Please be advised of the following change to sanctions listings related to terrorist financing, which has immediate effect in the Bailiwick.
On 23 July 2014 the Council of the European Union announced that it has reviewed the list of persons designated under Council Regulation (EC) No 881/2002. These designations have direct effect in the Bailiwick as designations under section 1 of the Terrorist Asset-Freezing (Bailiwick of Guernsey) Law 2011. Following the review, the following person has been removed from the lists of designated legal and natural persons subject to an asset freeze:
- Sofiane Yacine Fahas
The existing designations for the other ten persons and 25 entities on the list remain in place, and have been confirmed by Council Implementing Regulation (EU) No. 790/2014.
All financial services businesses in the Bailiwick are requested to:
- Check whether they maintain any accounts or otherwise hold any funds or economic resources for the person referred to above
- Report any findings to the Policy Council
- Inform the Policy Council before making any funds or economic resources available to the person referred to above.
Businesses are also reminded that they must refrain from making any funds or economic resources available to any person or entity which remains designated unless licensed by the Policy Council.
Any information or queries should be sent to [email protected] with the subject line 'Terrorist Financing sanctions'.