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  • FC-8.3 FC-8.3 Designated Persons and Entities

    • FC-8.3.1

      Without prejudice to the general duty of all conventional bank licensees to exercise the utmost care when dealing with persons or entities who might come under Article 1, Paragraphs (c) and (d) of UNSCR 1373, conventional bank licensees must not deal with any persons or entities designated by the CBB as potentially linked to terrorist activity.

      Amended: October 2014
      October 07

    • FC-8.3.2

      The CBB from time to time issues to licensees lists of designated persons and entities believed linked to terrorism. Licensees are required to verify that they have no dealings with these designated persons and entities, and report back their findings to the CBB. Names designated by CBB include persons and entities designated by the United Nations, under UN Security Council Resolution 1267 ('UNSCR 1267').

      October 07

    • FC-8.3.3

      Conventional bank licensees must report to the relevant authorities, using the procedures contained in Section FC-5.2, details of any accounts or other dealings with designated persons and entities, and comply with any subsequent directions issued by the relevant authorities.

      October 07