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Financial Services Law Insights and Observations

OFAC sanctions Mexican national linked to narcotics trafficking

Financial Crimes OFAC Department of Treasury Sanctions Of Interest to Non-US Persons OFAC Designations SDN List

Financial Crimes

On March 3, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions pursuant to the Foreign Narcotics Kingpin Designation Act against a Mexican national “for his high-level role in facilitating drug shipments and money laundering for the Cartel de Jalisco Nueva Generacion (CJNG).” According to OFAC, the individual materially assisted in, provided financial or technological support for or to, or provided goods or services in support of, CJNG activities. The designated individual joins other previously designated businesses and individuals linked to CJNG for playing “critical roles in CJNG’s drug trafficking activities, including money laundering.” As a result of the sanctions, the designated individual’s property located in the U.S. or held by U.S. persons is blocked and must be reported to OFAC. Additionally, OFAC regulations generally prohibit U.S. persons from participating in transactions with the designated individual.

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