Notice of OFAC Sanctions Action, 21996-22002 [2025-09214]

Download as PDF 21996 Federal Register / Vol. 90, No. 98 / Thursday, May 22, 2025 / Notices khammond on DSK9W7S144PROD with NOTICES include or provide a reference in response. (4) 31 CFR 1010.630(a)(2)(ii) and (iii) exempt foreign banks that file a Form FR Y–7 or are publicly traded (as defined) from the requirement to maintain lists of owners. The current notice does not assign an incremental recordkeeping burden to obtaining the information necessary to establish that an exemption is available for a given foreign correspondent account. The current notice also does not attempt to parse such exempted accounts from its estimate of the number of correspondent accounts an expected affected financial institution maintains. Is this assignment consistent with current market practices? If not, please provide information about the methods, persons, and time involved in establishing that an exemption applies. (5) How does a financial institution identify potentially incorrect information, and what steps does it take, if it has reason to suspect that the information provided by a foreign bank in its certification or recertification is incorrect? Are there any additional steps (beyond a recertification request) taken by the financial institution with respect to the foreign bank’s correspondent account if the correct information cannot be obtained that would generate documentation or records that must be maintained but are currently unaccounted for in FinCEN’s estimates (for example, additional requests to the foreign bank for additional information or notifications of account termination)? What is the role or level of engagement with senior management in this process? (6) FinCEN notes above that it considers interim verifications to be uncommon. What is the likelihood with any given correspondent account that a financial institution would need to conduct an interim verification, because it suspects a foreign bank’s existing certification information is no longer correct? How long does the process take? (7) To what extent do estimates that exclude the reporting and recordkeeping burdens on foreign banks potentially underestimate the full PRA burden VerDate Sep<11>2014 16:33 May 21, 2025 Jkt 265001 associated with this OMB control number? (8) Should FinCEN revise its PRA burden estimates to account for the burden on affected foreign banks? Why or why not? If it should, please suggest sources or provide data that would facilitate this update. (9) Please comment, preferably including, or with reference to, the data relied upon to make such comments, on FinCEN’s estimates of the number of banks that maintain correspondent accounts for foreign banks. In particular, FinCEN invites: (a) public comment on the accuracy of its population estimates. (b) submission of information about the characteristics of affected U.S. banks (those that maintain foreign correspondent accounts) that may affect those banks’ ability to incur the reporting and recordkeeping requirements associated with this FinCEN regulation (such as size or operational constraints). (10) Does your financial institution have a process to track correspondent accounts for foreign banks for reasons other than to comply with BSA requirements? (11) Do covered financial institutions use the sample certification form provided by FinCEN for compliance and recordkeeping purposes, or is it more common to use a bespoke form or other method to obtain either a statement of certification or other information required to satisfy 31 CFR 1010.630 obligations? On average, how long does it take to obtain and review the information provided by a foreign bank as part of its certification or recertification? (12) Are there instances where a foreign bank seeks to reestablish a correspondent banking relationship with a covered financial institution after the foreign bank’s correspondent account was closed due to a failure to certify or recertify? If so, how commonly does this occur? Are there additional costs associated with these instances? Andrea M. Gacki, Director, Financial Crimes Enforcement Network. [FR Doc. 2025–09162 Filed 5–21–25; 8:45 am] DEPARTMENT OF THE TREASURY Office of Foreign Assets Control Notice of OFAC Sanctions Action Office of Foreign Assets Control, Treasury. AGENCY: ACTION: Notice. The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is publishing the names of one or more persons that have been placed on OFAC’s Specially Designated Nationals and Blocked Persons List (SDN List) based on OFAC’s determination that one or more applicable legal criteria were satisfied. Additionally, OFAC is providing an updated Federal Register notice for three persons previously designated by OFAC. All property and interests in property subject to U.S. jurisdiction of these persons are blocked, and U.S. persons are generally prohibited from engaging in transactions with them. SUMMARY: This action was issued on May 14, 2025. See SUPPLEMENTARY INFORMATION for relevant dates. DATES: FOR FURTHER INFORMATION CONTACT: OFAC: Associate Director for Global Targeting, 202–622–2420; Assistant Director for Licensing, 202–622–2480; Assistant Director for Sanctions Compliance, 202–622–2490 or https:// ofac.treasury.gov/contact-ofac. SUPPLEMENTARY INFORMATION: Electronic Availability The SDN List and additional information concerning OFAC sanctions programs are available on OFAC’s website: https://ofac.treasury.gov. Notice of OFAC Action On May 14, 2025, OFAC determined that the property and interests in property subject to U.S. jurisdiction of the following persons are blocked under the relevant sanctions authority listed below. BILLING CODE 4810–AL–P BILLING CODE 4810–02–P PO 00000 Frm 00111 Fmt 4703 Sfmt 4703 E:\FR\FM\22MYN1.SGM 22MYN1 VerDate Sep<11>2014 16:33 May 21, 2025 Jkt 265001 PO 00000 Frm 00112 Fmt 4703 Sfmt 4725 E:\FR\FM\22MYN1.SGM 22MYN1 21997 EN22MY25.000</GPH> khammond on DSK9W7S144PROD with NOTICES Federal Register / Vol. 90, No. 98 / Thursday, May 22, 2025 / Notices VerDate Sep<11>2014 Federal Register / Vol. 90, No. 98 / Thursday, May 22, 2025 / Notices 16:33 May 21, 2025 Jkt 265001 PO 00000 Frm 00113 Fmt 4703 Sfmt 4725 E:\FR\FM\22MYN1.SGM 22MYN1 EN22MY25.001</GPH> khammond on DSK9W7S144PROD with NOTICES 21998 VerDate Sep<11>2014 16:33 May 21, 2025 Jkt 265001 PO 00000 Frm 00114 Fmt 4703 Sfmt 4725 E:\FR\FM\22MYN1.SGM 22MYN1 21999 EN22MY25.002</GPH> khammond on DSK9W7S144PROD with NOTICES Federal Register / Vol. 90, No. 98 / Thursday, May 22, 2025 / Notices VerDate Sep<11>2014 Federal Register / Vol. 90, No. 98 / Thursday, May 22, 2025 / Notices 16:33 May 21, 2025 Jkt 265001 PO 00000 Frm 00115 Fmt 4703 Sfmt 4725 E:\FR\FM\22MYN1.SGM 22MYN1 EN22MY25.003</GPH> khammond on DSK9W7S144PROD with NOTICES 22000 VerDate Sep<11>2014 16:33 May 21, 2025 Jkt 265001 PO 00000 Frm 00116 Fmt 4703 Sfmt 4725 E:\FR\FM\22MYN1.SGM 22MYN1 22001 EN22MY25.004</GPH> khammond on DSK9W7S144PROD with NOTICES Federal Register / Vol. 90, No. 98 / Thursday, May 22, 2025 / Notices 22002 Federal Register / Vol. 90, No. 98 / Thursday, May 22, 2025 / Notices DEPARTMENT OF VETERANS AFFAIRS [FR Doc. 2025–09214 Filed 5–21–25; 8:45 am] VA National Academic Affiliations Council, Notice of Meeting BILLING CODE 4810–AL–C khammond on DSK9W7S144PROD with NOTICES The Department of Veterans Affairs (VA) gives notice under the Federal Advisory Committee Act, 5 U.S.C. ch. 10, the VA National Academic Affiliations Council (NAAC) will meet via conference call on June 18, 2025, from 1 p.m. to 3 p.m. eastern standard time (EST). The meeting session will begin and end as follows: Date Time Location Wednesday, June 18, 2025 ..................... 1 p.m. to 3 p.m. EST ............................... Virtual ....................................................... The meeting is open to the public. The purpose of the Council is to advise the Secretary, Department of Veterans Affairs, on matters affecting partnerships between VA and its academic affiliates. On June 18, 2025, the Council will receive project updates and have discussions on actions affecting the educational mission of VA. The Council will receive oral public comments from 2:25 p.m. to 2:55 p.m. EST. VerDate Sep<11>2014 16:33 May 21, 2025 Jkt 265001 Interested persons may attend and present oral statements to the Council on June 18, 2025, during the public comment period. The designated public dial in is 872 701 0185. At the prompt, enter meeting ID 744 975 227#. Individuals who speak are invited to submit a 1- to 2-page summary of their comments at the time of the meeting for inclusion in the official meeting record. Oral presentations will be limited to five minutes or less, depending on the number of participants. Interested PO 00000 Frm 00117 Fmt 4703 Sfmt 4703 Open session Yes. parties may also provide written comments for review by the Council prior to the meeting to Ms. Nellie Mitchell, Designated Federal Officer, or at any time via email to Nellie.Mitchell@ va.gov. Any member of the public wishing to attend or seeking additional information should contact Ms. Mitchell via email or by phone at 608–358–9902. E:\FR\FM\22MYN1.SGM 22MYN1 EN22MY25.005</GPH> Lisa M. Palluconi, Acting Director, Office of Foreign Assets Control.

