Regulatory Alerts2024-12-27
AMLC Resolution No. TF-102: Targeted Financial Sanctions in Relation to ATC Resolution No. 64 (2024)
The Anti-Money Laundering Council issued Resolution No. TF-102 to amend previous sanctions by lifting Targeted Financial Sanctions for thirteen delisted individuals while maintaining them for seventeen designated terrorists. Financial institutions and covered persons are mandated to immediately freeze the assets of the maintained designees and submit written returns and Suspicious Transaction Reports within five days of publication. Violations involving the dealing with or making available funds to designated individuals are subject to prosecution under the Terrorism Financing Prevention and Suppression Act.
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