Financial Sanctions: Global Anti-Corruption Sanctions Regime

Thursday, 22 July 2021

This news release is issued to publicise the addition of five 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] 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. 

On 22 July 2021 the Foreign, Commonwealth and Development Office updated the UK Sanctions List. 

The following 5 individuals have been added to the List and are now subject to an asset freeze. 

  • Nawfal Hammadi AL-SULTAN (Group ID: 14130) 
  • Teodoro NGUEMA OBIANG MANGUE (Group ID: 14127) 
  • Alvaro Enrique PULIDO VARGAS (Group ID: 14129) 
  • Alex Nain SAAB MORAN (Group ID: 14128) 
  • Kudakwashe Regimond TAGWIREI (Group ID: 14126)  

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. 

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.

Issued By