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Financial Sanctions against Zimbabwe

23 December 2008

What’s new?

The Reserve Bank of Australia has released information regarding amendments to the financial sanctions against certain persons associated with the Mugabe regime in Zimbabwe.

The Australian Government has reviewed the list of persons subject to financial sanctions and removed 4 persons and added 75 new persons and 4 entities. Amendments have also been made to 16 entries on the previous list.

Transactions involving the transfer of funds or payments to any of the names on this list are prohibited without the specific approval of the Reserve Bank of Australia.

How does this apply to you?

It is important that you use the updated version of the financial sanctions list during your customer identification process.

The consolidated list can be located on the Reserve Bank website here: www.rba.gov.au - Financial Sanctions Cash Reporting

For further information:

Certainty Compliance can assist you with all your AML/CTF obligations. Please contact a Consultant on (02) 9238 8091 or enquiries@certaintycompliance.com.au