United Nations Al-Qaida and Taliban Regulations (UNAQTR) – Changes to Consolidated List

Document Properties

  • Type of Publication: Notice
  • Date: August 21, 2017

This notice is directed to the attention of all banks, authorized foreign banks, trust and loan companies, cooperative credit societies, life insurance companies, property and casualty insurance companies and fraternal benefit societies.

On August 18, 2017, the United Nations Security Council (UNSC) announced that the Al-Qaida Sanctions Committee approved the addition of one individual to its Consolidated List of individuals and entities (the List).  

Details of the amendments to the List are contained in the UNSC press release that can be viewed using the following link:

https://www.un.org/press/en/2017/sc12962.doc.htm

The tables posted on the OSFI Web site have been updated to incorporate the amendments, which have been bolded for ease of reference.

The UNAQTR require every federally regulated financial institution to review its records on a continuing basisFootnote 1 for the names of individuals or entities covered by the UNAQTR (Designated Persons) and:

  • Report immediately to the RCMP and CSIS (contact details below) any property of a Designated Person in its possession or control that has been frozen; and
  • Report monthly to the relevant regulator, which, in the case of federally regulated financial institutions, is the Office of the Superintendent of Financial Institutions (OSFI) on the aggregated value of frozen property in its possession.

Any findings based on the changes noted above must be included in reports to regulators due by September 15, 2017.

RCMP/CSIS contact information:

RCMP
Anti-Terrorist Financing Team
Unclassified fax: (613) 825-7030

CSIS
Financing Unit
Unclassified fax: (613) 369-2303

In addition, institutions reporting frozen property or assets to the RCMP and CSIS that are also reporting entities under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act are reminded that they are required to submit Terrorist Property Reports to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). For instructions related to the preparation and submission of Terrorist Property reports, please refer to the FINTRAC Web site at:

http://www.fintrac.gc.ca/publications/guide/Guide5/5-eng.asp

For assistance in complying with reporting requirements or to receive hard copies of notices, lists or OSFI reporting forms, please contact OSFI by e-mail: information@osfi-bsif.gc.ca.

This reminder is also being sent to the following for their information:

  • Provincial Regulators and Supervisors
  • Canadian Association of Direct Response Insurers
  • Canadian Bankers Association
  • Canadian Fraternal Association
  • Canadian Life and Health Insurance Association
  • Canadian Securities Administrators
  • Credit Union Central of Canada
  • Insurance Bureau of Canada
  • Investment Industry Regulatory Organization of Canada
  • Trust Companies Association of Canada

Footnotes

Footnote 1

OSFI interprets "review its records on a continuing basis" as a full search of the financial institution’s records at least weekly, and more frequently as necessary.

Return to footnote 1