Office of Foreign Assets Control
If you have become involved with the Office of Foreign Assets Control, you may be included on the SDN List Specially Designated Nationals - a list that was developed by Clinton Administration in 1996 which identifies all known terrorists and significant drug traffickers. Florida Attorney Joseph S. Rosenbaum has represented clients facing actions from the Office of Foreign Assets Control and can protect your personal and financial interests against government prosecution.
The Office of Foreign Assets Control ("OFAC") operates under the US Department of Treasury which enforces economic and trade sanctions based on US foreign policy and national security goals against targeted foreign countries, terrorists, international narcotics traffickers, and those engaged in activities related to the proliferation of weapons of mass destruction.
Under presidential wartime and national emergency powers, as well as authority granted by specific legislation, the OFAC freezes foreign assets under US jurisdiction. OFAC actions are complex as they are based on United Nations sanctions and other international mandates, are multilateral in scope, and involve close cooperation with allied governments. Attorney Joseph S. Rosenbaum is experienced with OFAC actions and has the knowledge to handle the challenging demands of international proceedings.
What is the Office of Foreign Assets Control?
OFAC is the successor to the Office of Foreign Funds Control (the "FFC"), which was established at the beginning of World War II. The FFC program was administered by the Secretary of the Treasury throughout the war. The FFC's initial purpose was to prevent Nazi use of the occupied countries' holdings of foreign exchange and securities and to prevent forced repatriation of funds belonging to nationals of those countries. These controls were later extended to protect assets of other invaded countries. After the United States formally entered World War II, the FFC played a leading role in economic warfare against the Axis powers by blocking enemy assets and prohibiting foreign trade and financial transactions.
OFAC itself was formally created in December 1950, following the entry of China into the Korean War, when President Truman declared a national emergency and blocked Chinese and North Korean assets subject to U.S. jurisdiction.
What can I do to protect my assets from OFAC action?
If you are under investigation by the OFAC or have been identified on the SDN list, it is essential that you speak with Attorney Joseph S. Rosenbaum to receive an expert opinion analyzing your legal situation and determining the best course of action necessary to keep your financial future intact. For more information about your OFAC case, contact Attorney Rosenbaum at 305-446-6099.
