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Office of Financial Sanctions Implementation (OFSI)
- Office of Financial Sanctions Implementation (OFSI)
- This act requires letting agents to comply with new rules, like that already required by Banks and Accountants.
- Even landlords and tenants can be required to comply.
- The concept of a 'designated person' in this context means a person under suspicion of financial wrongdoing.
- A designated person (DP) is listed on the UK Sanctions List.
- Their UK assets are frozen
- They are prohibited from money dealing, accessing economic resources or renting property.
- Knowingly assisting such a person even unwittingly may breach the rules.
- Letting agents are legally obliged to report any such reasonable suspicions with reasoning.
- To search for a suspicious person enter their name on the following link:
- https://search-uk-sanctions-list.service.gov.uk/
