FROM A
DIFFERENT ANGLE by Kenneth Rijock
Financial Crime Consultant, for World-Check
Watch OFAC Burma financial licensees carefully
7 May 2008

The Office of Foreign Assets Control (OFAC) has issued a General License for Burma (Myanmar) for "Certain Financial Transactions in support of Humanitarian or Religious Activities by Non-governmental Organisations in Burma." Obviously, it was promulgated in light of the situation that exists in that country as a result of damage and loss of life caused by the recent cyclone. Whilst the license specifically excludes funds to or for blocked persons or entities, and government-owned or controlled entities, you are urged to carefully screen all transactions for opportunistic money laundering. See below for the Internet address of the OFAC Licence.

General License No. 14; Burmese Sanctions Regulations

http://www.ustreas.gov/offices/enforcement/ofac/programs/burma/gls/burmagl14.pdf
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For further reading: Watch Myanmar disaster charities carefully, World-Check 5 May, 2008.

The facts and opinions stated in this article are those of the author and not those of World-Check. World-Check does not warrant the accuracy of any facts and opinions stated in this article, does not endorse them, and accepts no responsibility for them.

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