Regulatory Alerts2022-01-01
Financial Intelligence (Implementation of United Nations Security Council Resolutions) Regulations 2022
Issued by Botswana's Minister of Finance and Economic Development under the Financial Intelligence Act, these regulations establish a comprehensive framework for implementing United Nations Security Council Resolutions on terrorism and proliferation financing. The rules mandate national listing and de-listing procedures for designated persons, entities, and structured groups, requiring immediate freezing of their property and economic resources alongside travel bans and prohibitions on making funds available. Accountable institutions and supervisory authorities must promptly identify, record, and report frozen assets to the Committee while adhering to streamlined application processes for property utilization, judicial review, and international de-listing.