Search Document

Document detail

FinancialSanctions-01May2025_1746109351.pdf

The Cayman Islands Monetary Authority (CIMA) has received a new Notice from the Office of Financial Sanctions Implementation, HM Treasury (OFSI), regarding financial sanctions on Russia. Key points:

Additions or amendments to the Consolidated List:
- Check for accounts or funds tied to designated persons
- Freeze such accounts and refrain from dealing with them unless licensed by the Governor
- Report findings to the Financial Reporting Authority (FRA)
Removal of a person from the Consolidated List:
- Verify that assets are no longer subject to an asset freeze
- Un-freeze assets and re-activate relevant accounts
- Advise FRA of actions taken
Failure to comply with financial sanctions legislation is a criminal offense

Note: The individual listed, Albert Kashafovich Shigabutdinov (RUS1658), was involved in obtaining benefits from or supporting the Government of Russia through his work as a director or manager of the TAIF Group.

Published: 2025-05-01 · Source: CIMA

Need more info or need a demo?

Although we are a tech company, we pride ourselves on being traditional and committed to a personal approach. We visit our clients to present our solutions or send brochures directly to you. Please write to us at [email protected] with your availability and contact details.

We're on a mission to unburden compliance teams from the complexities and workload in the domain of bank, insurance, and crypto compliance. This is achieved by helping them navigate through the vast amount of documents issued by regulators.

Search Document

Document detail

FinancialSanctions-01May2025_1746109351.pdf

Hold up 👀

Need more info or need a demo?