UN Security Council Sanctions Notices

Pursuant to Section 3A of the International Obligations (Economic & Ancillary Measures) Amendment Act, 2019, supervised financial institutions (“SFIs”), are informed regarding updates made by the United Nations Security Council (“UN Security Council”) Committee. As such, all SFIs licensed in The Bahamas, as a matter of high priority, are required to review their client records to determine whether or not they hold funds, other financial assets or economic resources which are either owned or controlled directly or indirectly by the persons or entities listed on the Sanctions List or any person acting on their behalf or at their discretion, and report both positive and negative findings to the Central Bank by the specified deadline. Any positive findings (“hits”) are required to be reported to the Financial Intelligence Unit and the Attorney General.