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The Financial Services Commission advises its licensees and registrants, who are required to comply with the requirements of the Anti-Money Laundering and Prevention of Terrorist Financing Regulations 2010 (as amended), and the Anti-Money Laundering and Prevention of Terrorist Financing Code 2011 (as amended), to pay careful attention to the Financial Sanctions Notice referenced in this Public Notice.

This Public Notice brings to the attention of licensees and registrants Financial Sanctions Notice, FSN-77-20, issued by the Attorney General’s Chambers today, 21 September 2020. FSN-77-20 advises that amendments have been made to the identifying information for 5 entries (2 individuals and 3 entities) in the Libya sanctions regime. These entries are now subject to an asset freeze and have been added to the consolidated list.

  • Mahmoud Mustafa Busayf Al-Werfalli (Group ID: 13913)
  • Moussa Diab (Group ID: 13914)
  • Sigma Airlines (Group ID: 13915)
  • Avrasya Shipping (Group ID: 13916)
  • Med Wave Shipping (Group ID: 13917)

Licensees and registrants are advised that they are required to apply the following measures to the entries referenced above:

  1. Check whether they maintain any accounts or hold any funds or economic resources for the entries listed in the Annex of the UKOFSI Notice, which can be accessed via the link in FSN-77-20.
  2. Freeze such accounts and other funds or economic resources.
  3. Refrain from dealing with the funds or assets or from making them available (directly or indirectly) to the entries unless licensed by the Governor.
  4. Report any findings to the Governor, with any additional information, that would facilitate compliance with the UK’s Terrorist-Asset Freezing Act (Part 1, including Part 1 of Schedule 2, which was extended to the Turks and Caicos Islands.)
  5. Provide any information concerning the frozen assets of the entries that the Governor may request, noting that information reported to the Governor may be passed on to other regulatory authorities or law enforcement.

Licensees and registrants should continue to inform the Commission if they have any dealings with the entries and provide information on the measures applied to them.

AML Supervision Department

Public Notice 67 of 2020