What are the three categories of sanctions programs?

What are the three categories of sanctions programs?

Sanctions fall into a number of categories.

• Economic sanctions. Economic sanctions are commercial and financial penalties that typically ban customary trade and financial relations.
• Diplomatic sanctions.
• Military sanctions.
• Sport sanctions.
• Sanctions on individuals.
• Sanctions on environment.
• UNSC Sanctions and OFAC.

What is a government sanction list?

Governments and international authorities publish sanctions lists to combat persons engaged in illegal activities. Sanction lists include sanctioned people, organizations, or governments. Firms control individuals, organizations, or governments on these lists as they may pose a high risk.

What are OFAC lists?

OFAC Sanctions Lists OFAC publishes lists of individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries. It also lists individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific.

What are examples of targeted sanctions?

Financial sanctions (freezing of funds and other financial assets, ban on transactions, investment restrictions) Trade restrictions on particular goods (e.g. arms, diamonds, oil, lumber) or services. Travel restrictions.

What is a sanctions list search?

To aid users of the tool, Sanctions List Search contains a feature entitled “Minimum Name Score” that functions on a sliding scale, allowing for a user to set a threshold (i.e., a fuzziness rating) for the closeness of any potential match returned as a result of a user’s search.

What are sanction lists?

What is a sanctions list? Financial authorities and governments use sanction lists globally to prevent businesses from working with anyone involved in various criminal financing or terrorist activities.

What are types of sanctions?

Types

• Reasons for sanctioning. Sanctions formulations are designed into three categories.
• Diplomatic sanctions.
• Economic sanctions.
• Military sanctions.
• Sport sanctions.
• Sanctions on individuals.
• Sanctions on the environment.
• Support for use.

What is sanctionsanctions list search?

Sanctions List Search is a free tool provided by OFAC to assist the public in complying with sanctions programs. It is intended to be used by individual users that are looking for potential matches on OFAC’s sanctions lists.

Where can I find a copy of the Sanctions Act?

Announcements of such sanctions determinations are printed in the Federal Register and can be accessed through the Government Printing Office web page. Copies of relevant statutes can also be accessed via the same site as well as via the Library of Congress’ Congressional Service .

What is the Iran Sanctions Act of 2003?

The act authorizes the President of the United States to take punitive action against individuals or organizations known to be providing material aid to weapons of mass destruction programs in Iran. (50 U.S.C. 1701 note)

Where can I find a list of nonproliferation sanctions determinations?

Links to those notices found on this page are updated as appropriate, but the Federal Register is the only official and complete listing of nonproliferation sanctions determinations.