The Guernsey Financial Services Commission (GFSC) has published a sanctions notice following amendments by the United Nations Security Council Committee pursuant to Resolution 1988 concerning the Taliban to four entries on its Sanctions List: Mohammad Hassan Akhund, Abdul Ghani Baradar Abdul Ahmad Turk, Amir Khan Motaqi and Gul Agha Ishakzai. The updated UN Security Council Consolidated List is in force via the UK Afghanistan sanctions regime, which is implemented in the Bailiwick of Guernsey under local regulations made under the Sanctions (Bailiwick of Guernsey) Law, 2018. The notice instructs all businesses to check for any accounts or other relationships with the listed individuals or any other designated persons, and to treat relevant funds, assets and economic resources as frozen with immediate effect where not already frozen, including where held or controlled directly or indirectly or through persons acting on behalf of a designated person. Firms must report any findings immediately to the States of Guernsey Policy & Resources Committee and comply with statutory reporting obligations, and must not make funds or economic resources available to designated persons or entities they own or control 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 provide a report under Handbook Rule 12.37 covering, at a minimum, the relevant customer or transaction linked to a designated person, the nature of the relationship or transaction, and the transaction or asset value, as soon as reasonably practicable after meeting the statutory reporting requirements.

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