伊人直播

Reporting obligations mostly apply to relevant firms (as defined in the UK regulations and referred to below). Relevant firms are required to inform OFSI as soon as practicable if they know or reasonably suspect a person is a designated person or has breached a prohibition or failed to comply with an obligation under specified provisions of sanctions regulations. If a relevant firm knows or has reasonable cause to suspect that a person is a designated person and that person is a customer of your relevant firm, you must also state the nature and amount or quantity of any funds or economic resources held by you for that customer.

The obligation to report applies where the information is received by a relevant firm in the course of carrying on their business. Reports are essential to help OFSI detect and address illegal activity.

Information received by OFSI may be disclosed to third parties in accordance with provisions set out in the Information and Records part of the regulations and in compliance with applicable data protection laws. You can review听OFSI鈥檚 general guidance听for more information on reporting obligations.

Relevant firms

Definitions of relevant firms can be found in the 鈥業nformation and records鈥� part of the statutory instrument for each sanctions regime. Details of regimes under the Sanctions and Anti-伊人直播 Laundering Act 2018 (the Sanctions Act) can be found on the Foreign, Commonwealth and Development Office web pages.

By way of example, relevant firms that are subject to specific reporting obligations as set out in UK regulations made under the Sanctions Act include:

• a person that has permission under Part 4A of the Financial Services and Markets Act 2000 (FSMA 2000) (Permission to carry on regulated activities)
• an undertaking that by way of business operates a currency exchange office, transmits money (or any representations of monetary value) by any means, or cashes cheques which are made payable to customers
• a firm or sole practitioner that is a statutory auditor or local auditor
• a firm or sole practitioner that provides by way of business accountancy services, legal or notarial services, advice about tax affairs or certain trust or company services
• a firm or sole practitioner that carries out, or whose employees carry out, estate agency work
• the holder of a casino operating licence
• a person engaged in the business of making, supplying, selling (including selling by auction) or exchanging articles made from gold, silver, platinum, palladium or precious stones or pearls.
• a cryptoasset exchange provider
• a custodian wallet provider
• a high value dealer [from 14 May 2025]
• an art market participant [from 14 May 2025]
• a firm or individual who acts as an insolvency practitioner [from 14 May 2025]
• a firm or sole practitioner that carries out, or whose employees carry out, letting agency work. [from 14 May 2025]

Further reporting requirements

In December 2023, the UK government introduced an additional reporting requirement for relevant firms under the Russia (Sanctions) (EU Exit) Regulations 2019.

A relevant firm is required to inform OFSI as soon as practicable if it knows, or has reasonable cause to suspect, that it holds funds or economic resources for a person to whom financial services must not be provided to under regulation 18A(1) (a 鈥榩rohibited person鈥�).

A prohibited person means the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, the Ministry of Finance of the Russian Federation, a person owned or controlled directly or indirectly by these entities, or a person acting on behalf of or at the direction of these entities.

To comply with this requirement, fill in the immobilised asset form.

Report a suspected breach

If you do something which is prohibited by financial sanctions you will have breached financial sanctions and may face enforcement action, which could include criminal prosecution or a monetary penalty.

OFSI works with relevant law enforcement agencies and regulators to consider all cases of suspected breaches that are reported.

Financial sanctions are widely publicised and businesses, particularly those operating internationally, should routinely consider whether sanctions might affect their activities. Organisations cannot avoid liability simply by failing to consider their sanctions risks.

You should report suspected breaches to OFSI as soon as practicable. Reporting breaches protects the integrity of financial sanctions and assists government and law enforcement agencies in tackling serious crime.

For more information and guidance on financial sanctions, please visit our听guidance page.

Consequences of breaching financial sanctions

When deciding how to respond to a breach, OFSI and the relevant enforcement agencies and regulators take several factors into account. For more information on how OFSI assesses breaches of financial sanctions, see the OFSI enforcement and monetary penalty guidance.

Where a breach has occurred, OFSI may decide to issue a warning letter to the parties involved and request evidence of actions taken to improve future compliance. OFSI can also publicise details of financial sanctions breaches.

OFSI may refer cases to the appropriate regulators and enforcement agencies who may then decide whether to pursue prosecution or regulatory action. OFSI is also able to impose monetary penalties in cases where serious breaches of financial sanctions occur.

Confidential reporting to OFSI

It is also possible to make a confidential report to OFSI regarding suspected breaches of UK sanctions, on a voluntary basis and where there is no statutory or professional obligation to do so. This can include those who consider themselves to be whistleblowers. If you wish to submit a report via this route then please read the relevant guidance on the process.

What is a designated person?

A designated person is an individual, entity or ship, listed under UK legislation as being subject to sanctions.

The list of designated persons subject to an asset freeze can be found on OFSI鈥檚 consolidated list of asset freeze targets.

Financial sanctions also apply to persons which are owned or controlled by a designated person, whether directly or indirectly. They may not be designated in their own right, so their name may not appear on the consolidated list. However, those persons or entities are similarly subject to financial sanctions.

For more information on ownership and control see OFSI鈥檚 general guidance.

Your report should include information by which the designated person can be identified. For example, aliases or alternative identities that could be used to evade sanctions.

Designated person reporting requirements

If you are a designated person under the Russia (Sanctions) (EU Exit) Regulations 2019, from December 2023 you are required under regulation 70A(1) to disclose any funds or economic resources you own, hold or control to OFSI.

In听May 2024, this reporting requirement听was听extended to also听apply to听designated persons听under The Republic of Belarus (Sanctions) (EU Exit) Regulations 2019.听The requirement is set out under regulation 38A(1) of these regulations.

Your initial report must be provided within 10 weeks of the relevant date, which is either:

• the date the legislation comes into force - 26 December 2023 (for听Russia听designated persons)听or听16 May 2024 (for听Belarus听designated persons), or
• the date of your designation if you have been designated after 26 December 2023 (for听Russia听designated persons)听or听after听16 May 2024 (for听Belarus听designated persons)

You should use the designated online form to comply with this reporting obligation. Please download the Excel template and complete this before uploading it to the form

OFSI鈥檚 Russia regime guidance and OFSI鈥檚 general guidance provide further information about your obligations.

How do I report frozen assets?

Financial sanctions legislation requires that all funds or economic resources owned, held or controlled by a designated person must be frozen.

Relevant firms must report to OFSI, as soon as practicable, the nature and amount or quantity of any funds or economic resources they hold for a customer who is a designated person.

Every year OFSI carries out a frozen assets reporting exercise that requires persons that hold funds or economic resources owned, held or controlled by a designated person, to provide a report with the details of these assets.

On receipt of these reports, OFSI carries out a review to update its records to reflect any changes to these assets during the reporting period.

From 2025 onwards the review will no longer be conducted using OFSI鈥檚 powers to request information. Instead, there are now specific new obligations in sanctions regulations for UK persons to report this information. Persons that hold funds or economic resources owned, held or controlled by a designated person as of 30th September in a calendar year will have to provide OFSI with a report stating the nature and amount or quantity of these funds or economic resources by no later than 30th November in that calendar year

For more information on the annual review of frozen assets see the Frozen Assets Reporting webpage.

However, if you freeze any assets outside of this review period you must still contact OFSI as soon as practicable, using the Frozen Asset online form. Please download the Excel template and complete this before uploading it to the form.

Designated persons asset reporting privacy policy

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Licence reporting

Use the below forms for reporting requirements that apply to a licensed activity.

Complying with an exception

Use the relevant form below to submit a compliance notification to OFSI.