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Financial Services Law Insights and Observations

OFAC sanctions Mexican national

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

Financial Crimes

On September 22, 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-based cartel boss. OFAC noted that the designated individual allegedly oversaw a drug trafficking corridor and is allegedly responsible for smuggling drugs in the U.S. OFAC also designated seven other Mexican nationals and two Mexican entities. As a result of the sanctions, all property and interests in property belonging to the sanctioned persons subject to U.S. jurisdiction are blocked and must be reported to OFAC. U.S. persons are also generally prohibited from engaging in any dealings involving the property or interests in property of blocked or designated persons.

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