9 July 2004
To: Chief Executive of all authorized insurance institutions
carrying on long term business
Dear Sir/Madam,
Non-cooperative Countries and Territories ("NCCTs")
The Financial Action Task Force on Money Laundering ("FATF") has recently removed Guatemala from the list of NCCTs having regard to the progress it made in improving its anti-money laundering regime. Jurisdictions remaining on the list of NCCTs are Cook Islands, Indonesia, Myanmar, Nauru, Nigeria and the Philippines. You are advised to continue to give special attention to businesses and transactions with persons, including companies and financial institutions, in the remaining six NCCTs, particularly Myanmar and Nauru which are still subject to counter-measures, in accordance with FATF Recommendation 21(Note). The related FATF press release can be found on its homepage (http://www1.oecd.org/fatf/).
(Note) Recommendation 21 : Financial institutions should give special attention to business relations and transactions with persons, including companies and financial institutions, from countries which do not or insufficiently apply the FATF Recommendations. Whenever these transactions have no apparent economic or visible lawful purpose, their background and purpose should, as far as possible, be examined, the findings established in writing, and be available to help competent authorities. Where such a country continues not to apply or insufficiently applies the FATF Recommendations, countries should be able to apply appropriate countermeasures.
United Nations (Anti-Terrorism Measures) Ordinance ("Ordinance"),
United Nations Sanctions (Afghanistan) Regulation ("Regulation") &
United States Executive Order 13224 ("Executive Order")
Further to my letter of 16 April 2004 , I am writing to advise you that an updated list of names designated by the relevant United Nations Security Council Committee was published in the Gazette (G.N. 3362 and G.N. 4164) on 28 May 2004 and 2 July 2004 in accordance with the Ordinance and the Regulation respectively. The new list is available on the Government website (www.gld.gov.hk/egazette/) under Gazette: Government Notice published on 28 May 2004 and 2 July 2004. To facilitate the update of your electronic database, a copy of the list in MS Word format is also available on the Insurance Authority's website (www.info.gov.hk/oci/framework/index04.htm).
Compared with the names advised in my letter of 16 April 2004, the following names of individuals and entities have been added to the new list :
Part C (Individuals belonging to or associated with the Al-Qaida organization)
Hacene ALLANE (item 39)
Kamel DJERMANE (item 70)
Dhou EL-AICH (item 74)
Ahmad ZERFAOUI (item 166)
Part D (Entities belonging to or associated with the Al-Qaida organization)
Al Furqan (item 17)
Taibah International-Bosnia Offices (item 99)
In addition, information on the following individuals and entities has been updated :-
Part C (Individuals belonging to or associated with the Al-Qaida organization)
Zulkepli BIN MARZUKI (item 64)
Yazid SUFAAT (item 147)
Part D (Entities belonging to or associated with the Al-Qaida organization)
Ansar AL-ISLAM (item 31)
Meanwhile, the US Government has designated additional names under the Executive Order. The information can be found in the website of the Office of Foreign Assets Control of the US Treasury (www.ustreas.gov/offices/eotffc/ofac/sanctions/terrorism.html) under the heading of "Names of Individuals Designated on 23 June 2004".
You should review your records carefully to see whether you have had, or currently have, accounts, transactions or dealings with the named individuals or entities. If such review reveals any suspicious accounts, transactions or dealings, you should promptly notify the Joint Financial Intelligence Unit. You are also reminded to browse the above websites regularly for the latest information.
Should you have any enquiries, please contact Mr. William Hsieh at 2867 4529 or Miss Connie Cheng at 2867 4815.
Yours sincerely,
(Ros K. T. Lam)
for Commissioner of Insurance
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