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Word o’ the day: rule of construction
From thefreedictionary.com: The process by which the meaning of an ambiguous provision of a statute, written document, or oral agreement is determined. Here's example from the part of the NDAA 2013...
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OFAC’s IFCA/E.O. 13645 FAQ: Basic Terminology
The Question (No. 289): How will the following IFCA terms be interpreted: “Iran,” “knowingly,” “significant,” “transfer,” “Iranian person included on the SDN List ”? The Answer: As a general matter, we...
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Word O’ the Day: Bunkering
While going through OFAC”s IFCA FAQ, Mr. Watchlist came across a question about bunkering payments for ships. So… what is bunkering? It's the act or process of supplying a ship with fuel., according...
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Word of the Day: FBAR
The FBAR, aka FinCEN Form 114, is the Report of Foreign Bank and Financial Accounts. It is filed by a person if the sum of the their foreign asset accounts exceeds $10,000 at any time during a...
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Word of the Day: Geographic Targeting Order
A Geographic Targeting Order allows FinCEN's director to impose additional recordkeeping and reporting requirements in a limited specific area. The Order can be imposed on any number of businesses,...
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Word of the Day: Funnel Account
From FINCEN's advisory on US Currency Restrictions in Mexico: Funnel Account: An individual or business account in one geographic area that receives multiple cash deposits, often in amounts below the...
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Word o’ the day: rule of construction
From thefreedictionary.com: The process by which the meaning of an ambiguous provision of a statute, written document, or oral agreement is determined. Here's example from the part of the NDAA 2013...
View ArticleClik here to view.
OFAC’s IFCA/E.O. 13645 FAQ: Basic Terminology
The Question (No. 289): How will the following IFCA terms be interpreted: “Iran,” “knowingly,” “significant,” “transfer,” “Iranian person included on the SDN List ”? The Answer: As a general matter, we...
View ArticleClik here to view.
Word O’ the Day: Bunkering
While going through OFAC”s IFCA FAQ, Mr. Watchlist came across a question about bunkering payments for ships. So… what is bunkering? It's the act or process of supplying a ship with fuel., according...
View Article