The United States Department of Treasury Office of Foreign Assets Control, popularly known as the OFAC maintains a list of individuals whom they believe to be involved in terrorist or disruptive activities that may be detrimental to the security of the US. The list is called the Specially Designated Nationals (SDN) List. Those who are named in the list may be individuals or corporate entities. There are times when you may not know but you may be named in the list. You may have no idea as to why your name has been designated in the list. People seeking OFAC SDN List removal are often not provided with OFAC's decision.
It may hurt you financially as you may not be allowed to gain access to your assets under the jurisdiction of the United States. No US citizen is allowed to do any kind of transaction with you. Those who violate the code will face serious repercussions. How to get your name removed from the OFAC List is the biggest question to ponder at present. First, getting your name removed from the list is an administrative matter. It may not be considered a criminal or a civil matter. Therefore, the US Federal Court may not be involved in a majority of cases involving removal process from the List. The proceedings take place before the OFAC authorities. You cannot address the removal matter with a defensive state of mind and approach.
OFAC may have a reasonable cause to believe that your name should be designated in the SDN List. However, they do not require specific evidence to support their reasonable cause. If they believe that you are involved in some kind of activity detrimental to the national security of the US, your name will be designated in the List. Nevertheless, you have to move quickly and submit your request for removal from the list at the earliest. You might take time to collect and submit a proper Request for Reconsideration. There are ways to speed up the process. You can hire an attorney who has experience to deal with such matters. Attorneys who have handled such a matter before would be conversant of the information required by the OFAC. This would expedite the removal procedure.
You have to be very patient with OFAC's procedure for removal of your name from the List. OFAC does not work in a quick manner. It may take you several months before you hear from them. Patience is the key if you are wrongly designated in the SDN List.
It may hurt you financially as you may not be allowed to gain access to your assets under the jurisdiction of the United States. No US citizen is allowed to do any kind of transaction with you. Those who violate the code will face serious repercussions. How to get your name removed from the OFAC List is the biggest question to ponder at present. First, getting your name removed from the list is an administrative matter. It may not be considered a criminal or a civil matter. Therefore, the US Federal Court may not be involved in a majority of cases involving removal process from the List. The proceedings take place before the OFAC authorities. You cannot address the removal matter with a defensive state of mind and approach.
OFAC may have a reasonable cause to believe that your name should be designated in the SDN List. However, they do not require specific evidence to support their reasonable cause. If they believe that you are involved in some kind of activity detrimental to the national security of the US, your name will be designated in the List. Nevertheless, you have to move quickly and submit your request for removal from the list at the earliest. You might take time to collect and submit a proper Request for Reconsideration. There are ways to speed up the process. You can hire an attorney who has experience to deal with such matters. Attorneys who have handled such a matter before would be conversant of the information required by the OFAC. This would expedite the removal procedure.
You have to be very patient with OFAC's procedure for removal of your name from the List. OFAC does not work in a quick manner. It may take you several months before you hear from them. Patience is the key if you are wrongly designated in the SDN List.
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