UN Financial Sanctions in Vanuatu
Vanuatu has enacted the United Nations Financial Sanctions Act to implement UN Security Council obligations, prevent terrorism financing, and prohibit dealings with designated persons and entities.
Important Notice
All financial institutions and reporting entities in Vanuatu must comply with UN financial sanctions and screen their customers and transactions against UN sanctions lists.
Last updated: June 2024
Overview
The UN Financial Sanctions regime applies measures decided by the UN Security Council, including asset freezes and prohibitions on providing funds or financial services to designated persons, entities, and groups.
Who must comply?
All financial institutions, DNFBPs and other reporting entities operating in Vanuatu are required to screen their customers and transactions against the relevant UN sanctions lists and implement freezing measures where required.
What does compliance involve?
- Screening customers and beneficial owners against UN sanctions lists.
- Freezing assets of any listed person or entity without delay.
- Rejecting or blocking transactions involving listed persons or entities.
- Reporting any positive matches or attempted transactions to the FIU immediately.
Reporting obligations
If a reporting entity identifies a customer, beneficial owner, or transaction that matches a UN-listed person or entity, it must:
- Immediately freeze any funds or other assets under its control.
- Refrain from making any funds or services available to the listed person or entity.
- Submit a report to the FIU with full details of the match and action taken.
Reports can be submitted to the FIU via this system or other channels specified by the FIU.
Current UN Sanctions Lists
Use the official UN Security Council lists below to screen your customers and transactions.
Current FIU Sanctions List
Use the official FIU list below to screen your customers and transactions.