|Next Info Memo||List of Info Memos|
|Subject:||Blocking of Accounts Associated with Narcotics Traffickers|
|Date of Memorandum:||05/20/1997|
|Signed By:||Smith, Roland|
|FCA Contact Person:||Holland, Tom|
|List of Attachments:||Updated OFAC Listing|
To: The Chief Executive Officer
All Farm Credit System Institutions
From: Roland E. Smith, Director /s/
Office of Examination
Subject: Informational Memorandum--Blocking of Accounts Associated with Narcotics Traffickers - Updated Listing
The Department of Treasury's Office of Foreign Assets Control (OFAC) recently added 57 individuals and 21 businesses to its list of Specially Designated Narcotics Traffickers (SDNTs). OFAC also announced that one SDNT and three Specially Designated Nationals of Iraq have been removed from the OFAC's master list of Specially Designated Nationals and Blocked Persons. A copy of the updated listing is attached, and it includes the OFAC's listing of public information that is available electronically.
Through a bookletter dated June 7, 1996, (449-OE), the Farm Credit Administration (FCA) provided a list of individuals and entities then identified as narcotics traffickers and a copy of Executive Order 12978 entitled “Blocking Assets and Prohibiting Transactions with Significant Narcotics Traffickers,” (the Order) which was signed by President Clinton on October 21, 1995. Through the Order, the President declared a national emergency regarding narcotics trafficking centered in Colombia. The order blocks all property subject to U.S. jurisdiction in which there is any interest of four principal figures in the Cali drug cartel and a number of other entities and individuals.
Additional information regarding “blocked assets” was distributed by the FCA with a memorandum dated September 7, 1995, (421-OE). If you have questions about this or a previous document (specific questions about blocking assets should be referred to the OFAC), please call Jerry Erickson in the Office of Examination at (703) 883-4483.
If your institution has accounts or does business with any individual or entity on the enclosed list, you must block the accounts immediately and cease any business involvement with them. If you have questions about the listing, you should call the OFAC at 1-800-540-6322 or 202-622-2490.