Western Union Warns Customers About Upcoming OFAC Restrictions on Cuba
Western Union has not been able to find a workaround to new Treasury Department restrictions on Cuba (see 2010280027) and said it will soon not be able to process money transfers to the island, the company told customers Nov. 13. The company said it has “been working around the clock to explore every possible option to keep our services open between the U.S. and Cuba” but “we have not been able to find a solution in this limited timeframe.” The remittance restrictions, announced by Treasury’s Office of Foreign Assets Control earlier this year (see 2009230029 and 2010230024), will take effect Nov. 27.
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“You have our commitment that we will continue to explore every possible option to find a solution,” Western Union said. The company also released a series of frequently asked questions about the restrictions and how they will impact money transfers. OFAC didn’t immediately comment.