URGENT
[14414]
January 31, 2002
TO: COMPLIANCE ADVISORY COMMITTEE No. 8-02
INTERNATIONAL COMMITTEE No. 10-02
INTERNATIONAL OPERATIONS ADVISORY COMMITTEE No. 4-02
MONEY LAUNDERING RULES WORKING GROUP No. 6-02
PRIMARY CONTACTS - MEMBER COMPLEX No. 6-02
TRANSFER AGENT ADVISORY COMMITTEE No. 8-02
RE: OFAC ADDS 12 ENTITIES AND 15 INDIVIDUALS TO ITS LIST OF NARCOTICS
KINGPINS
The Office of Foreign Assets Control (OFAC) has added the names of twelve entities and
fifteen individuals to its list of narcotics kingpins (SDNTKs).1 Their assets must be blocked
immediately.2
The OFAC brochure summarizing its narcotics sanctions has been revised and
republished to reflect these additions, and is available on the OFAC web site,
www.treas.gov/ofac (click on “narcotics”).
If you have questions about OFAC compliance please contact Frances Stadler (phone
202-326-5822; e-mail frances@ici.org) or me (phone 202-371-5430; e-mail rcg@ici.org), or contact
OFAC Compliance directly at 800-540-6322.
Robert C. Grohowski
Associate Counsel
1 Significant foreign narcotics traffickers and foreign persons designated by the Secretary of the Treasury are referred
to collectively as Specially Designated Narcotics Traffickers. Foreign persons designated under the Foreign Narcotics
Kingpin Designation Act (21 U.S.C. 1901-1908, 8 U.S.C 1182) are referred to as “SDNTKs” on OFAC’s listing of
“Specially Designated Nationals and Blocked Persons” to differentiate them from the Specially Designated Narcotics
Traffickers (SDNTs) named under Executive Order 12978, dated October 21, 1995.
2 OFAC regulations require US persons, including investment companies, to block all accounts and assets of persons
or entities named by OFAC. For an overview of OFAC regulations and a description of the various measures that
mutual fund organizations may wish to consider adopting to ensure compliance with those regulations, refer to the
Institute’s paper entitled “Foreign Assets Control Compliance for Mutual Funds.” This paper is available on the
Institute’s members’ website at http://members.ici.org. The members’ website is password-protected; staff at
Institute member firms may request access codes by filling out the enrollment form on the website.