OFAC amends Global Magnitsky Sanctions Regulations and designates network of al-Shabaab facilitators

According to OFAC, al-Shabaab generates more than $100m per year to support al-Qa’ida ambitions worldwide and is responsible for some of the worst terrorist attacks in East Africa’s modern history that have claimed the lives of thousands of innocent civilians.  The targeted network is reportedly made up of influential businesspersons and companies located in the Horn of Africa, the United Arab Emirates (“UAE”) and Cyprus.