By The Data Nerd, Founder & Compliance Engineer ·
OFAC Sanctioned: Garantex
SANCTIONED · Designated: 2022-04-05 · Type: Cryptocurrency exchange · Jurisdiction: Russia
Garantex was designated by OFAC in April 2022 for failing to implement AML/CFT measures and allowing Russian illicit actors to operate. Designated under EO 14024 (Russia harmful foreign activities).
What this designation means
All transactions with Garantex wallets are prohibited for US persons and AI agents operating on their behalf.
Screen this name via API (free, no API key)
curl "https://sanctionsai.dev/sanctions?name=Garantex"Free tier: 5 checks/day by IP. Real OFAC SDN data, refreshed daily.
Compliance obligations
- Block all transactions: US persons and AI agents operating on their behalf must not transact with Garantex.
- Report blocked property: Within 10 business days, file reports with OFAC for any blocked transactions.
- Recordkeeping: Retain all screening records and transaction evidence for 5 years.
- Voluntary Self-Disclosure: If a violation occurred, file a VSD within 30 days for ~50% penalty mitigation.
Penalties for non-compliance
Civil penalties start at $356,571 per violation or twice the transaction value, whichever is greater. Criminal penalties for willful violations can reach $20 million and 30 years imprisonment. Each transaction with Garantex is a separate violation under OFAC strict liability.
Frequently asked questions
Is Garantex still sanctioned?
Yes. Garantex was designated by OFAC on 2022-04-05 and remains on the SDN list as of 2026-07-18. SDN designations are rarely lifted without a specific OFAC delisting action.
How do I check if a counterparty is sanctioned?
Use the sanctionsai.dev API: send a GET request with a name, wallet, or country parameter. The API checks against the full OFAC SDN list in under 100ms.
What is the penalty for transacting with a sanctioned entity?
OFAC civil penalties start at $356,571 per violation or twice the transaction value. Criminal penalties can reach $20 million and 30 years imprisonment.
How often should I screen counterparties?
Before every transaction. OFAC list updates are frequent, and an entity not flagged yesterday may be flagged today.