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Terrorism and Other Crime (Financial Restrictions) Act 2014 – Andrey Kostantinovich Lugovoy and Dmitri Vadimovich Kovtun

Wednesday, 24 January 2018

On 22 January 2018, HM Treasury made two designations under section 4 of the Anti-Terrorism, Crime and Security Act 2001.

The designations concerned:

ANDREY KOSTANTINOVICH LUGOVOY and

DMITRI VADIMOVICH KOVTUN

Under the terms of section 24(1) of the Terrorism and Other Crime (Financial Restrictions) Act 2014 (the 2014 Act), where HM Treasury in the UK enacts a measure that is the equivalent of a freezing order made under Division 2 of Part 2 of the 2014 Act, then that measure has effect in the Isle of Man as if it were a freezing order made under the 2014 Act.

Therefore the Treasury requires institutions and businesses in the Island to check whether they hold any funds belonging to the individuals, freeze any such funds, and refrain from dealing in such funds or making them available to any person (unless permitted to do so under a licence granted by the Treasury).

Anyone finding any funds belonging to the individuals must report their findings to the Customs and Excise Division, together with any additional information that would facilitate compliance with the requirements of the 2014 Act.  Any person with any information concerning any frozen assets must provide the Division with any information that it may request.

Further details of the designated individuals are contained in the Annex to this news release.

Part 4 of the 2014 Act contains details of how any person affected by a designation may apply to the High Court to have the decision of the designation set aside.

Further more information contact Customs and Excise

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