FSA/PN/125/2001
25/09/2001

The US President, George W Bush, yesterday issued an Order targeting terrorists and blocking the accounts of a number of organisations and individuals. A list of those identified in the Order, published by the US Office of Foreign Assets Controls (OFAC) is attached.

The FSA is reminding the firms it regulates to check their records for those named by OFAC.

Carol Sergeant, Managing Director of Regulatory Processes and Risk at the FSA, said:

"As with the names of suspected terrorists published recently by the FBI, it is important that all firms should review any dealings with the individuals and entities named by OFAC, if they have not already done so. Under money laundering and anti-terrorism legislation, firms need to ensure all necessary suspicious transaction reports have been made to the National Criminal Intelligence Service in the usual way."

Notes for editors

  1. The list published by OFAC is attached or can be located at the OFAC website at www.treas.gov/ofac.

  2. On 20 September, the FSA circulated the FBI's list of subjects allegedly connected with the terrorist attacks in US. They [the FSA] reminded regulated firms that they should check their records for names of alleged subjects under investigation by the FBI and were also reminded of their general legal obligations to report suspicious transactions.

  3. Details of the FBI's list of alleged suspects is available from the FSA's website http://www.fsa.gov.uk or the FBI's website www.fbi.gov.

  4. As previously reported, the Bank of England has also written to banks in the UK reminding them of the long-standing financial sanctions imposed by the United Nations against the Taliban, Usama Bin Laden or anyone acting on their behalf.

  5. Details of the sanctions against those connected to the Taliban are available from the Bank of England's website www.bankofengland.co.uk.

  6. The FSA is the principal regulator of the UK financial services industry and has four objectives under the Financial Services and Markets Act 2000: maintaining market confidence; promoting public understanding of the financial system; the protection of consumers; and fighting financial crime.

  7. The FSA aims to maintain efficient, orderly and clean financial markets and help retail consumers achieve a fair deal.

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