Banks (Commercial and Savings)

NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, N.W., Room 100, Washington, D.C. 20434 ((703) 562-2200).


FIL-1-98

Last Updated: January 8, 1998