The Guernsey Financial Services Commission published a cyber sanctions notice advising that the consolidated list has been updated to correct the details of 19 entries, comprising 18 individuals and the 161st Specialist Training Centre (TsPS). The entries remain designated under the United Kingdom Cyber (Sanctions) (EU Exit) Regulations 2020, which are implemented in the Bailiwick of Guernsey under local Brexit regulations made under the Sanctions (Bailiwick of Guernsey) Law, 2018. Businesses are required to check for accounts or other relationships with any of the listed persons/entities and to freeze, with immediate effect where not already done, any funds, other assets or economic resources directly or indirectly owned, held or controlled by them, including jointly held assets and property derived from such funds. Firms must also avoid making funds or economic resources available, directly or indirectly, to designated persons, entities they own or control, or persons acting on their behalf or at their direction, except where a permitted derogation applies or a licence has been granted, and must comply with the reporting obligations in section 14 of the Sanctions Law. Any relevant findings must be reported immediately to the States of Guernsey Policy & Resources Committee, and regulated firms must then report to the Commission under Handbook Rule 12.37 with specified minimum information on the sanctioned link and the nature and value of the relationship or transaction.

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