Customs and Excise on the Island has issued an amendment to the Terrorist Asset-Freezing Act 2010 with relation to Hizballah
The changes relate to the military wing and external security organisation of Shia Islamic militant group and any of its listings in the UK or EU.
Financial institutions and any other interested parties are requested to check whether they maintain any accounts, hold funds or any other economic resources for Hizballah.
If so, they must freeze such accounts or other funds and stop the provision of any financial services unless licensed by Treasury.
They must also report their findings to the sanctions officer at the Customs and Excise Division of Treasury.
Further details of the sanctions regime related to Terrorism and links to the Consolidated List of individuals and entities subject to other financial sanctions regimes may be found on the pages of the Isle of Man Government website.
Customs and Excise
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