Why Are Financial Sanctions Used

International sanctions measures, including targeted financial sanctions are generally imposed on an individual, entity or regime to:

 

  • Coerce a regime, or individuals within a regime, into changing their behaviour by increasing the cost on them to such an extent that they decide to cease the offending behaviour;
  • Constrain a target by denying them access to key resources needed to continue their offending behaviour, including the financing of terrorism or nuclear proliferation;
  • Signal disapproval, stigmatizing and potentially isolating a regime or individual, or as a way of sending broader political messages nationally or internationally; and/or
  • Protect the value of assets that have been misappropriated from a country until these assets can be repatriated.


Any person that fails or refuses to provide information to the Agency that it considers relevant to the performance of its functions commits an offence and is liable on summary conviction to a fine not exceeding twenty thousand dollars or to imprisonment for a term not exceeding two years or to both.

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