Anybody come across this before? Somebody tipped me off to this and I have been doing a little homework. Apparently you have to comply with the Patriot Act to buy a car (and other things).
According to PatriotDealer.com:
George W. Bush created a Federal No-Sell List with Executive Order 13224: Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism.
Transactions are Federally prohibited with people who are on this list. The list is maintained by the U.S. Department of the Treasury, Office of Foreign Assets Control.
Here is the most recent edition (2/6/2012) of the list. At 520 pages long, the No-Sell List looks comparable in size and format to a phonebook.
Specially Designated Nationals and Blocked Persons | OFAC
Here's a document prepared by a law firm regarding compliance with terrorism laws for car dealers.
Dealership's Compliance with the USA PATRIOT Act, Its Implementing Regulations, and Other Anti-Terrorism Measures
According to PatriotDealer.com:
Auto dealers are required by law to review the Treasury Department's Office of Foreign Assets Control (OFAC) list, which includes the names of individuals, organizations and countries against which the U.S. has imposed sanctions. Dealerships must review this list prior to entering into any sales or finance contract with an individual, business entity, charitable organization--anyone.
George W. Bush created a Federal No-Sell List with Executive Order 13224: Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism.
Transactions are Federally prohibited with people who are on this list. The list is maintained by the U.S. Department of the Treasury, Office of Foreign Assets Control.
Here is the most recent edition (2/6/2012) of the list. At 520 pages long, the No-Sell List looks comparable in size and format to a phonebook.
Specially Designated Nationals and Blocked Persons | OFAC
Here's a document prepared by a law firm regarding compliance with terrorism laws for car dealers.
Dealership's Compliance with the USA PATRIOT Act, Its Implementing Regulations, and Other Anti-Terrorism Measures