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1. It shall be prohibited to participate, knowingly or intentionally, in activities the object or effect of which is to circumvent the prohibitions set out in this Regulation.

2. Natural or legal persons, entities or bodies listed in Annex III, shall:

(a) report within six weeks from the date of listing in Annex III funds or economic resources within the jurisdiction of a Member State belonging to, owned, held or controlled by them, to the competent authorities of the Member State in which those funds or economic resources are located; and (b) cooperate with the competent authorities concerned in the verification of such information.

3. Failure to comply with paragraph 2 shall be considered as participation, as referred to in paragraph 1, in activities the object or effect of which is to circumvent the measures referred to in Article 3.

4. The Member State concerned shall inform the Commission within two weeks of the reporting of information pursuant to paragraph 2(a).

5. Any information provided or received in accordance with this Article shall be used only for the purposes for which it was provided or received.

6. Any processing of personal data pursuant to this Article shall be carried out in accordance with this Regulation and Regulations (EU) 2016/679 and (EU) 2018/1725 and only insofar as is necessary for the application of this Regulation.