Diaz Reus: News Flash

Published 07 December 2017

As of December 2017, the United States Treasury Department’s Office of Foreign Asset Control (“OFAC”) will begin using an expanded version of the Magnitsky Act as a basis for applying sanctions to individuals and entities suspected of corruption related activities. OFAC will publish the names of these newly designated individuals and entities as it currently does with its Specially Designated Nationals and Blocked Persons List, and Specially Designated Narcotics Traffickers List. The potential sanctions associated with such a listing may include prohibition to enter the United States, visa cancellation, freezing of assets in the United States, and a prohibition of engaging in business with U.S. persons and entities.


UPDATED OF AC ALERT


As DRT reported last month, the United States moves forward and is initiating its first prosecution .