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TARGETED FINANCIAL SANCTIONS: FINANCIAL INTELLIGENCE CENTRE ISSUES GUIDELINES
- 06 March 2024
- Financial Sector
- SA Legal Academy
A recently published Financial Intelligence Centre compliance communication provides guidance to accountable institutions regarding their obligations to implement:
- UN Security Council resolutions, and
- the asset freezing requirements entailed in targeted financial sanctions.
This is noting that the purpose of such sanctions is to combat the financing of terrorism and the proliferation of weapons of mass destruction.
Released in draft form in November 2023 for public comment, the compliance communication provides:
- examples of the terrorist and weapons of mass destruction proliferation financing risks accountable institutions may face, and
- recommendations for a risk-based approach to targeted financial sanctions implementation.
Please click the links below for more information:
- communication
- accompanying notice
Published by SA Legal Academy Policy Watch
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