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McNabb Associates, P.C. |
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The United States government, acting through the Department of Treasury’s Office of Foreign Assets Control (OFAC), will target and “designate” an individual or business based on foreign policy and national security concerns. Collectively, the individuals and businesses are called “Specially Designated Nationals” or "SDNs." The designation can mean public humiliation and financial ruin. This form of economic warfare blocks (freezes) the designee's assets, seeks to limit its international trade and cut off all financial transactions that are subject to U.S. domestic or extraterritorial jurisdiction. It is an economic death penalty of sorts, and can last a lifetime. OFAC maintains an SDN list of over 6,000 names of individuals and businesses that have been designated for example because of international narcotics trafficking and money laundering, international terrorism, or for reasons that are country specific such as Iran. The SDN list is frequently updated. More. Our firm offers representation in SDN removal. We challenge OFAC's designation through the use of legal challenges and lobbying techniques, and seek to have our clients' name and/or businesses removed from the OFAC SDN list. The firm is currently handling a number of these matters, and is known for fighting vigorously for our clients. Our Washington, DC office is located 1 block from OFAC. |