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THE COMMISSION

GLOSSARY

Automated screening

Using software to screen customer details.

CMD

Chief Minister’s Department, States of Jersey

Consolidated version

A published version of a piece of legislation that incorporates any amendments made to that piece of legislation since its enactment.

Designated activity

An activity restricted or prohibited by a sanctions measure.

Designated person

A person who is the subject/target of sanctions.

Economic resources

Assets of every kind, whether tangible or intangible, movable or immovable, which are not funds but can be used to obtain funds, goods or services.

Escalation procedures

The process of escalating a problem up the chain of command.

False Positives

An individual or entity flagged as a potential match in screening, but on subsequent investigation turns out not to be an actual match.

Freezing of economic resources

Preventing their use to obtain funds, goods or services in any way, including, but not limited to, the selling, hiring or mortgaging of them.

Freezing of funds

Preventing any move, transfer, alteration, use of, access to, or dealing with funds in any way that would result in any change in their volume, amount, location, ownership, possession, character, destination or other change that would enable funds to be used, including portfolio management.

Funds

Financial assets and benefits of every kind, including but not limited to:
  • cash, cheques, claims on money, drafts, money orders and other payment instruments;
  • deposits with financial institutions or other entities, balances on accounts, debts and debt obligations;
  • publicly and privately traded securities and debt instruments, including stocks and shares, certificates representing securities, bonds, notes, warrants, debentures and derivatives contracts;
  • interest, dividends or other income on or value accruing from or generated by assets;
  • credit, right of set-off, guarantees, performance bonds or other financial commitments;
  • letters of credit, bills of lading (shipping certificate), bills of sale;
  • documents evidencing an interest in funds or financial resources;
  • any other instrument of export-financing.

Fuzzy testing

An information technology technique that can be used to identify additional potential matches through variations in spelling and punctuation e.g. if a search is for “Alistair”, it will also pick up “Alasdair” and “Alastair” and variations in punctuation such as the USA or U.S.A.

Licence

Written authorisation to allow an activity that would otherwise be prohibited. Conditions may be attached, such as reporting requirements.

Name match/
Potential target match

Where screening flags up a person or entity whose name matches the name of a sanctions target.  This does not necessarily mean that the person or entity identified is in fact a target match.

OFAC

Office of Foreign Assets Control.

PEP

An individual who is or has been entrusted with prominent public functions in a foreign country, for example Heads of State or of government, senior politicians, senior government, judicial or military officials, senior executives of state owned corporations and important political party officials.

Target

An individual or entity subject to sanctions restrictions.

Target match/
actual match

 

Confirmed match against a person or entity who is the target of sanctions.

UK Consolidated List

List of sanctions targets published by Her Majesty’s Treasury in the United Kingdom. Consists of the names of the individuals and entities that are listed as sanctions targets by United Nations resolutions, European Union Regulations and United Kingdom legislation.

 Issued January 2011

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