FSA list in offing

The 11 September events have spawned a host of lists of suspect individuals and organisations against which financial institutions are required or advised to check their existing account holders. So far the UK Financial Services Authority has not added its own but, speaking at a recent DLA conference in London, Dan Shonfeld of the FSA’s Financial Crime Policy Division said that the industry should expect one soon. “We’re trying to produce a streamlined set of names,” he said, “but in the meantime I would recommend firms to continue looking at those issued by OFAC (Office of Foreign Assets Control) and the FBI and report any suspicions to NCIS (National Criminal Intelligence Service, the UK’s financial intelligence unit).” Mr Shonfeld was asked what form the FSA list would take, and whether it would include the terrorist organisation’s name and addresses. “That is a matter for law enforcement,” he said.