| August 30, 1996
|Circular No. 10869|
Transactions with Syria and Sudan
To the Chief Operating Officers of All Financial Institutions and
Following is a bulletin that the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury sent on August 21 by Fedwire, regarding the handling of transactions with the Governments of Syria and Sudan:
"FOR IMMEDIATE ATTENTION - BULLENTIN 96110 FROM OFFICE OF FOREIGN ASSETS CONTROL"
RE: ANTITERRORISM ACT 12:01 A.M. EDT 08-22-96. EXISTING OF AC PROGRAMS STAY IN PLACE. RE: GOVTS OF SYRIA & SUDAN. U.S. PERSONS PROHIBITED FROM RECEIVING UNLICENSED DONATIONS OR ENGAGING IN FINANCIAL TRANSACTIONS IN WHICH U.S. PERSON KNOWS OR HAS REASONABLE CAUSE TO BELIEVE THERE IS RISK OF FURTHERING REJECT TRANSFERS TO U.S. PERSONS IN FORM OF GIFTS OR CHARITABLE CONTRIBUTIONS FROM GOVT OF SYRIA, SUDAN, OR ENTITIES OWNED OR CONTROLLED BY THEM, UNLESS BANK KNOWS OR HAS REASONABLE CAUSE TO BELIEVE THERE IS RISK OF FURTHERING TERRORISM IN U.S. IN WHICH CASE FUNDS MUST BE RETAINED BY BANK. REPORT REJECT ITEMS TO OFAC WITHIN 10 DAYS. TRANSFERS NOT ORIGINATED BY GOVTS OF SYRIA OR SUDAN, AND NOT FOR ACTUAL ACCOUNT OF, BUT MERELY SENT THROUGH. GOVT-CONTROLLED BANK, ARE NOT PROHIBITED. ADDITIONAL INFO FED REGISTER, OFAC'S INTERNET HOME PAGE, FAX-ON-DEMAND (202/662-0077), USUAL COMUTER BULLETIN BOARDS, OR CALL 800/540-6322.
Questions regarding this matter should be directed to OFAC, as specified above.
William J. McDonough