OFAC Makes Extensive Changes to Burma SDN List

The Treasury Department's Office of Foreign Assets Control made a lengthy update of the Specially Designated Nationals Burma Designations under the Iran Freedom and Counter Proliferation Act, effective July 2. The update is to assist foreign financial institutions in identifying which persons on the OFAC Specially Designated Nationals and Blocked Persons (SDN) list fall into the category of persons with whom a FFI may face exposure to sanctions on their U.S. correspondent or payable-through accounts. The phrase "Additional Sanctions Information -- Subject to Secondary Sanctions" will be applied to appropriate SDN listings. A list of SDNs affected by this update is in the July 2, 2013 section in OFAC’s SDN Changes file, which runs from page 35 to 170 of the file (here).