As part of your customer due diligence activities, you should also consider whether a potential client may be subject to any financial sanctions.

The Office of Financial Sanctions Implementation (OFSI) publishes a list of all those subject to financial sanctions imposed by the UK. This provides information to help you decide whether you are dealing with someone who is subject to sanctions.

The OFSI helps to ensure that financial sanctions are properly understood, implemented and enforced in the United Kingdom. OFSI has also produced a quick guide which provides key information regarding the obligations of businesses and individuals in relation to financial sanctions.

The Consolidated list of EU financial sanctions and a Consolidated list of persons, groups and entities subject to EU financial sanctions can be found on the European Union External Action website.