<p>ALEXANDRIA, Va.-The Office of Foreign Asset Control (OFAC) has updated the list of "Specially Designated Nationals" financial institutions are required to block the assets of pursuant to an Executive Order following the September 11 terrorist attacks. NCUA has notified credit unions of periodic updates to the list every month beginning in September. OFAC has issued 61 pages worth of sanctions against individuals and entities in thirteen countries. The list is available on OFAC's Web site at www.treas.gov/ofac. "Federally insured credit unions are required to enforce these sanctions and should maintain a current list of these prohibited individuals and countries, and compare their members, new members, and account transactions against the list, blocking all accounts and transactions with the prohibited entities," NCUA Chairman Dennis Dollar wrote in a Letter to Credit Unions (01-CU-25) last month. The agency has also developed a checklist for examiners to use to review credit unions' compliance with OFAC regulations. The checklist is attached to the letter and available on NCUA's Web site.</p>