TO ALL MEMBERS, FIRMS AND COMPLIANCE OFFICERS OF THE INSTITUTE
ICPAC wishes to notify its Members of Red Flags on Export Controls Evasion jointly issued by the Treasury’s Financial Crimes Enforcement Network (FinCEN) and the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) and Guidelines on Humanitarian Assistance and Food Security jointly issued U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and His Majesty’s Treasury’s Office of Financial Sanctions Implementation (OFSI).
The documents, among other information, provide a very useful list of red flags to assist in identifying potential sanctions evasion activity.
To access the circular, please follow the link.