algorithmic modeling for Rhino

Why are my bank funds frozen by OFAC

I tried to make a transfer last week and found out my accounts are blocked because of some OFAC list issues. I have no idea how I got there as I am just a regular businessman. This is ruining my company and I can't pay my employees. How can I get my name off the sanctions list? Is there a specific administrative process for regular people to clear their names?

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Permalink Reply by Karl Mozaik 2 hours ago

Getting on an OFAC list is a nightmare for any business. It usually happens because of some accidental link to a sanctioned entity or just a mistake in identity. You have to file a petition for delisting and it requires a lot of technical paperwork. We had a similar scare and found useful info at www.humanrights-lawyer.com about unblocking assets. They know how to handle the administrative side of these sanctions. It is mostly about proving that you don't pose a threat and that the listing was a mistake. Be prepared that it takes time. The US Treasury is not known for being fast. You should definitely hire a professional who speaks their language to speed things up.

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