Freezing bank accounts and tracing assets
Pundits and policymakers alike increasingly push the narrative that America’s influence is waning and that it lacks the leadership to get anything done internationally. Despite the rhetoric plastered across editorial columns, a quiet, but ruthlessly effective effort is targeting and punishing international criminal actors and regimes on America’s newest front lines: the international financial system.
The little-known Office of Foreign Assets Control, or OFAC – housed within the Department of the Treasury’s Office of Terrorism and Financial Intelligence – has grown from a policy afterthought to one of the most valuable tools in America’s national security toolbox in under a decade. Under presidents Bush and Obama, OFAC’s ability to trace assets, freeze bank accounts, and disrupt financial transactions has advanced U.S. interests in situations where we otherwise have limited leverage.
Read more here.
This article was originally published in The Hill.
To speak with our experts on this topic, please contact:
Print: Liz Bartolomeo (poverty, health care)
202.481.8151 or email@example.com
Print: Tom Caiazza (foreign policy, energy and environment, LGBT issues, gun-violence prevention)
202.481.7141 or firstname.lastname@example.org
Print: Allison Preiss (economy, education)
202.478.6331 or email@example.com
Print: Tanya Arditi (immigration, Progress 2050, race issues, demographics, criminal justice, Legal Progress)
202.741.6258 or firstname.lastname@example.org
Print: Chelsea Kiene (women's issues, TalkPoverty.org, faith)
202.478.5328 or email@example.com
Spanish-language and ethnic media: Rafael Medina
202.478.5313 or firstname.lastname@example.org
TV: Rachel Rosen
202.483.2675 or email@example.com
Radio: Sally Tucker
202.481.8103 or firstname.lastname@example.org