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1. It shall be prohibited to participate, knowingly and intentionally, in activities the object or effect of which is to circumvent the measures referred to in this Regulation.

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

(a) report within 6 weeks from the date of listing in Annex IV funds or economic resources within the jurisdiction of a Member State belonging to, owned, held or controlled by them, to the competent authority of the Member State where those funds or economic resources are located; and (b) cooperate with the competent authority in any verification of such information.

3. Failure to comply with paragraph 2 of this Article shall be considered as participation, as referred to in paragraph 1 of this Article, in activities the object or effect of which is to circumvent the measures referred to in Article 6.

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

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 shall be carried out in accordance with this Regulation and with Regulations (EU) 2016/679 and (EU) 2018/1725 and only in so far as necessary for the application of this Regulation.