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UK Imposes Banking Regulations to Combat Anti-Money Laundering in Democratic Republic of Congo
The United Kingdom has updated its financial sanctions list, targeting individuals and entities involved in human rights violations, international humanitarian law breaches, and obstructing democracy in the Democratic Republic of Congo.
Key Addition to Sanctions List
According to the latest notice from the Office of Financial Sanctions Implementation (OFSI), Willy NGOMA, a Major and military spokesperson for the M23 rebel group, has been added to the list. His assets have been frozen, and all individuals are required to check their accounts and freeze any funds or economic resources belonging to him.
Consolidated List Update
The UK Sanctions List now includes 16,382 entities and individuals subject to financial sanctions. The Consolidated List has also been updated, with one entry corrected to match the UK’s list.
Regulatory Requirements for Financial Institutions
Financial institutions are required to report any findings to OFSI, along with the information on which their knowledge or suspicion is based. Failure to comply with these regulations may result in criminal charges.
Public Information and Resources
The public can access more information about financial sanctions and the UK’s regime through the GOV.UK website. Media inquiries should be directed to the Treasury Press Office or the Foreign, Commonwealth & Development Office Press Office.
Key Points:
- Willy NGOMA, a Major and military spokesperson for M23, has been added to the list of individuals subject to financial sanctions.
- All funds and economic resources belonging to him must be frozen.
- Financial institutions are required to check their accounts and report any findings to OFSI.
- Failure to comply with regulations may result in criminal charges.
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