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What Do OFAC Rules Mean?

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OFAC is the abbreviation for the Office of Foreign Asset Control, US Department of Treasury. In pursuit of sanctions against Iran, US government has set up rules and regulations in reference to limitations of money transfers between US and Iran.

Enforcement of such rules are done in collaboration by
OFAC Agents, Federal Bureau of Investigation, Secret Service and other Relevant Agencies in Joint Task Force. The important point in all those rules and regulations is that OFAC licensing must be relevant to specific and traceable funds and the transfer of those funds.

Unless a general license or permit is available or determined based on facts, a specific license must be requested for any funds larger than $100. Violation of OFAC rules, whether you know the law or not, would implement criminal charges against you. Ignorance of law is not a defense. Contact our office today, as we are knowledge on Iran OFAC regulations before transferring funds from Iran or doing economic activities in Iran.

Seek legal advice from our office today, our goal is to guide you with your specific case.

Attorney Ramona Kennedy cares about your case and will fight for you.
 
You can contact attorney Ramona Kennedy Law Offices (Kennedy Law LC) for an initial consultation and case evaluation. The first consultation is free of charge. 
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Ramona Kennedy Law Offices (Kennedy Law L.C.) is committed to answering your questions about Immigration, Criminal Defense, Personal Injury, and Business Law issues in California.

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