For the purpose of complying with Part VIA of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 and Part VII of the Securities Commission’s Guidelines on Prevention of Money Laundering and Terrorism Financing for Capital Market Guidelines (The Guidelines), reporting institution should regularly check the United Nations Security Council (UNSC) Resolution 1267/1989 (Al Qaida), United Nations Security Council (UNSC) Resolution 1988 (Taliban) and the UNSC Resolution 1373 to determine if there is any name under the Resolutions that match with its customers (be it potential, new or existing).
When a reporting institution discovers a name match, the reporting institution must take appropriate measures as provided under Paragraph 14.4 of the Guidelines including freezing without delay, any name match as published under the Orders issued by the Ministry of Home Affairs (MOHA Orders) pursuant to Sections 66B(1) and Section 66C(1) of the AMLATFPUAA.
Pursuant to the MOHA Orders, the reporting institution is required to update the Securities Commission in relation to the frozen property at an interval of six months. For ease of reference the links to the UNSC Resolutions and Orders published by the Minister of Home Affairs are as provided below:-
- The links to the UNSC Consolidated List can be found here:
- UNSC Resolution 1267/1989 (Al Qaida) http://www.un.org/sc/committees/1267/aq_sanctions_list.shtml (This link is the replication of the link found under Paragraph 14.2 of the Guidelines)
- UNSC Resolution 1988 (Taliban) http://www.un.org/sc/committees/1988/list.shtml
- The Order published in the Gazette under Sections 66B(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA) by the Minister of Home Affairs is as follows:-
- Anti-Money Laundering and Anti-Terrorism Financing (Declaration of Specified Entities and Reporting Requirements) Order 2014
- The Orders published in the Gazette under Section 66C(1) of Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA) by the Minister of Home Affairs are as follows:-
- Anti-Money Laundering and Anti-Terrorism Financing (Security Council Resolutions) (Al-Qaida and Taliban) Order 2011
Anti-Money Laundering and Anti-Terrorism Financing (Security Council Resolutions) (Al-Qaida and Taliban) (Amendment) Order 2013
Anti-Money Laundering and Anti-Terrorism Financing (Security Council Resolutions) (Al-Qaida and Taliban) (Amendment) Order 2014
