11 Individuals have been added on the 7th September to the Jersey Financial Sanctions: Cyber list

Introduction 

1. The Cyber (Sanctions) (EU Exit) Regulations 2020 (the "UK Regulations") were made under the Sanctions and Anti-Money Laundering Act 2018 and provide for the imposition of financial sanctions, namely the freezing of funds and economic resources of persons who are have been involved in cyber activity which undermines, or is intended to undermine, the integrity, prosperity or security of the United Kingdom or a country other than the United Kingdom; directly or indirectly causes, or is intended to cause, economic loss to, or prejudice to the commercial interests of, those affected by the activity; undermines, or is intended to undermine, the independence or effective functioning of an international organisations or a non-government organisation or forum whose mandate or purposes related to the governance of international sport or the Internet; or otherwise affects a significant number of persons in an indiscriminate manner.

2. On 7 September 2023 the Foreign, Commonwealth and Development Office updated the UK Sanctions List to reflect changes to those persons designated under the UK Regulations. A link to the UK Sanctions List can be found below.

3. The Sanctions and Asset-Freezing (Implementation of External Sanctions) (Jersey) Order 2021 (the "Order"), made under the Sanctions and Asset-Freezing (Jersey) Law 2019 ("SAFL"), links to the UK Regulations.

4. Any changes to asset-freeze designations made under the UK Regulations are effective immediately by virtue of the ambulatory provisions in Jersey's sanctions legislation.

5. An asset freeze now applies to the persons listed in the Annex to this Notice under Part 3 of SAFL.

Notice summary (Full details are provided in the Annex to this Notice) 

6. 11 entries have been added to the consolidated list and are now subject to an asset freeze. Further information can be found in the Annex to this Notice.

What you must do   

7. You must:  

• Immediately check whether you maintain any accounts or hold any funds or economic resources for the persons set out in the Annex to this Notice.

• Freeze such accounts, and other funds or economic resources without prior notice and without delay.

• Refrain from dealing with the funds or assets or making them available (directly or indirectly) to such persons unless licensed by the Minister for External Relations ("MER").

• Report any findings to MER, together with any additional information that would facilitate compliance with SAFL.

• Provide any information concerning the frozen assets of designated persons that MER may request. Information reported to MER may be passed on to other regulatory authorities or law enforcement.

8. Failure to comply with sanctions legislation or to seek to circumvent its provisions is a criminal offence.

Further Information

9. Guidance on unfreezing assets for delisted persons/ entities can be found on the Government of Jersey website.

10. Further information on sanctions can be found on the Government of Jersey website and the Jersey Financial Services Commission (JFSC) website.

11. Jersey guidance on the Cyber sanctions regime is available on JFSC website.

12. Copies of Jersey sanctions legislation, including the Order and SAFL, can be found on the Jersey Legal Information Board website.

13. A copy of the UK Regulations can be obtained from legislation.gov.uk and other relevant information about this regime can be found on gov.uk.

14. The UK Sanctions List.

15. The UK Office of Financial Sanctions Implementation Consolidated List.

Enquiries

16. Non-media enquiries, sanctions compliance reporting, and licence applications should be addressed to: 

Financial Sanctions Implementation Unit

sanctions@gov.je 

Annex

17. Annex to Financial Sanctions Notice Cyber 07 September 2023

Source:

Financial Sanctions Notice Cyber 07 September 2023 (gov.je)