OFSI launches online forms to simplify financial sanctions compliance

The Office of Financial Sanctions Implementation (OFSI) has today launched a suite of new online forms designed to make reporting and licence applications quicker and more accessible for users. This development underlines OFSI’s commitment to delivering high-quality, user-friendly services while supporting firms and individuals to comply with the UK’s evolving financial sanctions regime.

From today, users can submit a range of reports and applications online, including suspected breaches of financial sanctions, the oil price cap, and counter-terrorism sanctions. The platform also enables online submission of licensing applications and associated reporting, as well as reports concerning legal services general licences, designated persons, frozen or immobilised assets, and the use of exceptions in sanctions legislation.

Key submissions now available online include:

• Financial sanctions suspected breach reporting

• Oil price cap suspected breach reporting

• Counter-terrorism suspected breach reporting

• Licensing applications

• Licence reporting

• Legal services general licence reporting

• Designated persons reporting

• Frozen assets reporting

• Immobilised assets reporting

• Reporting a suspected designated person

• Reporting use of exceptions in sanctions legislation

To ensure a smooth transition, the new online forms will operate alongside existing downloadable versions for a period, allowing continued email submission. OFSI has confirmed that ample notice will be provided before email-based submissions are permanently phased out.

The launch of these online forms is a significant step forward in modernising OFSI’s engagement with stakeholders. By streamlining processes and enhancing accessibility, OFSI is making it easier for regulated entities, legal professionals, and other users to meet their compliance obligations efficiently.