This week, the countries involved finalised their plans to create a bank based upon their summit, known as the Bolivarian Alternative for the Nations of Our America, better known by its Spanish-language acronym, ALBA. This multinational NGO, spearheaded by Venezuelan President Hugo Chavez Frias, has asked its members, Cuba, Bolivia, Nicaragua, Venezuela and Dominica, to withdraw their international reserve funds from US banks, and deposit them with Banco del ALBA (ALBA Bank), so that an alternative international funding source can operate within Latin America. The problem is, one of the members is OFAC blacklisted by the US Treasury Department. How can you deal with ALBA and avoid an OFAC designation yourself?

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