Acting Director for the Office of Foreign Assets Control (OFAC) Lisa Palluconi will travel to Colombia and Mexico from September 23 to September 27. This visit aims to strengthen Treasury's ties with the sanctions compliance communities in these countries.
The Biden-Harris Administration has bolstered Treasury’s ability to combat the global drug trade through various sanctions authorities, including Executive Order 14059 signed in December 2021. Since then, major drug trafficking organizations based in Colombia and Mexico have been designated by Treasury. These include Clan del Golfo in Colombia and Cartel Jalisco Nueva Generacion (CJNG) and the Sinaloa Cartel in Mexico. Secretary Yellen launched the Counter-Fentanyl Strike Force last year, which focuses on fighting financial crime with expertise from the Office of Terrorism and Financial Intelligence and IRS Criminal Investigation.
In Bogota, Colombia, Acting Director Palluconi will deliver keynote remarks at the second United States-Colombia Joint Summit on Sanctions and Anti-Money Laundering Compliance. Funded by the U.S. Department of State’s Bureau of International Narcotics and Law Enforcement Affairs, this summit brings together Colombian government officials and members of Colombia’s banking community. The goal is to deepen understanding of OFAC’s programs while encouraging discussions on shared priorities like environmental crime and anti-money laundering compliance.
In Mexico City, Acting Director Palluconi will attend an OFAC Compliance Workshop hosted by the Association of Banks in Mexico (ABM). The ABM has been a long-standing partner for OFAC and the U.S. Embassy in Mexico City. This event highlights collaboration between OFAC and ABM aimed at safeguarding financial systems' integrity, promoting shared security, economic prosperity, and ensuring effective implementation of Treasury's sanctions programs.
Treasury's partnership with the private sector has achieved significant success over time in promoting sanctions compliance and protecting financial systems from illicit capital flows.
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