31 C.F.R. § 597.201 Prohibited transactions involving blocked assets or funds of foreign terrorist organizations or their agents.
Title 31 - Money and Finance: Treasury
(a) Upon notification to Congress of the Secretary of State's intent to designate an organization as a foreign terrorist organization pursuant to 8 U.S.C. 1189(a), until the publication in the (b) Except as otherwise authorized by order, directive, instruction, regulation, ruling, license, or otherwise, from and after the designation of an organization as a foreign terrorist organization pursuant to 8 U.S.C. 1189(a), any U.S. financial institution that becomes aware that it has possession of or control over any funds in which the designated foreign terrorist organization or its agent has an interest shall: (1) Retain possession of or maintain control over such funds; and (2) Report to the Secretary of the Treasury the existence of such funds in accordance with §501.603 of this chapter. (c) Publication in the (d) The requirements of paragraph (b) of this section shall remain in effect until the effective date of an administrative, judicial, or legislative revocation of the designation of an organization as a foreign terrorist organization, or until the designation lapses, pursuant to 8 U.S.C. 1189. (e) When a transaction results in the blocking of funds at a financial institution pursuant to this section and a party to the transaction believes the funds have been blocked due to mistaken identity, that party may seek to have such funds unblocked pursuant to the administrative procedures set forth in §501.806 of this chapter. Requests for the unblocking of funds pursuant to §501.806 must be submitted to the attention of the Compliance Programs Division.
Title 31: Money and Finance: Treasury
PART 597—FOREIGN TERRORIST ORGANIZATIONS SANCTIONS REGULATIONS
Subpart B—Prohibitions
§ 597.201 Prohibited transactions involving blocked assets or funds of foreign terrorist organizations or their agents.