Financial Crime Legislation Updates in Congo, the Democratic Republic

Date: February 23, 2024

The United Kingdom has recently updated its sanctions list to include new restrictions on individuals and entities involved in financial crimes in the Democratic Republic of Congo (DRC). This move aims to curb serious human rights violations, abuse, and obstruction of democracy and good governance.

Key Update: Willy Ngoma Designated Under Sanctions Legislation

According to a statement by the Foreign, Commonwealth and Development Office, Willy Ngoma, a military spokesperson for M23, has been designated under sanctions legislation. He is accused of being involved in planning, directing, and committing acts that constitute human rights violations or abuses, including attacks on civilians.

Details of Designation

• Willy Ngoma was listed on February 21, 2024
• Subject to an asset freeze until further notice
• Designated under paragraphs 7(c), 7(e), and 7(h) of resolution 2293 (2016) and reaffirmed by paragraph 2 of resolution 2688 (2023)

UK Sanctions List: Overview

The UK Sanctions List provides details of individuals and entities designated for their involvement in serious human rights violations, abuse, or obstruction of democracy and good governance. The list is updated regularly to reflect new designations and changes to existing sanctions.

Compliance Requirements

• Financial institutions and other persons must check whether they maintain any accounts or hold funds for, or provide financial services to, designated individuals
• If so, they must freeze such accounts and report their findings to the Financial Intelligence Unit (FIU)

Consequences of Non-Compliance

Failure to comply with financial and trade sanctions legislation is a criminal offence.

Accessing the Updated List

The updated list is available on the UK Sanctions List website, along with further information on the UN measures in respect of DRC and links to other financial sanctions regimes.