Consolidated United Nations Security Council Sanctions List

February 12, 2015

NBFIRA 1/2/5-I (9) 

To: Principal Officers- Non-Bank Financial Institutions (“NBFI’s”)

Dear Sirs/Madams,

CONSOLIDATED UNITED NATIONS SECURITY COUNCIL SANCTIONS LIST

1. We refer to the captioned subject matter.

2. Botswana has an obligation to support international efforts to prevent, suppress and disrupt proliferations of weapons of mass destruction and the financing of terrorism.

3. NBFI’s are therefore required to verify whether they maintain any accounts and/or relationships, conduct business with or otherwise hold any fund, other financial assets, economic benefits and economic resources for individuals, entities or other groups designated by the UNSCR. NBFI’s are also required to take necessary actions and immediately report to the Financial Intelligence Agency any link found with the reported individuals, entities or other groups.

4. The Consolidated United Nations Security Council lists can be found at the following websites; - http://www.un.org/sc/committees/1267/aq_sanctions_list.shtml; and - http://www.un.org/press/en/2015/sc11948.doc.htm

5. In addition to the above lists, kindly view the Financial Action Task Force (“FATF”) website at http://www.fatf-gafi.org/countries/#high-risk for updates on high risk and non-co-operative jurisdictions. NBFI’s are required to apply enhanced due diligence to business relationships and transactions with individuals, entities and other groups from high risk jurisdictions.

6. Kindly note that whilst NBFIRA will at all times circulate updates to the above stated lists, NBFI’s have the responsibility to continuously and timeously familiarize themselves with updates made by the UNSCR and FATF in the websites provided.

7. An NBFI that provides products or services to the listed individuals, entities and other groups as a result of failing to implement adequate screening measures not only commits an offence in accordance with section 9 (3) of the Financial Intelligence Act but also exposes itself to an extremely high risk of Terrorist Financing and/or advancing weapons proliferation objectives.

8. For any clarity on the above, kindly contact your respective regulatory departments at 310 2595 or 368 6100.

Yours faithfully

Sriram Gade (Mr)

DEPUTY CHIEF EXECUTIVE OFFICER- REGULATORY