The Anti-terrorism (Financial and Other Measures) (Overseas Territories) Order 2002 (SI 2002 No. 1822)

Summary

This is a UK Order in Council that extends UK-style terrorist-financing offences and enforcement powers to several British Overseas Territories, including the Virgin Islands. It creates criminal offences relating to raising, using, possessing or laundering funds intended for terrorism, imposes disclosure duties on persons who suspect such offences, and establishes forfeiture and account monitoring powers for law enforcement.

• Offences created: Fund-raising, use, possession, funding arrangements and money laundering of terrorist property are made criminal offences (articles 6 to 9), with penalties up to 14 years imprisonment on indictment.
• Disclosure duty: A person outside the regulated sector who, in the course of a trade, profession, business or employment, believes or suspects another has committed a terrorist-financing offence must disclose that belief and its basis to a constable as soon as reasonably practicable, subject to a reasonable excuse defence and legal professional privilege.
• Regulated and public sector disclosure: Schedule 1 makes separate, specific disclosure provisions for persons in the regulated sector and the public sector.
• Forfeiture: Courts may order forfeiture of money or property connected to a terrorist-financing conviction, and Schedule 3 allows civil forfeiture of terrorist cash before a magistrate's court.
• Account monitoring orders: A financial institution named in an account monitoring order must provide specified account information to a constable for a period not exceeding 90 days from the date the order is made.
• Prosecution control: No proceedings for an offence under the Order may be instituted without the consent of the Attorney General.

The Order took effect on 1 August 2002 and applies territory-wide in the Virgin Islands and the other listed territories; it underpins the criminal-law backbone of the jurisdiction's anti-terrorist-financing regime alongside later AML/CFT legislation and codes.

Key obligations

• Any person who, in the course of a trade, profession, business or employment outside the regulated sector, believes or suspects that another has committed a terrorist-financing offence under articles 6 to 9 must disclose that belief or suspicion and its basis to a constable as soon as reasonably practicable.
• Persons and businesses in the regulated sector and public sector must comply with the specific disclosure obligations set out in Schedule 1.
• A financial institution subject to an account monitoring order must provide the specified account information to a constable in the manner, at the times and at the place specified in the order, for a period not exceeding 90 days.
• No prosecution for an offence under the Order may be brought without the Attorney General's consent.

Applies to

financial institutions, persons in the regulated sector, persons in the public sector, employers and employees generally, individuals and businesses handling money or property

Deadlines

• 1st August 2002: Coming into force date of the Order.
• as soon as is reasonably practicable: Deadline for disclosing a belief or suspicion of a terrorist-financing offence to a constable under article 10.
• not exceeding 90 days from the day the order is made: Maximum period a financial institution can be required to provide information under an account monitoring order.