Overseas Bank Account

I know that many people try to hide money in offshore accounts so he asked me when one of our local banks, Ala., has been bought by a Spanish bank.

There are many U.S. banks that are owned by foreign parents, which is legal. If this deal went through with your bank, the regulatory body that oversees the transactoin would not be allowed if the country was on a blocked list.

Generally, the only time a bank is required to "freeze" or "block" an account is whether the person / group / country is on the OFAC list. Those on the OFAC list of known terrorists or drug traffickers. In fact, it is unlawful for any person in the United States to do business with anyone on the OFAC list.

The link below may be able to answer many of your questions about blocked or frozen accounts and countries on the OFAC list. Spain is not one of them.