Stay Ahead: Monitor Specially Designated Nationals Effortlessly
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Monitoring "Specially Designated Nationals" (SDNs) in the Federal Register is crucial for various sectors, ensuring compliance, leveraging funding opportunities, and sharpening strategic responses to regulatory shifts. But why does it matter?
The U.S. Department of the Treasury, through the Office of Foreign Assets Control (OFAC), maintains a list of individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries. It also lists individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific. This SDN list is regularly updated as the geopolitical landscape shifts, revenues are moved, and new threats are identified.
Why Monitoring SDNs Matters
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Avoid Regulatory Penalties: HR professionals, compliance officers, and financial institutions must ensure they aren't engaging in transactions with SDNs. Failing to monitor updates can result in hefty fines and legal ramifications.
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Seize Funding Opportunities: Businesses, especially those in international trade or finance, need to navigate SDN modifications to harness opportunities like new markets or partnerships as entities are removed from the list.
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Simplify Monitoring Efforts: Cybersecurity teams and compliance departments use this data to stay aligned with executive orders and other legal mandates aimed at safeguarding national security.
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Respond to Open Comment Periods: Industry consultants and legal practitioners engage in shaping policy through public comment periods, critical for preempting shifts that could impact sectors like technology or finance.
Industries Impacted by SDN Monitoring
The stakeholders most affected by SDN updates include:
- Financial Services: Banks and investment firms often have intricate international connections and must ensure thorough compliance to avoid sanctions.
- Tech Firms: Companies operating in software and telecommunications need to ensure they aren't inadvertently supporting sanctioned technology.
- Healthcare Providers: Organizations must ensure compliance in drug transactions or partnerships that could be indirectly linked to prohibited parties.
- Legal Practices: Lawyers specializing in international law or corporate compliance stay updated to advise their clients properly.
Current Trends & Regulatory Impacts
Global regulations are becoming increasingly stringent. The rise of cryptocurrency has particularly underscored the importance of monitoring the SDN list to prevent digital currency from reaching sanctioned entities and engaging in illegal activities.
Simplified Monitoring with AI
Given the complexity and pace at which the SDN list evolves, having a simplified, real-time monitoring system is invaluable. FedMonitor provides AI-powered alerts specifically tailored to your sector’s needs, ensuring timely, relevant updates.
- Proactive Alerts: Stay ahead with automatic updates integrated directly into tools you already use, like Slack, Microsoft Teams, and Salesforce.
- Focused Relevance: Get alerts that matter to your specific context—filter out noise and prioritize critical updates.
- Effortless Integration: FedMonitor seamlessly integrates into your existing workflow, ensuring zero disruption to business operations.
Visit our FAQs or Contact Us for more information on how to customize monitoring solutions to suit your organization’s requirements. Keep your team informed and compliant, effortlessly. Ready for an edge in regulatory monitoring? Sign up today.
Topic Details
Related Agencies
Latest Documents
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The Department of the Treasury's Office of Foreign Assets Control (OFAC) is removing from the Code of Federal Regulations the Burmese Sanctions Regulations as a result of the termination of the national emergency on which the regulations were based.
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Rule | Jun 16, 2017 |
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The Department of the Treasury's Office of Foreign Assets Control (OFAC) is amending the Burmese Sanctions Regulations to add a general license authorizing certain transactions related to U.S. persons residing in Burma. OFAC is also incorporating a g...
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Rule | May 18, 2016 |
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The Department of the Treasury's Office of Foreign Assets Control (OFAC) is amending and reissuing in their entirety the Burmese Sanctions Regulations to implement Executive Order 13448 of October 18, 2007, "Blocking Property and Prohibiting Certain...
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Rule | Jun 30, 2014 |
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The Department of the Treasury's Office of Foreign Assets Control ("OFAC") is adopting a final rule amending the Iranian Transactions and Sanctions Regulations ("ITSR") by expanding an existing general license that authorizes the exportation or reexp...
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Rule | Apr 07, 2014 |
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The Department of the Treasury's Office of Foreign Assets Control ("OFAC") is amending the Sudanese Sanctions Regulations by issuing two general licenses that authorize all activities and transactions relating to the petroleum and petrochemical indus...
