BLACK LIST / CLINTON LIST

The OFAC list, called by many, "blacklisted", or Clinton list is issued on the basis of laws approved by the U.S. Congress. Among the most important are: Law on international Economic Emergency Faculties (IEEPA), laws against terrorists and drug traffickers; The Kingpin Act, Usa Patriot Act, Law on the Control of the laundering of Assets, Bank Secrecy Act, Trade Sanctions Reform Act, and export strengthening of 2,000 and others.

The list is issued by the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury and was created in October 1995, by Executive Order 12978, issued by President Bill Clinton as part of A series of measures in the war on drugs and the laundering of assets.

Persons who hire or provide assistance, or financial services or any type of collaboration with those on the OFAC lists, are at the same risk of being treated as drug traffickers, international criminals or terrorists.

The OFAC, (Office for the Control of foreign assets), belongs to the U.S. Treasury Department dedicated to administering and executing economic and commercial sanctions against foreign governments, terrorists, drug traffickers and persons linked to the Proliferation of weapons of mass destruction. It is attached to the Treasury Department, which administers a series of laws imposing economic sanctions against hostile organizations or individuals, in order to realize the objectives of the American foreign policy, rooted since the principles of The Republic for the years 1812, expressed through commercial embargoes such as those still applied through the OFAC.

LIST OFAC

Entering the OFAC list means that individuals and companies are exposed to sanctions imposed as established by the Department of the Treasury of the United States of America, which means the freezing of bank accounts, goods and Ban on U.S. citizens from conducting commercial and financial transactions with defendants. The United States special program against drug trafficking in Latin America has already included more than 10,500 individuals and companies in this list.

THE LAW IS THE SAME FOR ALL

The laws of the United States of America apply equally to entities or persons who provide services or assist to those who are included in the sanctions lists administered by OFAC. These penalties are criminal and administrative in nature. The important thing is that the State Department also supports important federal laws and global organizations that fight organized crime.

For this reason, the inclusion of drug trafficking groups and other criminal organizations in the SDNT lists (Significant designated Narcotics Traffickers-SDNT list), SFNT and KingPin Act, of the OFAC or the terrorist groups included in the SDT list, could give Foot for the application of trade sanctions to countries that support them or do not cooperate with the confiscation of their assets.

BLOCKING AND CONFISCATION OF GOODS

It is important to note that goods of any kind possessed or controlled by a SFNT (Foreign drug Kingpin Designation Act), SDT (list of designated terrorists) or SDNT (list of specially designated drug traffickers), list of Specially Designated global terrorists (SDGT) may be subject to blockade and further confiscation.

In the same way if a person, who in the Treasury Department's judgement, assists materially or provides financial or technological support, goods or services in support of the criminal activity related to narcotics or terrorism advanced by a SFNT, SDNT or SDT; Or companies owned or controlled by any of them, may also be subject to blockade and confiscation .

PENALIZATION
It is important to note that goods of any kind possessed or controlled by a SFNT (Foreign drug Kingpin Designation Act), SDT (list of designated terrorists) or SDNT (list of specially designated drug traffickers), list of Specially Designated global terrorists (SDGT) may be subject to blockade and further confiscation.

PENALIZATION FOR FINANCIAL INSTITUTIONS

Officers, directors and agents of financial institutions involved in the violation of this law may receive prison sentences for up to 30 years and fines up to US $5 million. It is good to clarify that there is a possibility that people on the OFAC lists are unable to establish current accounts or savings in US financial institutions. Or make any other kind of financial investment, pretend to invest your money in a Latin American financial institution.

In order to avoid that those included in the lists of the OFAC use the services of the Latin American financial institutions, they must adopt controls, through a systematized program in which the people included in the lists of the OFAC appear. This program must be updated every time the OFAC makes modifications or updates to the aforementioned lists.

This is stated that it is unforgivable for anyone to say that he did not know about the existence of the OFAC list, such functions and provisions are published everywhere, and his ignorance will not prevent him from complying with what is determined in the laws North American and other countries of the world.

In compliance with state law, GLOBAL GOLD trader of FLORIDA INC. As lender of financial services must make a certified consultation, on the applicants of our services, with the purpose of certifying that each one of our clients enjoys the tranquility of not being included or related to activities Illicit.


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