Regulatory Alerts2013-08-21 | cba-blob-10385Sanction Decree Combat Terrorism and Terrorism Financing
The Governor of Aruba issued this State Decree to implement international counter-terrorism obligations by establishing a comprehensive framework for freezing the funds and assets of designated persons and entities. The decree mandates that the Minister, supported by the Bank and a National Sanction Committee, maintain consolidated Freezing Lists and requires Service Providers to continuously monitor these lists, freeze relevant assets, and report transactions involving designated parties. It further outlines procedures for amending the lists, lifting freezes upon verified identity or committee inquiry, and granting ministerial approval for accessing frozen funds to cover subsistence, legal fees, and extraordinary expenses.
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