The Office of Foreign Assets Control, known as OFAC, maintains a list of Specially Designated Nationals and Blocked Persons (SDN list), available at www.ustreas.gov/offices/enforcement/ofac/sdn. Members may not accept funds from individuals or entities on this list. As a result, FCMs and IBs must check new customers against the list and must check existing customers against it whenever it is updated.
OFAC also administers a number of economic sanction and embargo programs that target geographic regions and governments, and this information is available at www.ustreas.gov/offices/enforcement/ofac/programs. Members should review new and existing customers to determine if any customers are located in countries under sanction programs and, if so, whether the sanctions affect the Member’s ability to do business with those customers.