Vanuatu Implements Financial Sanctions Act to Combat Terrorism

In June 2017, the Government of Vanuatu enacted the United Nations Financial Sanctions Act (UNFS Act) to prevent terrorism and impose prohibitions arising from UN Security Council Resolutions and domestic resolutions.

Designation Process

The Act outlines a designation process for persons or entities designated by either the UN Security Council Resolutions or by the Prime Minister of Vanuatu. The Vanuatu Financial Intelligence Unit (FIU) serves as the sanctions secretariat and supports the functions of the newly appointed National Security Advisory Committee, which advises the Prime Minister on designation purposes.

Responsibilities of Reporting Entities

The FIU is responsible for ensuring that all reporting entities and persons holding properties for or on behalf of any other persons know and understand their customers or properties held in their custody. If a customer is subject to sanctions or if they hold sanctioned property, reporting entities and such persons must report the matter to the FIU immediately and not proceed with the transaction.

Designated Persons

Designated persons will be notified of the prohibitive measures and have avenues available to seek authorisation, review, and revocation. Authorisations to deal with frozen assets and access financial services can be granted for:

• Basic expenses
• Contractual obligations
• Extraordinary expenses

Delisting Requests

The UNFS Act also requires designated persons listed on the 1267, 1988, and 1718 Sanctions Lists to apply for delisting through the relevant UNSC Committee or directly to the Sanctions Secretariat. Requests for delisting can also be made via a representative, and designated persons have the right to seek judicial review from the courts.

Contact Information

For more information on the UNFS Act, reporting entities and members of the public may contact the FIU at:

• Tel: (678) 22362
• Mob: (678) 7330250
• Email: vfiu@vanuatu.gov.vu

Online Resources

The following online resources are available:

• United Nations Financial Sanctions Act No. 6 of 2017
• Guidance Note to the Reporting Entities & the Public regarding the United Nations Financial Sanctions Act No. 6 of 2017
• Application by a foreign Government for designation of a person or entity under section 29 of the United Nations Financial Sanctions Act No. 6 of 2017
• …and more online resources available at [insert website link]