Dalip: FIU Belize updates its Consolidated List of Listed Persons.
Monday, 31 July, 2023 - 03:02
On 24 July, 2023, the FIU of Belize updated the Consolidated List of Listed Persons (i.e. individuals and entities subject to targeted financial sanctions under the laws of Belize), deleting two individuals who have been de-listed by the ISIL (Da'esh) and Al-Qaida Sanctions Committee, says Andrew Dalip reviewing the changes.
editor's note: the changes draw attention to the difference between frozen assets and those that are confiscated.
The Notice reminds FIs and DNFBPs in particular of their obligations when a Listed Person is de-listed, including:
– Making previously frozen funds or assets available to the former Listed Person;
– Ongoing record-keeping requirements after targeted financial sanctions have been lifted;
– Ongoing obligations to conduct look-backs to identify third-parties who may have been owned, controlled, acting on behalf of or under the direction of the former Listed Person; and
– The obligation to self-report any previous oversights in compliance with targeted financial sanctions.
Please see the Notice published by Financial Intelligence Unit Belize at https://fiubelize.org/ .
Andrew Dalip is an attorney/international consultant in AML/CTF/CPF, Sanctions and Environmental Law in Diego Martin, Trinidad and Tobago
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