Regulatory Alerts2020-01-17
Central Bank of Seychelles Circular on OFAC Sanctions
The Central Bank of Seychelles directs all local banks to immediately cease transactions with Power Anchor Ltd and initiate account closure proceedings for the entity. Financial institutions must also ensure compliance with recent U.S. Treasury OFAC sanctions targeting Iranian entities and prohibit further transactions with sanctioned parties. Banks holding existing Power Anchor Ltd accounts are required to submit all related account information directly to the Central Bank for record-keeping.
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