Recent Developments in Economic Sanctions: Libya, Syria, Transnational Organized Crime, and CISADA. Timothy P. Leary Senior Special AML Examiner Board of Governors of the Federal Reserve System Washington, DC. Libya-related Sanctions. Executive Order 13566 published February 25, 2011.
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Timothy P. Leary
Senior Special AML Examiner
Board of Governors of the Federal Reserve System
“This Strategy is organized around a single, unifying principle: to build, balance, and integrate the tools of American power to combat transactional organized crime and related threats to our national security – and to urge our partners to do the same . . .
While this Strategy is intended to assist the United States Government in combating transnational crime, it also serves as an invitation for enhanced international cooperation. We encourage our partners and allies to echo the commitment we have made here and join in building a new framework for international cooperation to protect all our citizens from the violence, harm, and exploitation wrought by transnational organized crime.”
—President Barack Obama (July 19, 2011)
“CISADA offers a clear choice: a foreign financial institution can have access to the largest and most important financial sector in the world – the United States – or it can do business with the IRGC or Iranian banks sanctioned for facilitating Iran’s illicit activity, but it cannot do both.”
—Under Secretary of the Treasury David S. Cohen (October 13, 2011)