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Foreign Assets Control Act

BSA/AML, OFAC and Fraud
April 12, 2004
TO: CHIEF EXECUTIVE OFFICER (also of interest to BSA Officer)
SUBJECT: General License Issued Under Libyan Sanctions Regulations
Summary: The Department of the Treasury's Office of Foreign Assets Control has amended a general license under the Libyan sanctions regulations.

On April 2, 2004, the Department of the Treasury's Office of Foreign Assets Control (OFAC) amended a general license issued on February 25, 2004, regarding Libyan sanction regulations, which addresses travel and residence transactions for persons traveling to, from and within Libya. The amended license was issued to clarify transactions that are not allowed. A copy of the amended general license is attached.

Additional information concerning OFAC-related issues 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 or control regulations, please call OFAC's Compliance Programs Division at 1-800-540-6322.

For your reference, FDIC Financial Institution Letters may be accessed from the FDIC's Web site at www.fdic.gov/news/financial-institution-letters/2004/index.html . 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
Division of Supervision and Consumer Protection

# # #

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 (1-877-275-3342 or (703) 562-2200).

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Last Updated: April 12, 2004