Sanction regime
Sanction regime
Screening
For client due diligence as well as reporting purposes, reporting entities are required to consult sanction lists containing individuals, entities and legal persons, which are subject to freezing measures. A distinction is made between the United Nations Security Council Resolutions containing sanctions (UN lists) and the European Union (EU) sanction lists.
The UN, the EU and the national (Aruban) sanction lists are accessible through consolidated lists. Below you will find the links to these consolidated lists:
- United Nations Security Council sanction list: United Nations Security Council Consolidated List | United Nations Security Council
- European Union consolidated sanction lists can be accessed in the following ways:
- The official consolidated EU sanction list is provided in the link to the PDF-file below: https://webgate.ec.europa.eu/europeaid/fsd/fsf/public/files/pdfFullSanctionsList/content?token=dG9rZW4tMjAxNw
- Signing up to the website listed below, which also provides de EU sanction lists in various file types often used by screening software for automatic screening purposes (you will be required to create an account): https://webgate.ec.europa.eu/europeaid/fsd/fsf#!/filesd-list-of-sanctions_en
- National (Aruban) sanction list:
- EU Council Regulation (EC) No 2580/2001 of 27 December 2001 on specific restrictive measures directed against certain persons and entities with a view to combating terrorism: http://data.europa.eu/eli/reg/2001/2580/2022-04-13
- EU Council Common Position of 27 December 2001 on the application of specific measures to combat terrorism (2001/931/CFSP): http://data.europa.eu/eli/compos/2001/931/2017-11-15
Objective Unusual Transaction Reporting (indicator 130102)
Article 2, paragraph 1, section b, of the Regulation Indicators Unusual Transactions provides that reporting entities are required to report transactions performed by or for the benefit of natural persons, legal persons, groups and entities which are listed on a:
Sanctions State Ordinance 2006 (AB 2007 no.24) accepted list:
The ISIL (Da’esh) & Al-Qaida Sanction List, and the UN Taliban List.
List designated by the head of FIU-Aruba:
These lists usually concern updates to the national (Aruban) sanction list and EU sanction lists. The FIU also designates lists based on several factors, e.g. by applying an anti-money laundering, counter-terrorist financing and counter proliferation financing (AML/CFT/CPF) risk-based approach. Furthermore, national developments in the sanctions regime as well as international developments that (might) directly affect Aruba are considered relevant factors when determining whether to designate a sanction list.
Overview of the designated lists by the Head of FIU-Aruba:
- Consolidated List UNSC (Aanwijzing geconsolideerde lijst VNSC)
- National Sanction List (Aanwijzing Nationale Sanctielijst)
- EU Sanctions Freezing Measures (Aanwijzing EU Sancties bevriezingsmaatregelen)
- Sanction Decree Human Rights Violations (Aanwijzing Sanctiebesluit mensenrechtenschendingen)
- Sanction Decree Iran (Aanwijzing Sanctiebesluit Iran)
- Sanction Decree Chemical Weapons (Aanwijzing Sanctiebesluit chemische wapens)
- Interim Sanction Decree Priority Sanction Regimes (Aanwijzing Interim-landsbesluit prioritaire sanctieregimes)
- Amendment to Annex I of the Sanction Decree Priority Sanction Regimes to include Haiti and Moldova (AB 2023 no.63)
- Sanction Decree Priority Sanction Regimes: Inclusion of a humanitarian exemption and an amendment to Annex I to include Sudan and Niger (AB2024 no.17)
- Sudan and South-Sudan (Aanwijzing Sudan en Zuid-Sudan)
- Democratic People’s Republic of Korea (DPRK):
- EU Regulation (EC) no. 329/2007 (Aanwijzing Verordening 329 2007 DVK)
- EU Council Decision (CFSP) 2016/849 (Aanwijzing Besluit GBVB 2016 849 DVK)
Subjective Unusual Transaction Reporting (indicator 130201/130202)
When a person, legal person, group or entity is not listed on a sanction list for which objective reporting is required but is listed on another sanction list, the service provider must decide, based on the available red flags, whether the transaction should be reported subjectively.
Keep in mind that a listing on a sanction list is considered a strong indication of the unusual character of a transaction.
Subjective reporting of an unusual transaction is done under the indicators:
- money laundering: indicator 130201
- terrorist financing: indicator 130202
- proliferation financing: indicator 130202 (Instruction: Unusual Transaction Reporting Proliferation Financing / in Dutch: Voorschrift: Melden Ongebruikelijke Transacties Proliferatiefinanciering)
Guidance on reporting unusual transactions in relation to sanctions
A more in depth explanation on the reporting obligation of unusual transactions in relation to sanctions is provided in the document Sancties en de Meldplicht: Uitleg in Begrijpelijke Taal. More information is also provided on how sanction evasion can be detected.
