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Sanctions and anti-money laundering bill: a crucial step for NGOs and developing countries

last modified May 30, 2018 08:33 AM
The parliament passed a bill in May that gives the UK government new powers to respond to gross violations of human rights overseas, which in turn could have a positive impact on development and humanitarian work in development countries.

Summary of the Sanctions and Anti-Money Laundering Act 2018

A bill to make provision enabling sanctions to be imposed where appropriate for the purposes of compliance with United Nations obligations or other international obligations or for the purposes of furthering the prevention of terrorism or for the purposes of national security or international peace and security or for the purposes of furthering foreign policy objectives; to make provision for the purposes of the detection, investigation and prevention of money laundering and terrorist financing and for the purposes of implementing Standards published by the Financial Action Task Force relating to combating threats to the integrity of the international financial system; and for connected purposes.

Rowan Popplewell comments on the BOND website

At first glance, it is a dry, technical piece of legislation, but it has the potential to make a real difference to the lives of millions of people around the world. This is because the bill:

  • Enables the UK to issue sanctions in response to gross human rights violations through the introduction of a so-called Magnitsky clause.
  • Makes it easier for NGOs to deliver humanitarian aid and resolve conflicts in countries such as Syria and Yemen by giving the government the power to issue exceptions and general licenses for actions that may otherwise be subject to sanctions.
  • Reduces money laundering and tax avoidance in British Overseas Territories through the introduction of public registers of beneficial ownership.

Please find the source article here.




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