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SPECIAL ALERT FOREIGN ASSETS CONTROL ACT

BSA/AML, OFAC and Fraud
October 22, 2001


TO: CHIEF EXECUTIVE OFFICER
SUBJECT: Update to Executive Order Targeting Terrorist Assets

On September 24, 2001, President George W. Bush issued an Executive Order targeting terrorists. As a result, a number of new names were added to the Department of the Treasury's Office of Foreign Assets Control (OFAC) Specially Designated Nationals and Blocked Persons list. On October 1, 2001, OFAC disseminated descriptor information on the names included in the annex to the Executive Order to assist financial institutions in the identification of assets subject to the Order. A copy of the descriptor information is attached for your information. The information also is available at https://home.treasury.gov/policy-issues/office-of-foreign-assets-control-sanctions-programs-and-information/bulletin.txt .

Also attached for your convenience is a copy of the changes to the list of Specially Designated Nationals and Blocked Persons since January 1, 2001. The latest update may be found on pages 19 through 22. OFAC has asked that we distribute the information to all FDIC-supervised institutions so records can be checked for accounts that are required by the Order to be blocked. Banks are instructed to call OFAC's hotline at 1-800-540-6322 if there are any "hits" or questions. General OFAC information also may be found on the Internet at https://home.treasury.gov/policy-issues/office-of-foreign-assets-control-sanctions-programs-and-information . Financial institutions should be alert to the likelihood that OFAC's lists will frequently change as the investigation of terrorist activities continues, and should periodically visit OFAC's Web site for up-to-date information.

Please immediately distribute this information to the appropriate personnel in your institution. For further information about Executive Orders, the list of blocked accounts or the procedures to block accounts, please call OFAC's Compliance Programs Division at 1-800-540-6322.

For your reference, all FDIC Financial Institution Letters published since January of 1995 may be found on the FDIC's Web site at www.fdic.gov under "Newsroom, Events & FOIA." To learn how to automatically receive FDIC Financial Institution Letters through e-mail, please visit http://www.fdic.gov/news/news/announcements/index.html .

Michael J. Zamorski
Acting Director

Attachments:

A Bulletin from the Office of Foreign Assets Control

Changes to List of Specially Designated Nationals and Blocked Persons
(PDF 425 KB File - PDF Help or Hard Copy )

Distribution: FDIC-Supervised Banks (Commercial and Savings)

NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (800-276-6003 or (703) 562-2200).


Last Updated: October 22, 2001