New UK Sanctions Rules: What Estate Agents Need to Know Before May 2025
From 14 May 2025, the UK government is expanding financial sanctions reporting obligations to include letting agents and all tenancies. This change means that agents will now be required to report to the Office of Financial Sanctions Implementation (OFSI) if they know or suspect that a person is a designated individual or has breached financial sanctions regulations. This obligation applies when such knowledge or suspicion arises during the course of business activities.
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