Newsletter 178 from February 18, 2011 International Sanction

Amendment to the Appendix to the Ordinance on Sanctions against Certain Persons from the Arab Republic of Egypt

The Federal Department of Foreign Affairs (FDFA) amended the Appendix to the Ordinance on Sanctions against Certain Persons from the Arab Republic of Egypt (SR 946.231.132.1) on 16 February 2011. 2 entries were added. This Ordinance came into force on 16 February 2011. The Ordinance is available for consultation in the official Compendium of Federal Law. 

In accordance with the provisions of the Ordinance on Sanctions against Certain Persons from the Arab Republic of Egypt, financial intermediaries are requested to report relevant business relationships to the Directorate of International Law (DIL) of the Federal Department of Foreign Affairs (FDFA), and to block the associated assets. Reporting to the DIL does not release the financial intermediary from its obligation to immediately report to the Reporting Center for Money Laundering in accordance with Article 9 of the Money Laundering Act.