“Totally comfortable system, reliable.”
OPERATIONS MANAGER, TRANSPORTATION INDUSTRY, NEW JERSEY
Iran Sanctions and Embargoes Compliance
Since 1979, the United States government has imposed and enforced sanctions on Iran, including the recent Countering America’s Adversaries Through Sanctions Act (CAATSA). It is therefore vital that your business be familiar with the details of the sanctions and embargoes imposed on Iran by the U.S. government, including the Department of Treasury Office of Foreign Assets Control (OFAC) and the Bureau of Industry and Security (BIS). This includes the requirement to screen against restricted and denied party lists, the List of Specially Designated Nationals and Blocked Persons (SDN), the Foreign Sanctions Evaders List (FSE), and the Non-SDN Iran Sanctions Act List (NS-ISA), among others.
eCustoms has screening and trade compliance solutions to help you be compliant, including denied party screening, export classification, license determination, and more. These sanctions have been put in place because of Iran’s alleged support for terrorism, human rights abuses, and proliferation of weapons of mass destruction (WMD). Under these circumstances, companies and organizations are barred from engaging in financial transactions and business dealings with Iran’s government, and affiliated entities.
Companies and individuals in breach of Iran sanctions are considered to be aiding a foreign entity hostile to the United States and its allies, and are liable to major penalties including criminal prosecution. As such, it’s in any organization’s best interest to ensure they have measures in place to prevent a transaction from occurring.
For more information about our OFAC-specific software, call toll-free 1-877-328-7866 (Intl: 716-881-2590) and talk to one of our sanctions compliance consultants, or send an email. You can also visit our dedicated Visual OFAC site.