Planners asked to aid terrorism fight
The financial planning industry has been called on to play its part in the international fight against terrorism.
The Parliamentary Secretary to the Treasurer Senator Ian Campbell has written to Financial Planning Association’s (FPA) chief executive, Ken Breakspear and outlined what the Government says is the industry’s obligations regarding the freezing of assets of persons or entities designated as terrorists.
The letter explains that the obligations, which apply to anyone who holds assets or funds belonging to others, arise from a United Nations resolution on anti-terrorism measures passed following the September 11 terrorist attacks in New York last year.
Those people and entities deemed terrorists under this resolution will be published on the Australian Department of Foreign Affairs and Trade’s website.
“You and your members should check this website regularly to ensure compliance with the obligations under the legislation,” Senator Campbell says.
The obligations state any person who holds assets or funds belonging to a listed terrorist or terrorist organisation must immediately freeze those assets or funds.
Further, it is deemed a criminal offence to make any assets or funds available to a listed person or entity.
AUTHOR
Fiona Moore
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