No need to close accounts of persons associated with sanctioned individual – OFAC

-in response to query from WIN’s legal team The Office of Foreign Assets Control (OFAC), the financial intelligence and enforcement agency of the United States Treasury Department, has ruled out the need for commercial banks here to close the accounts of persons who are merely associated with a sanctioned person, according to correspondence from OFAC shared by a We Invest in Nationhood (WIN) party source.