OFSI guidance for HVDs and AMPs on sanctions reporting

The guidance aims to improve sanctions reporting, ensure compliance, and tackle common sanctions evasion practices present across the sectors.

• From 14 May 2025, HVDs and AMPs will be required to report any dealings with sanctioned individuals or entities, enhancing transparency across the sector;
• The guidance highlights common evasion practices, such as asset transfers via shell companies or offshore accounts, and underscores the need for robust due diligence​;
• Digital assets, including cryptocurrencies, are identified as presenting emerging risks, with firms urged to implement strong compliance measures to prevent their misuse; and
• Firms must regularly update their sanctions compliance programmes and monitor the OFSI Consolidated List to avoid breaches​.

✅ Firms operating in the HVD and AMP sectors should review their financial sanctions frameworks to ensure compliance with new and forthcoming requirements.