Regulatory Alerts2026-01-22 | 20260122Treasury Sanctions Costa Rican Narcotics Trafficking Network
The U.S. Department of the Treasury designated Luis Manuel Picado Grijalba and his network as one of the Caribbean’s largest narcotics trafficking operations. OFAC added six individuals and five entities to the Specially Designated Nationals List for their involvement in illicit drug activities linked to Picado Grijalba. These sanctions, issued under Executive Order 14059, target key figures and businesses operating in Costa Rica to disrupt the network's financial infrastructure.
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