The U.S. Office of Foreign Assets Control has issued a bulletin updating the list of suspects in its campaign against terrorist financing.

Another 62 names were added to the list today by the U.S. Secretary of the Treasury, labeling various entities and individuals as “Specially Designated Global Terrorists”.

Included on the list is Barakaat North America and the individual Liban Hussein. Both are listed as having an address in Ottawa.

Apart from the Canada-based group, many of the organizations named on the list include the word Barakaat, or a similar variant.

This latest initiative is being touted by the U.S. administration as a move against the traditional money transfer networks in the Islamic world, known as hawala, which keep funds out of the mainstream Western financial system and create no paper trail.

Following the U.S. action, Canada’s Finance Minister Paul Martin and Foreign Affairs Minister John Manley said that the federal government has listed an additional 83 individuals and organizations linked to terrorism whose property are to be frozen and reported to the relevant authorities.

“In the wake of the tragic events of September 11, Canada and its allies declared war on terrorism,” Martin stated. “We are continuing to target groups and individuals who use violence and unlawful means to achieve their goals.”

As a result of the government’s action, the Office of the Superintendent of Financial Institutions is sending a letter to all federally regulated financial institutions. Provincial and territorial financial regulators are also being advised of the new names. A copy of the letter and a list of persons and entities can be found on the OSFI Web site at www.osfi-bsif.gc.ca.

Canadian financial institutions have been required to report dealings with groups and individuals on previous such lists from the U.S. government. And there s now an ongoing regulatory obligation to do so.