Blocking Property of Transnational Criminal Organizations

Jul 27, 2011

Summary

Stops international criminal groups from using their money and property in the United States by freezing their assets.

What problem does this solve?

Major international criminal groups are a big threat to the safety and money systems of the United States. This order freezes the money and property of these groups and their supporters in the U.S. to stop them.

What does this order do?

Declares a national emergency

Declares that major international criminal groups are an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States.

Blocks all property and assets

Freezes all property and money in the U.S. belonging to designated criminal groups and anyone who helps them. This property cannot be moved, paid, or used.

Authorizes designation of new targets

Allows the Secretary of the Treasury to add more people, groups, or companies to the list if they are found to be part of or supporting these criminal organizations.

Prohibits donations

Bans making or receiving donations, including items like food and medicine, to or from any of the blocked criminal groups or individuals.

Allows freezing assets without warning

States that the government does not need to give notice before freezing assets. This is to stop criminals from quickly moving their money to avoid the block.

Who does this affect?

Transnational criminal organizations
Individuals and companies supporting criminal organizations
U.S. financial institutions

What is the real world impact?

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Disrupts criminal networks financially

Cuts off access to the U.S. financial system for major criminal groups, making it harder for them to operate and fund their illegal activities.

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Strengthens foreign policy tools

Uses economic pressure to target international criminal groups, which can also influence foreign governments that may be connected to or allowing these groups to operate.

When does this start?

Takes effect at 12:01 a.m. eastern daylight time on July 25, 2011.