Former OFAC Licensing Section Chief and Sanctions Compliance Expert Joins Ferrari & Associates

Press Release

WASHINGTON, D.C. (August 19, 2024) – Ferrari & Associates, a leading U.S. sanctions law firm, is excited to announce that Aydin M. Akgün has joined the firm as Director of Licensing & Compliance following an over 20-year career at the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) where he served as an OFAC Licensing Officer and Chief in the OFAC Licensing Division.

During his time at OFAC, Mr. Akgün worked extensively on over 30 different sanctions programs, including sanctions involving Iran, Belarus, Global Magnitsky, Venezuela, and Nicaragua. In addition to his work related to the adjudication of license applications, Mr. Akgün also researched, interpreted, and advised on OFAC regulations, including through the provision of briefing packages and decision memoranda for OFAC’s management, including for the OFAC Director. Mr. Akgün was also frequently involved in coordinating with OFAC’s interagency partners on sanctions-related licensing activities, including by representing OFAC in interagency meetings, and preparing correspondence assigned to his team in response to inquiries from Congress, other federal agencies, and the public.  

“I have known Aydin for almost as long as I have been practicing law,” said Erich Ferrari, Ferrari & Associates’ Founder and Principal Attorney. “This is truly a dream hire for us, as Aydin has long been one of the faces of OFAC’s Licensing Division, and was always incredibly professional, responsive, and helpful during our interactions while he was in government. I know that his former colleagues will miss him, and, as a civil servant, he was a true asset to our country, so we feel very fortunate to have him join us.”

“I am truly delighted to join the Ferrari & Associates family,” explained Mr. Akgün. “After twenty years of civil service, I now have this exciting opportunity to continue, in a new capacity, working on the successful implementation of U.S. sanctions through a firm that is committed to this goal.” Mr. Akgün will bring his extensive licensing experience, and deep knowledge of the Venezuela, Global Magnitsky, and Iran sanctions programs to the firm’s licensing practice. That experience will enhance the firm’s ability to more effectively assess potential licensing matters; prepare OFAC license applications in a manner that will offer Ferrari & Associates’ clients the most reasonable chance for favorable adjudication; and help the firm refine its compliance advice with regard to the application of OFAC general and specific licenses. Also, Mr. Akgün’s experience in managing a licensing team at OFAC will be instrumental in building a team to help meet the growing demand for OFAC licensing that has arisen in the past several years.

Mr. Akgün’s addition continues the tradition of former OFAC officials joining Ferrari & Associates, and advances the Firm’s ability to continue to be a leader in the field of U.S. economic sanctions.