A regulation has been adopted in Uzbekistan on procedure of suspending transactions, freezing monetary funds or other assets, providing access to frozen assets and resumption of transactions of persons, included to the list of persons, who were engaged or suspected to be engaged in acts of terrorism or proliferation of arms of mass destruction.
The Prosecutor-General's Office of Uzbekistan has approved the regulation, which will come into force from 17 January 2017, Norma.uz said.
The document notes that it is prohibited for natural and legal persons in the territory of Uzbekistan to provide direct or indirect access to monetary funds and other property, material resources, financial services and other services to people, included in the list of persons, who were engaged or suspected to be engaged in acts of terrorism or proliferation of arms of mass destruction, or to persons, who act on behalf of persons in the list.
The list shall be formed by the Department against tax, financial crimes and legalization of proceeds of criminal activity under the Prosecutor-General’s Office of Uzbekistan, and shall be based on information, received by the state bodies, fighting terrorism, and other relevant authorities bodies, as well as information, obtained from foreign bodies and international organizations.
The list will be distributed among relevant state bodies and published on the website of the department.
Entities, conducting transactions with monetary funds or other property, must verify whether parties to a transaction are included in the above list and shall suspend the transaction and inform the department about it.
The document also regulates such matters as resumption of transactions, removing persons from the list, and others.