US Vice President Mike Pence has announced that seventy-seven Venezuelan Politically Exposed Persons (PEPs), who are government officials and their families, will be losing their US visas forthwith. The issue is whether OFAC will also act against them.
If you are Am American banker, any of whose affluent Venezuelan clients who have urgently requested that their accounts be closed, and the funds all wired out of the country, you may have undisclosed PEPa on your hands. If there are OFAC sanctions imposed, all funds must be frozen, hence the urgency on behalf of your clients.
The names of the 77 have not been made public, and the US State Department rarely releases that information, nor does it surface elsewhere on an official basis. Some media at times have obtained some of that information, but it is suggested that you check your large Venezuelan client accounts for any strange activity.
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