This news release is issued to publicise the addition of 4 entries under the Global Anti-Corruption Sanctions Regime.
The Global Anti-Corruption Sanctions Regulations 2021 (S.I. 2021/488) were made under the Sanctions and Anti-Money Laundering Act 2018 (the Sanctions Act) and provide for the freezing of funds and economic resources of certain persons, entities or bodies responsible for or involved in serious corruption. The Global Anti-Corruption Sanctions Regulations 2021 [SI 2021/488] have effect in the Isle of Man by the Global Anti-Corruption Sanctions (Isle of Man) Order 2021 [SI 2021/526].
On 10 August 2023 the Foreign, Commonwealth and Development Office updated the UK Sanctions List. This list provides details of those designated under sanctions legislation.
Additions
The following entries have been added to the Consolidated List and are now subject to an asset freeze:
- Marianne HOAYEK (Group ID: 16071)
- Anna KOSAKOVA (Group ID: 16070)
- Riad SALAMEH (Group ID: 16068)
- Raja SALAMEH (Group ID: 16069)
Full details can be found on the annex attached to this notice.
What you must do
Financial institutions and other persons are required to check whether you maintain any accounts or otherwise hold funds or economic resources for, or provide financial services to, designated individuals. If so, you must freeze such accounts or other funds and, unless licensed by the Treasury, not deal with those funds or economic resources, make those funds or economic resources available to a designated person, or make those funds or economic resources available for the benefit of a designated person. You must also report your findings to the FIU.
Failure to comply with financial and trade sanctions legislation or to attempting to circumvent its provisions is a criminal offence.
Where a relevant institution has already reported details of accounts, other funds or economic resources held frozen for the designated person, you are not required to report these details again.
Further information
Consequently the Foreign, Commonwealth and Development Office updated the Consolidated List. This list provides details of those designated under sanctions legislation.
Further details of the sanctions regime related to Global Anti-Corruption and links to other financial sanctions regimes may be found on the Customs and Excise pages of the Isle of Man Government website.
