InfoBytes Blog
Financial Services Law Insights and Observations
OFAC issues counter terrorism FAQs
On February 2, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) published seven new Counter Terrorism-related frequently asked questions (FAQs). Among other things, the FAQs note that: (i) cash shipments to Afghanistan may be authorized under General Licenses (GL) 14, GL 18, or GL 19, provided that certain circumstances are met; (ii) nongovernmental organizations and international organizations may provide support to municipal water systems; (iii) both U.S. and non-U.S. companies may ship food to Afghanistan; and (vi) banks may process financial transfers and other transactions associated with food shipments to Afghanistan.