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Frozen funds held or controlled by financial institutions are required to be reported
to the Office of Financial Sanctions Implementation (OFSI) on an annual basis in aggregate.
Licence applications are made to OFSI to permit applicants to deal with frozen assets,
including to release frozen funds and for designated persons to receive funds in particular
circumstances and for a specific purpose. Where licensing applications relate to the
release of frozen funds, breakdowns of the sources of those funds are not required
as part of the application. Similarly, when the release of frozen funds is authorised,
the source of the funds is not specified beyond details about the payment route<p
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