freezing of assets

Freezing of economic and financial assets

Article 2 Freezing of assets and economic resources

SR III. Freezing and confiscating terrorist assets

The fight against terrorist financing freezing and seizing of assets

Right to property compilation of lists and freezing the assets of terrorist persons

Right to property compilation of lists and freezing the assets of terrorist persons 62 65 21

Of these, 25 have reported finding and freezing assets and 13 have reported that they have not located any assets subject to the measures.

(b) Freezing of assets means preventing any action allowing the management or use of assets other than normal administrative actions carried out by financial institutions

A designation results in the freezing of all assets (Terrorism Suppression Act, sects. 20 23 and 31).

Assets may not be provided to persons, enterprises and entities covered by the freezing of assets, and assets and economic resources may not be made available to them directly or indirectly.

The adoption of another Council regulation (regarding the freezing of assets and related measures) is still being considered.

By freezing Iranian assets outside of Iran, the UN was hitting the IRGC where it hurt, in its pocketbook.

There are mechanisms enabling the freezing of funds, assets and other financial resources in accordance with resolution 1455 (2003).

The provisions of the Anti Money Laundering Act (2005) pertaining to the freezing of assets are yet to be invoked.

Between 30 January 2004 and 30 June 2005, six States reported freezing assets, all of which were found in bank accounts.

Third, the remaining countries tend primarily to utilize the criminal code as a prerequisite for listing and freezing assets.

The identification and freezing of the assets of persons and groups involved in terrorism are appropriate and necessary measures to combat terrorism.

Section 21 of the Act provides details of directives that may be given by the court in making a freezing of assets order.

Additionally, resolution 1390 (2002) requires the freezing of funds and other financial assets without delay , but practical considerations may make this difficult.

Also often lacking are the expertise and capacity required to combat money laundering successfully, including by the freezing, seizure and confiscation of criminal assets.

Also often missing are the expertise and capacity required to successfully combat money laundering, including by the freezing, seizure and confiscation of criminal assets.

A new law on money laundering was adopted in late 2004, and new laws on the freezing and confiscation of assets are under consideration.

The international community should also adopt protective measures, including the freezing of assets and a travel ban for high ranking officials of the Ugandan oligarchy.

In fact, one State has reported freezing bank accounts of individuals not on the Consolidated List, but who held assets on behalf of listed persons.

In addition the freezing of the assets of Albarakat, the major banking institution, had impeded remittances and economic activity and had yet to be lifted.

Another State requires banks and other relevant bodies to report to the authorities within 10 days of freezing the assets of listed individuals and entities.

Resolution 1596 also provides that those who violate the embargo shall be subject to a travel ban and to a freezing of their financial assets.

Thirty two Member States have reported freezing assets of listed individuals and entities worth in total over 91 million (five have not specified the amounts).

(f) The right to property should also be protected when establishing and implementing measures against terrorist property, particularly involving the freezing and confiscation of assets.

The domestic legal basis for freezing the assets of suspected or convicted money launderers is contained in Section 21 of the Anti Money Laundering Act, 2005.

It should also be noted that, in accordance with the country's constitutional principles, the freezing of any assets requires a decision by a competent judicial authority.

As well as the clear identification of the individual or entity subject to the measures, a full address is also a key to effective assets freezing.

That would permit the further enhancement and strengthening of existing sanctions travel bans, the freezing of assets and arms embargoes and of lists of targeted individuals and entities.

Article 2 of the ordinance provides for a freezing of assets and economic resources (including the ban on making assets or economic resources available to the persons or entities covered) in accordance with paragraph 3 (e) of resolution 1591 (2005).

Measures under the Law on Measures against the Financing of Terrorism (LMFT) include freezing of funds and other financial assets or economic resources, and ban on the access to financial services, funds and other financial assets or economic resources available.

Once individuals and entities are placed on the Consolidated List, they are added to a schedule attached to the regulations, which requires the freezing of their assets.

The necessary legal initiatives have included criminalization of terrorism offences, establishment of mechanisms for freezing and seizing terrorist assets and provision for various modalities of international cooperation against terrorism.

What legislation and procedures exist for freezing accounts and assets at banks and financial institutions? It would be helpful if States supplied examples of any relevant action taken.

Presently States are not required to update the Committee on enforcement of the measures against new designations, but five States have reported freezing additional assets since January 2004.

We support the measures taken to eradicate all forms of financing of terrorism, including the freezing of assets and goods used in terrorist activities, the monitoring of flows of such assets, and their seizure and confiscation in accordance with legal rules created for that purpose

Kuwait was committed to implementing the provisions of resolution 1267 (1999) on freezing funds and assets of individuals or entities on the related consolidated list, although it wished to point out the problem of confusion of names, which sometimes resulted in the freezing of funds of individuals with no connection to terrorism.

I'm freezing.

There are those who question the usefulness of action to freeze assets, arguing that amounts frozen are small and not commensurate with the effort involved in implementing the freezing measures.

One Member State said that as a result of the freezing of the assets of the listed entity Al Barakaat, unlisted depositors could not gain access to their savings or uncollected remittances.