Guernsey Financial Services Commission flags eight Democratic Republic of the Congo sanctions designations requiring asset freezes, six also subject to travel bans

The Guernsey Financial Services Commission has notified businesses that two entities and six individuals have been designated under the United Kingdom's Democratic Republic of the Congo sanctions regime, which is implemented in the Bailiwick through Guernsey's sanctions framework. The two entities, Alliance Fleuve Congo and Twirwaneho, are now subject to an asset freeze. The six individuals, Charles Sematama, Corneille Nangaa, Gustave Kubwayo, John Nzenze, Muhammed Lumisa and Sebastien Uwimbabazi, are subject to both an asset freeze and a travel ban. Businesses must check whether they hold accounts for, or otherwise have relationships with, the designated parties or any other designated persons under the relevant legislation. Any funds, assets or economic resources belonging to, owned, held or controlled by those persons, including assets held indirectly, jointly or through persons acting on their behalf, must be treated as frozen immediately if that has not already been done. Firms must also refrain from making funds or economic resources available to designated persons, entities they own or control, or persons acting at their direction, except where a permitted derogation applies or a licence has been issued. Any findings must be reported immediately to the Policy & Resources Committee under the Sanctions Law, and firms that identify an affected relationship must also report it to the commission as soon as reasonably practicable after meeting the statutory reporting requirement, including the sanctioned link and the nature and value of the relationship, transaction or asset.