Financial Crime World

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UK Government Unveils Latest Consolidated List of Financial Sanctions Targets

LONDON - The UK Treasury has released its latest consolidated list of financial sanctions targets, aimed at combating terrorism, terrorist financing, and proliferation.

Key Features

The list is divided by country, with separate sections for:

  • Terrorist financing
  • Al-Qaida
  • Regimes such as Afghanistan, Syria, and others

Treasury Guidance

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The UK Treasury offers guidance on the consolidated lists, including information on:

  • Sanctions regimes
  • Target individuals and entities
  • How to comply with financial sanctions This guidance is available on the HM Treasury website.

Financial Sanctions Updates

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Recent updates to the UK’s financial sanctions regime include:

Russia Regime

The UK has imposed further sanctions on Russian individuals and entities in response to the country’s actions in Ukraine.

Myanmar Regime

The UK has strengthened its sanctions against Myanmar following the military coup in February 2021.

ISIL (Da’esh) and Al-Qaida Organisations Regime

The UK has continued to impose sanctions on individuals and entities linked to these terrorist groups.

Subscription Facility

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The HM Treasury offers a free subscription facility, allowing users to receive notifications by email when the consolidated list is updated or changes are made to the UK sanctions regime. Users can select specific financial sanctions topics, such as:

  • Finance
  • Import/export

to ensure they receive relevant updates.

Financial Sanctions Guidance and FAQs

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The Financial Sanctions Implementation Unit (FSIU) has also published guidance and frequently asked questions (FAQs) on its website. This guidance is aimed at helping individuals and businesses comply with financial sanctions and should be read in conjunction with the consolidated list.

Conclusion

The UK government’s latest consolidated list of financial sanctions targets demonstrates its commitment to combating terrorism, terrorist financing, and proliferation. By providing clear guidance and regular updates, the Treasury aims to support businesses and individuals in complying with these important sanctions regimes.