Frozen assets reporting 2021
Every year HM Treasury carries out a review of frozen assets to update its records and to capture any changes during the reporting period.
Since the 31 December 2020, all sanctions regimes have been implemented through UK regulations, with the majority of UK financial sanctions regimes implemented through the Sanctions and Anti Money Laundering Act 2018 (the Sanctions Act).
If you hold or control funds or economic resources belonging to, owned, held, or controlled by a designated person you are required to submit a report to OFSI by Friday 15 October 2021.
Your report must include details of all funds or economic resources frozen in the UK as well as those overseas, where these funds or economic resources are subject to UK financial sanctions legislation. Your report to OFSI must include the value of all such assets as of close of business on Thursday 30 September 2021.
The attached notice has more detail…