The Commission has updated Appendix I to the Handbook after the announcement that Iceland and Mongolia are no longer under increased monitoring by FATF because of their strengthened AML/CFT regimes. Iceland has been removed from Appendix I, but Mongolia will remain as it continues to be listed by a relevant external source. Part of The …
Handbook on Countering Financial Crime and Terrorist Financing Read More »
The GFSC is participating in the GFIN’s Cross-Border Testing, which launches 29th October 2020. The Global Financial Innovation Network (GFIN) is inviting applications from firms to test innovative financial products, services, business models or regulatory technology across more than one country or jurisdiction. Firms interested in applying should submit an application via the GFIN website …
On 12th October 2020, The Bank of England (“BoE”) published a letter requesting feedback in relation to any possible operational implications that firms would encounter if the Bank of England’s Monetary Policy Committee (“MPC”) implemented a zero or negative policy rate. A copy of the letter is available here. Guernsey regulated firms should consider if there are …
An asset freeze and travel ban have been imposed on two people and one entity under the EU’s cyber sanctions regime for their involvement in the cyber-attack on the German Parliament (Deutsche Bundestag) in April and May 2015. Individuals: Dmitry Sergeyevich Badin and Igor Olegovich Kostyukov. The EU regulation can be found here: Council Implementing Regulation (EU) 2020/1536. It is …
The EU Council has imposed an asset freeze and travel ban against seven individuals under its Syria sanctions regime and have been designated under Council Implementing Regulation (EU) 2020/1505. Individuals: Tala AL –BARAZI, Loubana MOUCHAWEH, Darem TABA’A, Ahmed SAYYED, Tammam RA’AD, Kinan YAGHI and Zuhair KHASIM The EU Regulation is implemented in the Bailiwick by …
The EU has listed 6 Russian officials and 1 entity under its chemical weapons sanctions regime. The 7 persons have been designated under Council Implementing Regulation (EU) 2020/1480 for their involvement in the assassination attempt on Alexei Navalny in August 2020. Individuals: Andrei Veniaminovich YARIN, Sergei Vladilenovich KIRIYENKO, Sergei Ivanovich MENYAILO, Aleksandr Vasilievich BORTNIKOV, Pavel Anatolievich POPOV, …
The EU Council has imposed an asset freeze and travel ban against one individual under its Libya sanctions regime. The following individual has been designated under Council Implementing Regulation (EU) 2020/1481. Yevgeniy Prigozhin The EU Regulation is implemented in Guernsey by the Libya (Restrictive Measures) (Guernsey) Ordinance, 2016. For a full list of GFSC sanctions including measures …
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The United Nations Security Council Committee has added one individual to the ISIL (Da’esh) and Al-Qaida Organisations financial sanctions regime. The following individual has been added to the consolidated list and is subject to an asset freeze: Jamal Hussein Hassan Zeiniye Under section 13 of the Sanctions (Bailiwick of Guernsey) Law, 2018 (the Sanctions Law), this amendment …
Two individuals and four entities have been added to the list of sanctioned entities in the EU implemented by Council Implementing Regulation (EU) 2020/1367. Individuals: Alexander Nikolaevich Ganov and Leonid Kronidovich Ryzhenkin. Entities: Joint-stock company “Lenpromtransproyekt”, Joint-stock company “The Berkakit-Tommot-Yakutsk Railway Line’s Construction Directorate”, Federal State Unitary Enterprise “Crimea Railway” & First Crimean Insurance Company. These are and are …
