---
title: OFSI issues 2024 Financial Sanctions Notice
description: HM Treasury’s Office of Financial Sanctions Implementation (OFSI) issued its 2024 Financial Sanctions Notice, reminding UK entities of their obligations under financial sanctions law.
---

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# [OFSI issues 2024 Financial Sanctions Notice](https://www.plenitudeconsulting.com/news-insights/ofsi-issues-2024-financial-sanctions-notice)

 Written by [Insight & Partnership Team](https://www.plenitudeconsulting.com/news-insights/author/insight-partnership-team) | Nov 1, 2024 4:25:57 PM

 

The notice highlights annual frozen asset reporting requirements and ongoing compliance expectations for organisations holding assets subject to sanctions.

Key requirements include:

- All UK persons and entities must continue to freeze any funds or economic resources owned or controlled by designated individuals and entities;
- The annual reporting deadline for frozen assets is 11 November 2024, covering assets as of 30 September 2024; and
- Cryptoassets, like other financial assets, fall under financial sanctions restrictions and must be reported accordingly.

✅ Organisations should designate a responsible individual to compile and submit the frozen assets report, ensuring comprehensive and compliant submissions.

💡 Plenitude can support your firm navigate compliance with the evolving UK financial sanctions landscape. Get in touch for more information: [enquiries@plenitudeconsulting.com](mailto:enquiries@plenitudeconsulting.com)

[View full post](https://www.plenitudeconsulting.com/news-insights/ofsi-issues-2024-financial-sanctions-notice)

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