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Financial Sanctions: Somalia

Thursday, 1 June 2023

This news release is issued to publicise the addition of 1 entry under the Somalia Sanctions Regime.

The Somalia (Sanctions) (EU Exit) Regulations 2020 (S.I. 2020/642) 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 engaging in or providing support for acts that threaten the peace, security or stability of Somalia, acting in violation of the general and complete arms embargo, obstructing the delivery of humanitarian assistance to Somalia or that are involved in the commission of a serious human rights violation or abuse, or a violation of international humanitarian law. The Somalia (Sanctions) (EU Exit) Regulations 2020 have effect in the Isle of Man by the Somalia Sanctions (Application) Regulations 2020 [S.D. 2020/0482].

On 31 May 2023 the Foreign, Commonwealth and Development Office updated the UK Sanctions List. This list provides details of those designated under sanctions legislation.

Addition

The following entry has been added and is now subject to an asset freeze:

  1. CADDOW, Abdullahi Osman Mohamed
    DOB: --/--/1983. Good quality a.k.a: CADDOW, Cabdullahi, Cusman, Maxamed Low quality a.k.a: (1) DHAGACADE (2) ENG. ISMAIL (3) FARACADE (4) INJINEER ISMAACIIL Nationality: Somalia Address: Somalia. Other Information: (UK Sanctions List Ref):SOM0024. (UN Ref):SOi.022. INTERPOL-UN Security Council Special Notice web link: https://www.interpol.int/en/How-we-work/Notices/View-UN-Notices-Individuals (Gender):Male Listed on: 26/05/2023 UK Sanctions List Date Designated: 31/05/2023 Last Updated: 31/05/2023 Group ID: 15987.

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 on the UN measures in respect of Somalia can be found on the relevant UN Sanctions Committee webpage.

Further details of the sanctions regime related to Somalia and links to other financial sanctions regimes may be found on the Customs and Excise pages of the Isle of Man Government website.

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