August 24, 2005
BSP CIRCULAR LETTER
TO : All Banks and Non-Bank Financial Institutions Under BSP Supervision
Attached is a copy of Resolution No. 90 dated 15 August 2005 issued by the Anti-Money Laundering Council relative to the request of the Government of the United States of America for information about Hotel Nasco, including the blocking of its assets.
Hotel Nasco is owned and operated by Ahmed Idris Nasreddin, an individual named by the United States Department of the Treasury as a Specially Designated Global Terrorist (SDGT). Hotel Nasco is being managed by Nasco Business Residence which is designated domestically by the US Government because of its association with the Al-Qaida.
In view thereof, all banks and non-bank financial institutions under BSP supervision are hereby directed to submit directly to the Council reports of covered or suspicious transactions, if any, involving the Nasco Business Residence and/or Hotel Nasco in accordance with Sections 7 and 9 of the Anti-Money Laundering Act (AMLA), as amended and Rule 9.3 of the Revised Implementing Rules and Regulations. TSIDaH
Thank you for your cooperation.
(SGD.) NESTOR...
