|Subject:||Blocking Accounts w/Nacotics Traffickers|
|Date of Memorandum:||07/23/1998|
|Expiration Date:|| |
|Signed By:||Smith, Roland|
|FCA Contact Person:||Holland, Tom|
|List of Attachments:||Updated Listing|
July 23, 1998
To: The Chief Executive Officer
All Farm Credit System Institutions
From: Roland E. Smith, Director /s/
Office of Examination
Subject: Blocking of Accounts with Narcotics Traffickers – Updated Listing
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has amended its list of Specially Designated Narcotics Traffickers. OFAC has added six individuals and 21 companies to its list. A copy of the updated listing is attached.
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,” which was signed by President Clinton on October 21, 1995. Additional information on blocked assets was distributed by FCA with memorandums dated September 7, 1995, (421-OE), and May 20, 1997. If your institution has accounts or does business with any individual or entity on the attached list, you must block the accounts immediately and cease any business involvement with them. If you have questions about the listing, you should call OFAC at 1-800-540-6322 or 202-622-2490. Additionally, information concerning OFAC rules, lists of prohibited entities, and general information concerning OFAC may be found on the Internet at:
FCA is providing this information as a courtesy to keep you informed of developments that may impact your institution. However, these mailings should not be seen as a replacement for, but as a complement to, due diligence in monitoring issues that may affect your institution. If you have any questions about this, please call Thomas J. Holland, Director, Special Examination and Supervision Division, Office of Examination, at (703) 883-4483, or on the Internet at e-mail address firstname.lastname@example.org.