OFAC DESIGNATES TERRORIST LEADERS, FACILITATORS AND ENTITIES USING NEW, ENHANCED POWERS

On 10th September, OFAC used newly enhanced counter-terrorism sanctions authorities to designate a series of terrorist leaders, facilitators, and entities.  It designated 15 leaders, individuals, and entities affiliated with terror groups, and including entities affiliated with HAMAS, the Islamic State of Iraq and Syria (ISIS), al-Qa’ida, and the Islamic Revolutionary Guard Corps Qods-Force (IRGC-QF).  The new powers provides the US Treasury and State Department with new tools that allow the US Government to better identify and designate perpetrators of terrorism worldwide.

The new powers under Executive Order EO 13224 –

  • Contains new designation criteria that allows the US Government to more efficiently target leaders or officials of terrorist groups as well as individuals who participate in terrorist training;
  • Provides for secondary sanctions against foreign financial institutions that have knowingly conducted or facilitated significant financial transactions on behalf of any person sanctioned under EO 13224;
  • Authorises the Treasury to prohibit a foreign financial institution that has knowingly conducted or facilitated a significant transaction with any Specially Designated Global Terrorist (SDGT) from opening or maintaining a correspondent or payable-through account in the US;
  • Consolidates US counter-terrorism authorities under a single sanctions programme; and

This new authority serves to put all foreign financial institutions on notice that enabling terrorists and their financial backers to rely upon the international financial system to facilitate their malign activities will have consequences.

https://home.treasury.gov/news/press-releases/sm772

https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20190910.aspx

This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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