[Ws2-jurisdiction] OFAC: Background Reading -- a few FAQs and Overviews

[Seun Ojedeji]

Dear all,

Just one question I like to add is:

Can ICANN operation be impacted by OFAC? If Yes, how?

I will also appreciate if ways to address the impact(if any) can be stated
as well.

Regards
PS: Okay maybe that was 1.5 questions ;-)
Sent from my mobile
Kindly excuse brevity and typos

On Jul 31, 2017 3:58 PM, "Paul Rosenzweig" <
paul.rosenzweig at redbranchconsulting.com> wrote:

> My question to Sam would be simple:
>
> Since its inception, has ICANN's operation been impacted by OFAC?  If so,
> how?
>
> Since its inception, is ICANN aware of OFAC impacting the operation of any
> of the related DNS organizations -- registrars, registries, etc.?  If so,
> how?
>
> Does ICANN Legal have an opinion on whether the IANA transition to the new
> structures will change how OFAC has (or has not) impacted its operation or
> those of the related DNS organizations?  If so, what is that opinion?
>
> Thanks
> Paul
>
>
> Paul Rosenzweig
> paul.rosenzweig at redbranchconsulting.com
> O: +1 (202) 547-0660
> M: +1 (202) 329-9650
> VOIP: +1 (202) 738-1739
> www.redbranchconsulting.com
> My PGP Key:
> https://keys.mailvelope.com/pks/lookup?op=get&search=0x9A830097CA066684
>
> -----Original Message-----
> From: ws2-jurisdiction-bounces at icann.org
> [mailto:ws2-jurisdiction-bounces at icann.org] On Behalf Of Nigel Roberts
> Sent: Monday, July 31, 2017 3:19 AM
> To: ws2-jurisdiction at icann.org
> Subject: Re: [Ws2-jurisdiction] OFAC: Background Reading -- a few FAQs and
> Overviews
>
> OFAC applies, it seems, to ALL countries, not a few
>
> See answer 10 at
> https://www.treasury.gov/resource-center/faqs/
> Sanctions/Pages/faq_general.as
> px#licenses
>
>
> The real key as to whether ICANN and/or PTI is seriously affected by OFAC
> depends not so much on the countries to which OFAC applies (to which, for
> the reasons above the answer is "ALL"), but to the true construction of the
> expression "prohibited transaction".
>
> OFAC's own website gives a fairly general and broad definition: " trade or
> financial transactions and other dealings in which U.S. persons may not
> engage unless authorized by OFAC or expressly exempted by statute."
>
> But what matters is the detail of the statute and the regulations issued
> under it.
>
>
> Nonetheless, if ICANN, or PTI does not engage in prohibited transactions
> for which a license would be required, then the effect of the OFAC
> system is going to be negligible, or insignificant.
>
> (Unfortunately, risk aversion, an over-abundance of caution, and a
> 'box-ticking' approach might result in an inappropriately
> disproportionate approach to compliance "just to make sure").
>
> Which is a risk in itself.
>
>
>
> On 31/07/17 07:53, Arasteh wrote:
> > Greg
> > Tks for the info which are available on GOOGLE but nor quickly as you
> > gathered.
> > Appreciation for that
> > I request you to kindly collect the names of countries to which OFAC
> > applies by ICANN
> > Kavouss
> >
> > Sent from my iPhone
> >
> > On 31 Jul 2017, at 08:40, Greg Shatan <gregshatanipc at gmail.com
> > <mailto:gregshatanipc at gmail.com>> wrote:
> >
> >> All,
> >>
> >> I thought it might be helpful to provide some background information
> >> on OFAC  in advance of Tuesday's meeting.  These are intended to
> >> provide overall information on OFAC, not analysis of the relationshipO
> >> between OFAC compliance and ICANN.  If there are other helpful general
> >> resources, please reply to this email.
> >>
> >> OFAC FAQ, General Questions:
> >>
> https://www.treasury.gov/resource-center/faqs/
> Sanctions/Pages/faq_general.as
> px#basic
> >>
> >> A basic overview of OFAC compliance for US-based businesses (a little
> >> old (2011), but still helpful):
> >>
> https://www.law360.com/articles/262952/4-steps-
> toward-ofac-sanctions-complia
> nce
> >> (Also attached as PDF in case the link can't be accessed)
> >>
> >> Good overview, though oriented toward banks and financial
> >> institutions, from FFIEC (Federal Financial Institutions Examination
> >> Council, a US inter-agency body empowered to prescribe uniform
> >> principles, standards, and report forms for the federal examination of
> >> financial institutions):
> >> https://www.ffiec.gov/bsa_aml_infobase/pages_manual/olm_037.htm
> >>
> >> Wikipedia
> >> https://en.wikipedia.org/wiki/Office_of_Foreign_Assets_Control
> >>
> >> IEEE and OFAC:
> >>
> https://www.ieee.org/about/corporate/compliance/legal/
> ofac/DF_IEEE_MIG_NAV_9
> 4987
> >>
> >>
> >>
> >>
> >> Greg
> >> <4 Steps Toward OFAC Sanctions Compliance.docx>
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> >
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