Precautionary Measures
The judicial authority in Cameroon may, in accordance with national law, take precautionary measures, including the seizure of funds and assets related to the offense of money laundering or terrorist and proliferation financing that is the subject of the investigation, along with all information that could identify them, as well as the freezing of funds and financial transactions related to said assets. These precautionary measures are authorized to preserve the availability of funds, assets, and instruments that could be subject to confiscation. In cases where it opposes the execution of measures not provided for by national legislation, the judicial authority seized of a request concerning the execution of precautionary measures ordered abroad may substitute for these measures the measures provided for by domestic law which effects best correspond to the measures which execution is sought.
The release of these measures may be ordered by the competent judicial authority under the conditions provided for by law.
Freezing
- Freezing of Funds and Other Financial Resources
The competent authority in Cameroon shall order, by written decision, the freezing of funds and the seizure for the purpose of confiscating laundered assets, proceeds of money laundering, underlying offenses, and the financing of terrorism, of terrorist persons, entities, or organizations designated by the United Nations Security Council acting under Chapter VII of the Charter of the United Nations. The same applies to funds and other resources of persons or entities designated by the Ministerial Committee or the CEMAC Member States pursuant to UN Resolution 1373 or a third State.
In this case, this decision is based on evidentiary criteria relating to reasonable grounds or a sound basis.
The freeze extends to all funds or other assets owned or controlled by the designated person or entity, and not only those potentially linked to a specific terrorist act, plot, or threat.
The decision referred to above defines the conditions and duration applicable to the freezing. Financial institutions and any other person or entity holding these funds shall immediately freeze them upon notification of said decision until otherwise decided by the United Nations Security Council, by another decision taken according to the same procedure, or by a competent judicial authority.
Financial institutions and other subject persons shall promptly notify the National Financial Intelligence Unit (NISU) of the existence of funds originating from money laundering or linked to terrorists, terrorist organizations, or persons or organizations associated with them, in accordance with the decisions of the Ministerial Committee or the Ministers of Finance of Member States concerning the list of persons, entities, or bodies subject to the freezing of funds and other financial resources, in particular the list established by the United Nations Security Council and its updates.
It is strictly prohibited for the persons referred to in Articles 6 and 7 of the Regulations:
1) To make the funds subject to the freezing procedure available, directly or indirectly, to the natural or legal persons, entities, or bodies designated by the decisions referred to above, or to use them for their benefit;
2) To provide or continue to provide services to the natural or legal persons, entities, or bodies designated by the decisions referred to above, or to use them for their benefit.
It is prohibited to knowingly and intentionally carry out or participate in any transactions which purpose or effect is to circumvent, directly or indirectly, the provisions of this Article.
- Publication of Decisions to Freeze or Release Funds
Any decision to freeze or release funds or other financial resources must be made public, in particular by publication in the Official Gazette or a legal notices journal. The same applies to the procedures to be followed by any natural or legal person registered on the list of persons, entities, or organizations concerned, to obtain the removal of this registration and, where applicable, the release of the funds belonging to them.
- Freezing Funds for the Performance of Contracts
Funds or other financial resources due under contracts, agreements, or obligations entered into or arising prior to the entry into force of the fund freezing procedures are deducted from the frozen accounts. The income generated by the aforementioned funds, instruments, and resources, as well as accrued interest, are paid into said accounts.
- Easing Measures Regarding the Freezing of Funds
When a measure freezing funds, financial instruments, and other financial resources has been taken pursuant to the provisions of Article 105 of the regulation, the competent authority may, under conditions it deems appropriate, authorize the person, body, or entity concerned, upon request, to have access monthly to a sum of money, determined by said authority. This sum is intended to cover, within the limits of available funds, for a natural person, current household expenses or, for a legal entity, expenses enabling it to pursue an activity compatible with the requirements of public order.
This sum may also cover legal assistance fees or exceptional expenses. In any event, the expenses must be justified in advance.
The competent authority may also, under conditions it deems appropriate, authorize the person, body, or entity that has been subject to an asset freeze, at its request, to sell or transfer assets, provided that the proceeds from such sale or transfer are themselves frozen.
The competent authority shall notify its decision to the person, body, or entity that has been subject to an asset freeze within fifteen (15) days of receiving the requests mentioned in the first paragraph above. It shall inform the person concerned of its decision.
Failure to notify the applicant of a decision within the time limit specified in paragraph 3 above, from the date of receipt of the application, constitutes a rejection.
- Obligation to Suspend a Transfer Order
Financial institutions that receive an order from a client, other than a financial institution, to execute a transfer of funds or financial instruments on their behalf to a person, organization, or entity subject to an asset freeze, shall suspend the execution of this order and immediately inform the competent authority and the ANIF (National Financial Intelligence Unit).
The funds or financial instruments whose transfer has been suspended shall be frozen, unless the competent authority authorizes their release to the client.
Financial institutions that receive a transfer order from abroad for funds or financial instruments from a person, organization, or entity subject to an asset freeze for the benefit of a client other than a financial institution must suspend the execution of that order and immediately inform the requesting authority and the ANIF (National Financial Intelligence Unit).
The funds or instruments for which the transfer order has been suspended are frozen unless the competent authority authorizes the transfer or a decision by the competent judicial authority orders the execution of the transfer.
- Authorization for Payment or Return of Funds
The competent authority may authorize the payment or return of funds, financial instruments, or other economic resources subject to a freezing measure, to a person not subject to such a measure who requests it, if that person holds a right to those funds, financial instruments, or other economic resources acquired before the freezing measure, or if a final court decision grant them such a right, following legal proceedings initiated before the freezing measure was pronounced.
- Conditions Required for Authorizations
The authorizations referred to in Articles 108 and 110 of the regulation, where applicable, subject to the conditions or agreements that the authorities of Member States are required to respect or obtain under resolutions adopted within the framework of Chapter VII of the Charter of the United Nations or acts taken pursuant to applicable regulations. If the authorization is subject to the agreement of an international body, the time limits mentioned in the same articles are extended by the time necessary to obtain it.
- Procedure for Challenging Administrative Measures to Freeze Funds
Any natural or legal person whose funds and other financial resources have been frozen pursuant to the provisions of Article 105 of the regulation, who believes that the freezing decision resulted from an error or lack of legal basis, may appeal this decision within one (1) month from the date of publication in the Official Gazette or a legal notices journal, or from the date of notification thereof. The appeal is filed with the competent authority that ordered the freezing, indicating all elements that may demonstrate the error, or, if the appeal is based on a lack of legal basis, with the territorially competent judge of emergency matters. In the latter case, the opinion of the public prosecutor or the authority acting in their stead is required before any decision is made. Any challenge to a decision to freeze funds and other financial resources taken pursuant to a United Nations Security Council Resolution must comply with the appropriate procedure provided for in the Security Council Resolutions.