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Financial Sanctions: Global Anti-Corruption Sanctions Regime

Thursday, 12 August 2021

This news release is issued to publicise a correction to two entries under the Global Anti-Corruption sanctions regime. 

The Global Anti-Corruption Sanctions (Isle of Man) Order 2021 extended with modifications, the United Kingdom’s Global Anti-Corruption Sanctions Regulations 2021.

The Global Anti-Corruption Sanctions Regulations 2021 [S.I. 2021/488] (the Regulations) 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 following entries have been amended and are still subject to an asset freeze.

  • Alvaro Enrique PULIDO VARGAS (Group ID: 14129)
  • Alex Nain SAAB MORAN (Group ID: 14128)

Full details can be found in the attached Annex.

Financial institutions and other persons are requested to check whether they maintain any accounts or otherwise hold funds or economic resources for, or provide financial services to, the designated individuals. If so, they must freeze such accounts or other funds and, unless licensed by the Treasury, refrain from dealing with said funds or economic resources, and suspend the provision of any financial services. They must also report their findings to the FIU. Where a relevant institution has already reported details of accounts, other funds or economic resources held frozen for the designated individuals, they are not required to report these details again.

Failure to comply with financial sanctions legislation or to seek to circumvent its provisions is a criminal offence.

Further details of the sanctions regime related to Global Anti-Corruption and links to other financial sanctions may be found on the Customs and Excise pages of the Isle of Man Government website

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