Quarterly report to Parliament: 1 July 2020 to 30 September 2020 (‘TAFA 2010’)
Published 19 January 2021
Written Ministerial Statement
Operation of the UK’s Counter-Terrorist Asset Freezing Regime: 1 July 2020 to 30 September 2020
The Economic Secretary to the Treasury (John Glen): Under the Terrorist Asset-Freezing etc. Act 2010 (TAFA 2010), the Treasury is required to prepare a quarterly report regarding its exercise of the powers conferred on it by Part 1 of TAFA 2010. This written statement satisfies that requirement for the period 1 July 2020 to 30 September 2020.
This report also covers the UK’s implementation of the UN’s ISIL (Da’esh) and Al-Qaida asset freezing regime (ISIL-AQ), and the operation of the EU’s asset freezing regime under EU Regulation (EC) 2580/2001 concerning external terrorist threats to the EU (also referred to as the CP 931 regime), for the same period (1 July 2020 – 30 September 2020).
Under the ISIL-AQ asset freezing regime, the UN has responsibility for designations and the Treasury, through the Office of Financial Sanctions Implementation (OFSI), has responsibility for licensing and compliance with the regime in the UK under the ISIL (Da’esh) and Al-Qaida (Asset-Freezing) Regulations 2011.
Under EU Regulation 2580/2001, the EU has responsibility for designations and, while the UK was a member of the EU and throughout the Transition Period, OFSI had responsibility for licensing and compliance with the regime in the UK under Part 1 of TAFA 2010.
EU Regulation (2016/1686) was implemented on 22 September 2016. This permits the EU to make autonomous Al-Qaida and ISIL (Da’esh) listings.
UK Sanctions following the end of the Transition Period
Since the Transition Period ended at 11:00pm on 31 December 2020, the UK no longer applies EU sanctions regulations and all sanctions regimes will be implemented through UK regulations. The Sanctions and Anti-Money Laundering Act 2018 (the Sanctions Act) provides the legal framework for the UK to impose, update and lift sanctions autonomously. Information on the three new Counter-Terrorism Sanctions regimes can be foundvia this link.
These new sanction regimes ensure that the UK implements its international obligations under UN Security Council Resolution 1373 and give effect to the UK’s obligations under UN Security Council Resolution 2368.
There will be a final Quarterly Report to Parliament on the UK’s Terrorist Asset Freezing Regime, covering the period 1 October 2020 – 31 December 2020, which will be released in due course.
The following tables set out the key asset-freezing activity in the UK during the quarter.
EU Reg (EC) 2580/2001
ISIL-AQ regime EU Reg 881/2002
EU Reg 2016/1686
Total funds frozen (GBP equivalent at the end of the quarter)