Agencies

[Federal Register Volume 90, Number 98 (Thursday, May 22, 2025)]
[Notices]
[Pages 21996-22002]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-09214]


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DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control


Notice of OFAC Sanctions Action

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Notice.

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SUMMARY: The U.S. Department of the Treasury's Office of Foreign Assets 
Control (OFAC) is publishing the names of one or more persons that have 
been placed on OFAC's Specially Designated Nationals and Blocked 
Persons List (SDN List) based on OFAC's determination that one or more 
applicable legal criteria were satisfied. Additionally, OFAC is 
providing an updated Federal Register notice for three persons 
previously designated by OFAC. All property and interests in property 
subject to U.S. jurisdiction of these persons are blocked, and U.S. 
persons are generally prohibited from engaging in transactions with 
them.

DATES: This action was issued on May 14, 2025. See SUPPLEMENTARY 
INFORMATION for relevant dates.

FOR FURTHER INFORMATION CONTACT: OFAC: Associate Director for Global 
Targeting, 202-622-2420; Assistant Director for Licensing, 202-622-
2480; Assistant Director for Sanctions Compliance, 202-622-2490 or 
https://ofac.treasury.gov/contact-ofac.

SUPPLEMENTARY INFORMATION:

Electronic Availability

    The SDN List and additional information concerning OFAC sanctions 
programs are available on OFAC's website: https://ofac.treasury.gov.

Notice of OFAC Action

    On May 14, 2025, OFAC determined that the property and interests in 
property subject to U.S. jurisdiction of the following persons are 
blocked under the relevant sanctions authority listed below.
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Lisa M. Palluconi,
Acting Director, Office of Foreign Assets Control.
[FR Doc. 2025-09214 Filed 5-21-25; 8:45 am]
BILLING CODE 4810-AL-C
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