This news release is issued to publicise the amendment of 1 entry under the Cyber Sanctions Regime but remain on the consolidated list under the Russia financial sanctions regime.
The Cyber (Sanctions) (EU Exit) Regulations 2020 (S.I. 2020/597) were made under the Sanctions and Anti-Money Laundering Act 2018 (the Sanctions Act) and provide for the freezing of funds and economic resources of certain persons, entities or bodies conducting or directing cyber activity that undermines, or is intended to undermine, the integrity, prosperity or security of the United Kingdom or a country other than the United Kingdom; international organisations; and non-governmental organisations whose purposes relate to the governance of international sport or the Internet. The Cyber (Sanctions) (EU Exit) Regulations 2020 (SI 2020/597) have effect in the Isle of Man by the Cyber Sanctions (Application) Regulations 2020 [SD 2020/0451].
On 06 April 2023 the Foreign, Commonwealth and Development Office updated the UK Sanctions List. This list provides details of those designated under sanctions legislation.
AMENDMENT
Deleted information appears in [square brackets]. Additional information appears in italics.
The following entry has been amended and is still subject to an asset freeze:
- Vitaliy Nikolayevich KOVALEV (Group ID: 15742)
DOB: 23/06/1988. a.k.a: (1) BEN (2) BENTLEY [[HISTORICAL USE OF]] (3) KOVALEV, Vitaly Nationality: Russia Other Information: The ‘Bentley’ alias is for historical use of the moniker. (UK Sanctions List Ref):CYB0027. (UK Statement of Reasons):Vitaliy Nikolayevich KOVALEV is or has been involved in relevant cyber activity, including being responsible for, engaging in, providing support for, or promoting the commission, planning or preparation of relevant cyber activity; and providing technical assistance that could contribute to relevant cyber activity, namely ransomware attacks which were intended to undermine the integrity, prosperity and security of the United Kingdom and other countries, and were intended to cause economic loss to, or prejudice the commercial interests of, those companies affected by the activity. Listed on: 09/02/2023 UK Sanctions List Date Designated: 09/02/2023 Last Updated: [09/02/2023] 06/04/2023 Group ID: 15742.
What you must do
Financial institutions and other persons are required to check whether you maintain any accounts or otherwise hold funds or economic resources for, or provide financial services to, designated individuals. If so, you must freeze such accounts or other funds and, unless licensed by the Treasury, not deal with those funds or economic resources, make those funds or economic resources available to a designated person, or make those funds or economic resources available for the benefit of a designated person. You must also report your findings to the FIU.
Failure to comply with financial and trade sanctions legislation or to attempting to circumvent its provisions is a criminal offence.
Where a relevant institution has already reported details of accounts, other funds or economic resources held frozen for the designated person, you are not required to report these details again.
Further Information
Consequently the Foreign, Commonwealth and Development Office updated the Consolidated List. This list provides details of those designated under sanctions legislation.
Further details of the sanctions regime related to Cyber and links to other financial sanctions regimes may be found on the Customs and Excise pages of the Isle of Man Government website.
