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UK Tightens Financial Crime Prevention Policies for Central African Republic

London, February 23, 2024

The British government has announced an amendment to its sanctions regime aimed at preventing financial crime and supporting peace efforts in the Central African Republic. The update targets individuals involved in human rights violations, international humanitarian law breaches, and other activities that undermine the country’s stability.

Sanctions Regime Update

As part of the UK’s efforts to comply with the Sanctions and Anti-Money Laundering Act 2018, the Central African Republic (Sanctions) (EU Exit) Regulations 2020 have been updated. The list of individuals subject to sanctions now includes Wagner Commander in Africa, Konstantin Aleksendrovitch Pikalov.

Designation of Konstantin Aleksendrovitch Pikalov

According to the UK Sanctions List, Pikalov is accused of being involved in violations of international humanitarian law, including deliberate targeting of civilians. His designation aims to prevent him from benefiting financially from his activities and restrict his ability to engage in further harm.

Financial Institution Requirements

Financial institutions and other individuals are required to:

  • Check if they hold funds or economic resources for designated individuals
  • Freeze them unless licensed by the Treasury

Failure to comply with financial sanctions legislation is a criminal offense, punishable by law.

Consolidated List Update

The amendment also updates the Consolidated List, which provides details of those designated under sanctions legislation. The UK government has emphasized the importance of preventing financial crime and supporting peace efforts in the Central African Republic, highlighting the need for international cooperation to address the ongoing crisis.

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