Nauru Financial Intelligence Unit Issues Warning Over Sanctioned Entities

The Nauru Financial Intelligence Unit (NFIU) has issued a circular to all stakeholders regarding the United Nations Security Council (UNSC) Consolidated List. The list includes individuals and entities subject to measures imposed by the UNSC, including asset freezing, export bans on certain items, and travel restrictions.

Supervising Anti-Money Laundering and Combating Financing of Terrorism

As the responsible authority for supervising anti-money laundering and combating financing of terrorism and proliferation of terrorism matters (AML/CFT), the NFIU has issued a warning to all stakeholders, including regulatory bodies such as:

• Nauru Maritime & Ports Authority (NMPA)
• Nauru Fisheries and Maritime Resources Authority (NFMRA)
• Nauru Maritime Administration (NMA)

These regulatory bodies have an obligation to implement targeted financial sanctions under the Anti-Money Laundering and Targeted Financial Sanctions Act 2023. Additionally, they must exercise caution and vigilance during registration purposes and notify the NFIU immediately if a name appears in any application or due diligence check undertaken.

UNSC Consolidated List

The UNSC Consolidated List is updated daily, with the latest version issued on April 25, 2024. The list includes one entry that was amended by the Security Council ISIL (Da’esh) and Al-Qaeda Sanctions Committee, which was announced through a press release dated April 25, 2024.

The NFIU has attached a copy of the UNSC Consolidated List and the Nauru Targeted Financial Sanctions Terrorism and Proliferation Financing Guide 2023 to its circular. Further information can be found on the UN website at https://www.un.org/securitycouncil/content/un-sc-consolidated-list#.

Contact: Rajas Swamy, Supervisor – Financial Intelligence Unit