Parliamentary Search

Written question asked by Tanmanjeet Singh Dhesi (Labour) on Wednesday, 3 September 2025, in the House of Commons. It was due for an answer on Monday, 8 September 2025. It was answered by Lucy Rigby (Labour) on Wednesday, 10 September 2025 on behalf of the Treasury.

Property: Assets

Question

To ask the Chancellor of the Exchequer, what recent steps she has taken to help prevent people who have been sanctioned from concealing property assets in the UK.

Answer

In April, OFSI released a Property Threat Assessment Report. The report identifies key evasion threats, red flags that businesses should be aware of, and observations on areas where compliance could be strengthened.

For the Threat Assessment Report, click here: OFSI_Property_and_Related_Services_Threat_Assessment.pdf

OFSI also has specific guidance for letting agents. This guidance helps to facilitate OFSI’s aim of encouraging better sanctions compliance, raising impacted businesses’ awareness of their sanctions obligations, and assisting OFSI in identifying potential circumvention gaps and financial sanctions breaches. For OFSI’s letting agents guidance, click here: https://www.gov.uk/government/publications/financial-sanctions-guidance-for-letting-agents/financial-sanctions-guidance-for-letting-agents

Since 2022, OFSI has significantly increased its headcount and capability, including procuring leading tools and training, which means OFSI is able to undertake proactive, intelligence-led sanctions enforcement.

Secondary information

Type
Written question
Reference
74608
Session
2024-26
Subjects
Disclosure of information Assets Property Sanctions
Link
View this Written question on www.parliament.uk