OFAC Designates 271 After Syrian Attack

The April 4, 2017, chemical attack on innocent civilians in Syria was reprehensible and should not go ignored.  You may think there’s nothing you can do.  Oh, but there is!

On April 24, 2017, OFAC made one of its largest actions in history in response to this tragedy.  271 employees of Syria’s Scientific Studies and Research Center (SSRC) were designated for assisting, sponsoring, supporting, or acting for or on behalf of the Syrian government.  The SSRC is the Syrian government agency that is responsible for developing, producing and delivering non-conventional weapons

This is where you, as an individual and an institution are called to action.  Any property, or interest in property of the designated persons, that is in the possession or control of U.S. persons, or within the United States must be blocked.  In general, U.S. persons are prohibited from dealing with these designated individuals through your financial institution.

Take the responsibility seriously.  Sometimes banking regulations may seem like just another burden and another task, but we truly are in the best position to help combat such acts as these and to aid in the fight against terrorist financing and money laundering in general.

Published
2017/05/05
Deb Irving
David Dickinson

David Dickinson

David’s banking career began as a field examiner for the FDIC in 1990. He later became a Compliance Officer and Loan Officer for a small bank. In 1993, he established Banker’s Compliance Consulting. Along with his amazingly talented Team, he has written numerous compliance articles for prestigious banking publications and has developed compliance seminars that Banker’s Compliance Consulting produces.

He is an expert in compliance regulations. He is also a motivational speaker and innovative educator. His quick wit and sense of humor transforms the usually tiring topic of compliance into an enjoyable educational experience. David is on the faculty of the American Bankers Association National Compliance Schools and has served on the faculty of the Center for Financial Training for many years. He also is a frequent speaker at the ABA’s Regulatory Compliance Conference. He is also a trainer for hundreds of webinars, is a Certified Regulatory Compliance Manager (CRCM) and has been a BankersOnline Guru for many years. The American Bankers Association honored David with their Distinguished Service Award in 2016.

David and his wife Karen have three adult children, four grandchildren (none of whom live at home!) and two cats (of which Dave is allergic … the cats, not the children!). They recently moved to an acreage outside of Lincoln, Nebraska where he gets to play with his tractor. When possible David can be found fishing, making sawdust in his shop, or playing the guitar and piano. He also enjoys leading worship at his church.

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