MEDIA RELEASE No: 2001-21 Date: 17 October 2001 Embargo: For Immediate Release

CHANGES TO FINANCIAL SANCTIONS

At the request of the Commonwealth Government, the Reserve Bank took steps under the Banking (Foreign Exchange) Regulations on 3 October to prohibit transactions involving accounts in the name of persons or entities identified by the United Nations and United States as being linked to terrorism.

The Reserve Bank has today written to financial institutions to provide them with an updated list to reflect additional persons and entities subsequently identified by the United States. The names of persons or entities added to the list are attached, with restrictions applicable immediately.

The Reserve Bank has also notified financial institutions of the lifting of restrictions currently in place on financial transactions with the authorities of the Federal Republic of Yugoslavia and its agencies, and their replacement with mechanisms to monitor certain large transactions and transactions of known supporters of the former Milosevic regime.

Enquiries:
Information Department
Reserve Bank of Australia
SYDNEY

Phone: +61 2 9551 9720
Fax:     +61 2 9221 5528
E-mail: rbainfo@rba.gov.au