Episode Details

Interview and Discussion with OFAC Attorney Mehrnoush Yazdanyar. Website: www.YazdanyarLaw.com Youtube: https://www.youtube.com/channel/UCP_z... Blog: http://www.yazdanyarlaw.com/blog/ 00:00 - Episode Introduction 01:34 - Background of Mernhoush Yazdanyar 02:04 - Initial Legal work and subsequent start of practice (Iran OFAC sanctions works) 02:34 - What she studies in college 03:02 - Her initial real estate legal work and her thoughts about being a lawyer before graduating as opposed to after being an attorney and finding the type of work that she was meant to do 06:25 - Her passion for working/interacting with the client directly which is lacking some types of practices 07:40 - Her experience in Immigration Law, and small family-based immigration practice before starting OFAC work 09:08 - How she got into OFAC work (First OFAC case and saw the effect of sanctions on individuals for personal (non-commercial) transactions 11:30 - How Currency Exchange process works for Iran and how to do it to avoid issues 13:28 - Issues when Moneychangers do Cash Deposits into Client Accounts 15:35 - IRS Scam for those doing money transfers and effect of investigations into individuals involved in the process (Checking to make sure no one is on the designated OFAC list) and general issues with Iran transactions 18:45 - U.S. Bank rejecting the funds and dealing with Currency Exchangers in Iran, and the importance of good wiring instructions 22:41 Typical OFAC Questions: Is OFAC over or gone? 24:50 - General Licenses for OFAC (two biggest are receipt of family money non-commercial person remittance, gift or inheritance and sales of real property that had before becoming a US Person, or after becoming a US person through inheritance) 26:00 - Opening a bank account from an OFAC sanctioned country national, while in the U.S. on a tourist visa. 28:50 - General licenses and Specific licenses for business activities with Iran (e.g. agriculture, foodstuffs, pharmaceuticals, etc). Also sure to adhere to other export regulations from the U.S. 30:36 - Definition of general v. Specific Licenses from OFAC 31:50 - Errors Iranian make when doing OFAC on their own, and sanctions violations they are not aware of 33:15 - Time frame for getting a specific license 34:30 - About the type of practice she has (sole practitioner)

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