National financial sanctions
National list of terrorist suspects whose assets have been frozen
The Resolution 1373 (2001) of the Security Council of the United Nations calls upon all States to proceed freezing the funds and economic assets of the persons and entities who commit, or attempt to commit terrorist acts.
Belgian authorities followed up this call and took steps to draw up a national terrorism list.
This national list contains the names of persons and entities suspected of terrorism and in respect of which freezing measures apply.
The National Security Council establishes and changes the national list. It is based on the assessment made by the Coordination Unit for Threat Analysis (CUTA), after consultation with the relevant support services and judicial authorities. The national list and any amendments to the list are approved by the Council of Ministers and published in the Belgian Official Journal by Royal Decree.
Obligations
1. FREEZING FUNDS AND PROHIBITION ON MAKING FUNDS AVAILABLE
In Belgium, everyone must comply with national financial sanctions.
In practical terms, this means that:
- Everyone is obliged to freeze the funds of these persons or entities.
- Everyone is prohibited from directly or indirectly making funds available to these persons or entities.
This freezing measure takes precedence over all contractual and other regulations that are incompatible with it.
The freezing applies not only to all funds and economic resources belonging to or owned by the persons and entities on the national list, but also to those in their possession or control.
2. COMMUNICATING INFORMATION AND COOPERATING IN THE VERIFICATION OF INFORMATION
Every person is required to transmit to the Treasury any information at its disposal which would facilitate the application of the financial restrictive measures. This includes data on any frozen accounts (account holder, account number, value of frozen funds), as well as other data that may be relevant, e.g. data on the identity of persons or entities on the national list and, where relevant, data on incoming transfers that credit a frozen account, attempts by customers or others to make funds or economic resources available without authorisation to a designated person or entity, and information that indicates that freezing measures are being circumvented.
Besides, every person is required to cooperate with the Treasury when checking information.
The implementation of embargoes and asset freezing must be carried out without delay as soon as they come into force and creates an obligation on everyone to achieve results. Mandatory notification of information relating to financial sanctions must be made on the initiative of the authorities as soon as a specific embargo measure is applied. It is recommended that negative verifications also be notified.
Information can be transmitted by e-mail to quesfinvragen.tf@minfin.fed.be or can be sent by post to the Minister of Finance, c/o General Administration of the Treasury, Avenue des Arts, 30, 1040 Brussels.
In case of non-compliance with the obligations, the law of May 11th 1995 provides for sanctions in case of infractions against national freezing measures.
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A question about the financial sanctions?
You can get in touch with the Treasury to communicate information or ask questions via the e-mail address quesfinvragen.tf@minfin.fed.be.