The USA PATRIOT Act is an Act of Congress signed into law on October 26, 2001. With its ten-letter abbreviation (USA PATRIOT) expanded; the Act’s full title is “Uniting and Strengthening America by Providing Appropriate Tools Required to intercept and Obstruct Terrorism Act of 2001”.
The Act improves our Counter-Terrorism efforts in several significant ways:
United Corporate Services can perform Patriot Act searches also known as an OFAC searches on your behalf. OFAC publishes a list of individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries. It also lists individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific. Collectively, such individuals and companies are called “Specially Designated Nationals” or “SDNs.” Their assets are blocked and U.S. persons are generally prohibited from dealing with them.
United Corporate Services reviews the following lists maintained by the Office of Foreign Assets Control and the U.S. Department of the Treasury:
Once we have completed the search, we will provide you with a detailed report of our findings.
When you are ready to conduct a Patriot Act search contact us at firstname.lastname@example.org or speak with your CSR for more information.
OFAC publishes lists of individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries. It also lists individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific. OFAC updates its website on a regular basis.
When the OFAC service is requested and a consumer’s name matches an entry on the Specially Designated Nationals (SDN) list, an OFAC Name Screen alert is returned. The user is advised to perform due diligence and verify whether the consumer is the individual on the U.S. Treasury’s list.
All U.S. persons must comply with OFAC regulations, including all U.S. citizens and permanent resident aliens regardless of where they are located, all persons and entities within the United States, all U.S incorporated entities and their foreign branches.
Collectively, such individuals and companies are called “Foreign Sanctions Evaders” or “FSEs.” Transactions by U.S. persons or within the United States involving FSEs are prohibited. The FSE List is not part of the Specially Designated Nationals (SDN)
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