New UK financial sanctions rules

14 May 2025 | Icon DSP

What changes are taking place?

As of 14th May 2025 new financial sanctions regulations were implemented in the UK, impacting all relocation companies and letting agents. These rules mandate financial sanctions checks on both landlords and tenants, and require relocation companies as well as letting agents to report any suspicions of sanctions breaches to the Office of Financial Sanctions Implementation (OFSI).

A sanctions check is a screening process used to determine whether a person or organisation appears on a government or international sanctions list. These lists may include individuals or entities linked to:

  • Money laundering

  • Terrorist financing

  • Human rights violations

  • Organised crime

  • Political corruption and other national security threats

What is a sanctions check?

Sanctions checks are intended to prevent individuals or businesses involved in criminal or high-risk activity from entering into contracts — including tenancy agreements. If a person or company is identified on the UK Government sanctions list, or if there is reasonable cause to suspect they are, all relocation companies are legally required to freeze any further services and report the matter to the OFSI.

Questions or concerns?

If you have any questions about how these changes may affect a current or planned relocation then please do not hesitate to contact us for more details.

  • Simon Johnston (CEO)
    simon.johnston@iconrelocation.com

  • Rebecca Ticehurst (Operations Director)
    rebecca.ticehurst@iconrelocation.com
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