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Rule | Dec 08, 2011 |
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The Department of the Treasury's Office of Foreign Assets Control ("OFAC") is adopting as final, with changes, a previously issued interim final rule. These changes primarily amend the Sudanese Sanctions Regulations and the Iranian Transactions Regul...
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Rule | Oct 12, 2011 |
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The Department of the Treasury's Office of Foreign Assets Control ("OFAC") is adding the Iraq Stabilization and Insurgency Sanctions Regulations as a new part to the Code of Federal Regulations, to implement Executive Order 13303 of May 22, 2003, Exe...
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Rule | Sep 13, 2010 |
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The Department of the Treasury's Office of Foreign Assets Control ("OFAC") is implementing Executive Order 13350 of July 29, 2004, which terminated the national emergency declared with respect to Iraq in Executive Order 12722 of August 2, 1990, and r...
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Rule | Sep 13, 2010 |
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The Department of the Treasury's Office of Foreign Assets Control ("OFAC") is adopting an interim final rule which makes technical changes to certain sections of the Sudanese Sanctions Regulations and the Iranian Transactions Regulations, 31 CFR part...
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Rule | Nov 23, 2009 |
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The Department of the Treasury's Office of Foreign Assets Control ("OFAC") is amending the Sudanese Sanctions Regulations by issuing a general license that authorizes the exportation and reexportation of agricultural commodities, medicine, and medica...
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Rule | Sep 09, 2009 |
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The Office of Foreign Assets Control of the U.S. Department of the Treasury ("OFAC") is amending the Sudanese Sanctions Regulations to expand the scope of an existing authorization of certain imports for diplomatic or official personnel to include th...
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Rule | Jun 10, 2009 |
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The Office of Foreign Assets Control of the U.S. Department of the Treasury is amending the Sudanese Sanctions Regulations, 31 CFR part 538, to include several new provisions implementing Executive Order 13412 of October 13, 2006.
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Rule | Oct 31, 2007 |
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The Office of Foreign Assets Control of the U.S. Department of the Treasury is amending the Sudanese Sanctions Regulations, 31 CFR part 538, and the Iranian Transactions Regulations, 31 CFR part 560, to authorize the exportation or reexportation, dir...
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Rule | Apr 03, 2007 |
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The Office of Foreign Assets Control of the U.S. Department of the Treasury is amending and reissuing in their entirety the Burmese Sanctions Regulations to implement Executive Order 13310 of July 28, 2003, which placed new sanctions on Burma.
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Rule | Aug 16, 2005 |
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The Office of Foreign Assets Control ("OFAC") of the U.S. Department of the Treasury is revising the Reporting, Procedures and Penalties Regulations (the "RPPR") to make a technical change in order to remove a reference to the Government of Sudan tha...
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Rule | Jun 13, 2005 |
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The Office of Foreign Assets Control ("OFAC") of the U.S. Department of the Treasury is amending the Iraqi Sanctions Regulations, in light of the President's termination of the national emergency declared in Executive Order 12722. OFAC is also issuin...
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Rule | Jul 30, 2004 |
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The Office of Foreign Assets Control ("OFAC") of the Department of the Treasury is amending the Iraqi Sanctions Regulations to incorporate a general license authorizing U.S. financial institutions to transfer certain claims against the Government of...
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Rule | Nov 24, 2003 |
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The Treasury Department's Office of Foreign Assets Control ("OFAC") is issuing a final rule to amend the Reporting, Procedures and Penalties Regulations, Iraqi Sanctions Regulations, Foreign Terrorist Organizations Sanctions Regulations, and Foreign...
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Rule | Oct 28, 2003 |
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The Office of Foreign Assets Control ("OFAC") of the Department of the Treasury is amending the Iraqi Sanctions Regulations to remove provisions that preceded the substantial lifting of economic sanctions in late May 2003. OFAC also is publishing int...
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Rule | Oct 28, 2003 |
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The Office of Foreign Assets Control ("OFAC") of the U.S. Department of the Treasury is amending the Iraqi Sanctions Regulations, 31 CFR part 575, to include a general license authorizing certain new transactions. The general license reflects United...
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Rule | Jun 27, 2003 |