UK Sanctions / Crown Dependencies — Beneficial Ownership Registers (Sanctions and AML Act 2018)

Summary

The Sanctions and Anti-Money Laundering Act 2018 is the primary UK sanctions authority post-Brexit. It also enables the UK to require Crown Dependencies and Overseas Territories to establish public beneficial ownership registers. This creates a framework to trace assets held by Sri Lankan officials in offshore jurisdictions linked to the UK.

Relevance to the diaspora

Tamil diaspora accountability advocates can use SAMLA and associated BVI/Cayman Islands beneficial ownership information to trace assets of Sri Lankan officials connected to war crimes; such asset tracing supports Magnitsky designation requests and unexplained wealth order applications.

Key provisions

• s.1 — power to make sanctions regulations
• s.40 — power to require Crown Dependencies to establish beneficial ownership registers
• s.44 — review and reporting of sanctions regimes
• Schedule 1 — purposes for which sanctions may be imposed

Primary source

Related entries

• → Global Human Rights Sanctions Regulations 2020 (UK Magnitsky) (UK)
• → Criminal Finances Act 2017 / Unexplained Wealth Orders (UK)
• → Proceeds of Crime Act 2002 (UK)