The Guernsey Financial Services Commission (GFSC) issued a sanctions notice advising that 12 individuals and one entity have been designated under the UK Global Irregular Migration and Trafficking in Persons (Sanctions) Regulations 2025, as implemented in the Bailiwick of Guernsey, and reminding firms of the associated asset-freeze and reporting requirements. The designated persons are Ali Derakhshan, Vahid Derakhshan, Flamur Krasniqi, ALPA Trading FZCO, Arif Krasniqi, Burim Krasniqi, Granit Avdyli, Sami Duriqi, Nexhmije Selmani, Valon Krasniqi, Shkembim Ermellahu, Endrit Ermellahu and Nusret Seferovic. Firms must check whether they hold accounts for, or have any relationship with, the designated persons (or others designated under the same legislation) and treat as frozen, with immediate effect, any funds, assets or economic resources directly or indirectly owned, held or controlled by them (including derived interests and assets held by persons acting on their behalf). Any findings must be reported immediately to the States of Guernsey Policy & Resources Committee, and firms must not make funds or economic resources available (directly or indirectly) to designated persons or related owned or controlled entities, except where a permitted derogation applies or a licence has been issued. Where an affected relationship is identified, firms should also inform the GFSC and submit a report under Handbook Rule 12.37, including (at a minimum) the relevant customer or transaction/asset linked to a sanctioned person and the nature of the business relationship or occasional transaction, including the transaction and/or asset value, as soon as reasonably practicable after meeting the statutory reporting requirements to the Policy & Resources Committee.

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