OFAC Tightens Libya Sanctions

06/24/2011 6:41 PM | Anonymous
From ALTA

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) took a series of actions to further tighten U.S. sanctions against the Government of Libya. “The Treasury Department is carefully monitoring Libyan-associated entities worldwide to ensure that they are not attempting to evade sanctions and assist the Qadhafi regime,” said OFAC Director Adam Szubin. “We will remain vigilant in our efforts to isolate the Qadhafi regime from the international financial system.” 

Title and settlement agents should be reminded they need to be in compliance with requirements against doing business with targeted foreign countries, terrorists and others targeted by OFAC. Imposing Blocking Requirements on Three Foreign Libyan-owned Banks 


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