On Wednesday, November 20, 2024, we will have a seminar at New York Japan Chamber of Commerce. Attendance via online is possible.
The U.S. Department of the Treasury has established OFAC as the federal agency that administers and enforces economic and trade sanctions against targeted foreign countries, terrorists, and international criminals. Entities doing business in the U.S. must comply with OFAC requirements or face the possibility of placement on a sanctions list that will prohibit the entity from doing business in the U.S. or with financial institutions. The U.S. has recently enacted the CTA, which required certain entities doing business in the U.S. to report and disclose information about its beneficial owners and sets forth penalties for failure to do so.