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FOREIGN ASSETS CONTROL ACT

BSA/AML, OFAC and Fraud
February 27, 2002


TO: CHIEF EXECUTIVE OFFICER
SUBJECT: Specially Designated Nationals and Blocked Persons

On January 23, 2002, the Department of the Treasury's Office of Foreign Assets Control (OFAC) updated its list of authorized service providers under the Cuban Assets Control Regulations. A copy of the list is attached for your information. More information may be found at https://home.treasury.gov/policy-issues/office-of-foreign-assets-control-sanctions-programs-and-information .

On January 25, 2002, OFAC announced a change in Executive Order 13129, dated July 4, 1999, which blocked property and prohibited transactions with the Taliban. Under section 4(d) of the Order, the Secretary of State, in consultation with the Secretary of the Treasury, is authorized to modify the description of the term "territory of Afghanistan controlled by the Taliban." Effective January 24, 2002, the Secretary of State has officially determined that the Taliban controls no territory within Afghanistan and has modified the description of the term "territory of Afghanistan controlled by the Taliban" to reflect that the Taliban controls no territory within Afghanistan.

On January 31, 2002, OFAC amended its listing of Specially Designated Narcotics Traffickers by adding 12 entities and 15 individuals to the list. Their assets must be blocked immediately. The additions have been incorporated into the list of Specially Designated Nationals and Blocked Persons.

Attached is information from OFAC containing all changes to the list of Specially Designated Nationals and Blocked Persons since January 1, 2002. OFAC has asked that we distribute the information to all FDIC-supervised institutions so records can be checked for accounts that are required to be blocked. 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 .

Please 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
Director

Attachments: May be accessed from the OFAC Web site at https://home.treasury.gov/policy-issues/office-of-foreign-assets-control-sanctions-programs-and-information .

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: February 27, 2002