Central Bank reminds business groups of Russian sanctions obligations

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.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Central Bank reminds business groups on Russian sanctions obligationsRegulator declines to give update on the extent of sanction-linked assets that have been frozen in the State. via IrishTimesBiz
Source: IrishTimesBiz - 🏆 6. / 77 Read more »

Central Bank reminds business groups on Russian sanctions obligationsRegulator declines to give update on the extent of sanction-linked assets that have been frozen in the State. via IrishTimesBiz
Source: IrishTimesBiz - 🏆 6. / 77 Read more »

Makhlouf: Banks’ exit could signal ‘rightsizing’ of retail banking marketThe departure of Ulster Bank and KBC Bank Ireland could represent the “rightsizing” of the Irish retail banking market, Gabriel Makhlouf told reporters last week.
Source: businessposthq - 🏆 8. / 71 Read more »