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The purpose of sanctions is to fight activity that appears to be intended to intimidate or coerce the govt or civil population, breaks criminal laws, or endangers human life. Listing ICC Prosecutor Bensouda turns that effort on its head and will lead America into isolation /1
In practice: One day, her bank will write Prosecutor Bensouda that she has fallen out of their risk appetite or that her accounts are being frozen or closed. She is likely not going to be accepted as a customer anywhere else. /2
She might seek advice from a solicitor who might tell her she can’t advise her as she cannot accept payment in cash. Direct debits will not be paid and she might start having problems paying her utilities. /3
Why is that? Glad you asked:
Why is that? Glad you asked:
European banks screen transactions for OFAC compliance - b/c transaction is in USD or bc they have subsidiaries in the US. If the bank believes that an SDN (a listed person) has an interest in the funds, it is required by U.S. law to “block” (freeze) the funds. 4/
Once funds are blocked, the only way to get them released is to obtain an unblocking license from OFAC (this takes up to 3-4 months). You heard it: It'll be up to OFAC to decide whether the ICC can wire her salary or if she gets to pay anything: from Netflix to her phone bill 5/
And what happens IF the bank account manager is just an ordinary human being who knows that Bensouda only crime is to be relentless in their Prosecution of literally the worst guys roaming the face of the Earth and wants to help her go by her life? Again, glad you asked 6/
If s/he indeed knows who Bensouda is and approves transactions not pre-authorised by OFAC this is what s/he will be risking
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Protecting Prosecutor Bensouda and the ICC against these unprecedented and unacceptable levels of harassment and intimidation (against her and presumably her family) is going to require political and corporate courage. I hope our leaders can mull it. 8/
If Europe cannot protect her, the very person standing against perpetrators of genocide, war criminal and crimes against humanity without "fear or favour", God helps us. 9/:
For more info on this, read this White Case Brief on the critical relation between responding banks and corresponding banks. https://www.whitecase.com/publications/alert/correspondent-risk-financial-crimes-and-correspondent-banking
Or this one, by Adam M. Smith—the former Senior Advisor in Treasury Dept agency handling sanctions
https://twitter.com/just_security/status/1272512379683770368
https://twitter.com/just_security/status/1272512379683770368
