OFAC Blocked Wire Transfer: How to Recover Your Funds Through a Specific License
An OFAC blocked wire transfer puts both the sender and the recipient in a difficult legal position. The block itself is not final, U.S. sanctions law provides a mechanism for releasing funds: the OFAC specific license. Obtaining one, however, requires a carefully constructed legal position, and the quality of that position often determines the outcome.
This article walks through the process...
OFAC License Delay: How to Speed Up the Process
Obtaining a license from the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is one of the primary tools for authorizing transactions that would otherwise be prohibited under U.S. sanctions law. OFAC licenses may be required to unblock frozen assets, complete contracts, pay legal fees, sell property, or carry out other transactions involving sanctioned persons or...