Agency Provides New Information Concerning Terrorist Financial Connections

Washington, DC, October 3, 2001 - Last week, President Bush signed an executive order freezing the assets of 27 known or suspected terrorists or terrorist organizations. Subsequently, the Office of Foreign Assets Control (OFAC) issued a bulletin with more descriptive information on the individuals and entities whose assets were frozen by that executive order. This information is considered critical in determining the disposition of interdicted items and accounts.

OFAC regulations require U.S. persons, including investment companies, to block all accounts and assets of Specially Designated Nationals (SDNs). Effective 12:01 a.m. September 24, 2001, any transaction or dealing in property or interests in property in the United States with any of these persons or entities is prohibited.

The OFAC website includes two SDN lists: one main list and one updated list with additional SDNs added since January 1.