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#1756 - 04/05/04 06:12 PM Re: Must I verify OFAC
Tisa Offline
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Registered: 06/30/03
Posts: 938
Loc: Do you know the way to ...
Quote:

Don't forget, OFAC has been around since the War of 1812. It is the oldest regulation on the books as far as those that affect banking.



I thought it started after the Korean War..... ?
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#1757 - 04/05/04 06:19 PM Re: Must I verify OFAC
Ken_Pegasus Offline
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Registered: 08/30/01
Posts: 6815
Loc: Another trip around the sun
Bonnie's reference may not work literally, but the concept began with the "...Trading with the Enemies Act...," circa 1812.


Edited by Ken/Pegasus (04/05/04 06:20 PM)
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#1758 - 04/05/04 08:26 PM Re: Must I verify OFAC
Bonnie M Moderator Offline
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Registered: 06/01/01
Posts: 5117
Loc: Southern California
From OFAC's website FAQ's:

How long has OFAC been around?

The Treasury Department has a long history of dealing with sanctions. Prior to the War of 1812, Secretary of the Treasury Gallatin administered sanctions imposed against Great Britain for the harassment of American sailors.
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