Regulator declines to give update on the extent of sanction-linked assets that have been frozen in the StateMon Jun 20 2022 - 13:02
“It is vitally important that Ireland plays its part in the effective implementation of sanctions to ensure that the sanctions achieve their desired goal,” said Seána Cunningham, director of enforcement and anti-money laundering at the Central Bank. It is a criminal offence not to report sanction breaches, or suspected breaches, to An Garda Síochána.
If a business or individual is in possession or control of funds or economic resources of a person or entity that is subject to a financial sanction, they must freeze these and report the matter to the Central Bank through a special sanctions return form.
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