In short
- US OFAC - Recent Actions deleted at least 50 individuals and entities from the SDN List, including ABBAS, Abdul Hussein and TIGRIS TRADING, INC.
- OFAC's SDN List deletions include entities with NIT # 830088969-0 and Passport P006320 (Colombia).
What happened
OFAC released an Iran-related Alert, "Notice to Foreign Financial Institutions Conducting Business with Iran," and published an amended Iran-related Frequently Asked Question (FAQ 156). These updates are intended to inform financial institutions about compliance requirements when dealing with Iran.
Numerous deletions were made to OFAC's Specially Designated Nationals (SDN) List, including individuals and entities from Iraq, Jordan, Colombia, and other countries. The deletions include entities with identifiers such as NIT # 830088969-0 and Passport P006320 (Colombia).
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing an Iran-related Alert, "Notice to Foreign Financial Institutions Conducting Business with Iran.
In numbers
- NIT # 830088969-0 Colombian entity identifier for ACCIRENT S.A.
- Passport P006320 Colombian passport for HERNANDEZ ZEA, Luis Antonio
- FAQ 156 Amended Iran-related Frequently Asked Question
Designated in this action
Organization, regulator US OFAC SDN - Iran —
What compliance teams should check
- Screen all clients and counterparties against the updated SDN List, including deletions such as ABBAS, Abdul Hussein and TIGRIS TRADING, INC.
- Review the Iran-related Alert "Notice to Foreign Financial Institutions Conducting Business with Iran" for new compliance guidance.
- Update internal procedures to reflect changes in FAQ 156 and monitor entities with identifiers like NIT # 830088969-0 and Passport P006320.
Why it matters
OFAC's publication of an Iran-related Alert and amendments to FAQ 156 signal evolving compliance expectations for financial institutions dealing with Iran. The extensive SDN List deletions require immediate attention to ensure that screening systems are current and do not flag removed individuals or entities. Compliance officers must review the new guidance and FAQ to avoid inadvertent violations and ensure their institution's policies align with the latest regulatory requirements, especially regarding Iran-related transactions.
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