Non-Cooperative Countries and Territories & List of names for suspicious account reporting

Our Ref: B10/1C

19 December 2006

The Chief Executive
All authorized institutions

Non-Cooperative Countries and Territories &
List of names for suspicious account reporting

I am writing to inform you of the latest developments in the following areas:

Non-Cooperative Countries and Territories (NCCTs)

The Financial Action Task Force on Money Laundering (FATF) decided at its October 2006 Plenary meeting to remove Myanmar from the list of NCCTs, having regard to the progress it has made in implementing its anti-money laundering system. As a result, there is at present no country or jurisdiction on the NCCT list. The related press release issued by the FATF on 16 October 2006 can be found on its homepage (http://www.fatf-gafi.org).

List of names for suspicious account reporting

US Executive Order

The US Government has recently added a number of individuals and entities to the list issued under the US Executive Order 13224. The relevant information can be found on the website of the Office of Foreign Assets Control of the US Treasury (http://www.ustreas.gov/offices/enforcement/ofac/programs/terror/terror.pdf) under the headings of "Names of individuals and entities designated on 6 December 2006" and "Names of individuals designated on 7 December 2006".

United Nations Sanctions Ordinance

An updated list of "relevant persons and entities" has been specified under section 36 of the United Nations Sanctions (Democratic Republic of the Congo) Regulation 2006. The list was published in the Gazette (G.N. 7724) on 8 December 2006.

The list of "relevant persons and entities" is available on the Government's website (http://www.info.gov.hk/eindex.htm). Copy of the list in MS Word format is also attached to facilitate updating of the information in your electronic database.

You are reminded to check the names contained in the above lists against your records and report any transactions or relationships you have or have had with the named individuals or entities to the Joint Financial Intelligence Unit and the HKMA. You are also reminded to browse the above websites regularly for the latest information.

Yours faithfully,

William A. Ryback
Deputy Chief Executive

Encl. United Nations Sanctions Ordinance (Cap. 537)