PHI FIU Targeted Financial Sanctions
On Feb. 21, PHI FIU issued resolution on penalties for ATC.
- PHI FIU issued resolution no. TF-35, series of 2021, to implement necessary targeted financial sanctions (TFS) on designations made by the anti-terrorism council (ATC).
- Repeals resolution TF-01, TF-02, series of 2012; previous freeze orders will continue but will now be based on the anti-terrorism act of 2020 and ATC resolution no. 10.
- Directs all covered persons and government agencies to freeze funds and other assets that are owned or controlled by the entities designated in the UN consolidated list.
- Those who deal with property or funds owned or controlled by a designated entities, or makes available property or funds to designated entities, will be criminally charged.
- Resolution is effective upon completion of its publication.
||Res TF-35, PR 2/21/2021
||AML; Financial; Reporting; Risk
||Banking; Corporate; Loan
|Reg. Last Update
Last substantive update on 02/23/2021