R628-20-6. Prohibited Deposits

Latest version.

  (1) Use of FDIs in any country or territory described below is prohibited.

  (a) Countries subject to sanctions by the Office of Foreign Assets Control (OFAC); and

  (b) Countries and territories on the Financial Action Task Force's (FATF) list of high risk and non-cooperative jurisdictions.

  (2) Financial Crimes Enforcement Network (FinCEN) advisories must be reviewed by the higher education institution to ensure that potential anti-money laundering and counter-terrorist financing risks associated with any country are assessed, identified and avoided before establishing deposits in the FDI.

  (3) The FDI may not be listed on the U.S. Treasury's Specially Designated Nationals (SDN) list.

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');