This news release is issued to publicise the amendment of 64 entries under the ISIL (Da’esh) and Al-Qaida Sanctions Regime.
The ISIL (Da’esh) and Al-Qaida (United Nations Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/466) 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 associated with ISIL (Da’esh) or Al-Qaida. The ISIL (Da’esh) and Al-Qaida (United Nations Sanctions) (EU Exit) Regulations 2019 have effect in the Isle of Man by the ISIL (Da’esh) and Al-Qaida (United Nations Sanctions) (Application) Regulations 2020 [S.D. 2020/0478].
62 entries have been amended on the consolidated list as a result of changes to the UN Sanctions List on 29 December 2021. Further, 2 entries have been amended following an update to the UK Sanctions List made on 6 January 2022. These entries remain subject to an asset freeze.
Full details of the amendments can be found in the attached Annex to this news release.
Consequently the Foreign, Commonwealth and Development Office updated the Consolidated List. This list provides details of those designated under sanctions legislation.
Further details on the UN measures in respect of ISIL (Da’esh) and Al-Qaida can be found on the relevant UN Sanctions Committee webpage.
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, the designated individual. If so, you must freeze such accounts or other funds and, unless licensed by the Treasury, not deal with those funds or economic resources, and suspend the provision of any financial services. 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 details of the sanctions regime related to ISIL (Da’esh) and Al-Qaida and links to other financial sanctions regimes may be found on the Customs and Excise pages of the Isle of Man Government website.