Isle of Man Treasury publicises UK counter-terrorism sanctions list amendments adding director disqualification measures for four individuals

The Isle of Man Treasury issued a financial sanctions notice under the Counter-Terrorism (Domestic) regime to publicise amendments to four entries on the UK Consolidated List, updated by the UK Foreign, Commonwealth and Development Office, which now include director disqualification sanctions. The amended listings are Mohammed Fawaz Khaled and Aozma Sultana, who are now subject to director disqualification in addition to an asset freeze, and Nazem Ahmad and Mustafa Ayash, who are now subject to director disqualification in addition to an asset freeze and travel ban. The notice also highlights that determining whether a customer is designated includes assessing whether entities are owned or controlled (directly or indirectly) by a listed person, and reiterates that relevant institutions should immediately freeze matching funds or economic resources, avoid making them available without an exemption or licence, and report frozen assets and suspected breaches to the Financial Intelligence Unit via Themis. It also notes that director disqualification sanctions are treated as disregarded in the Isle of Man, but that compliance with the UK regulations applies where a person has a connection to the UK.