OFSI adds 2 Frequently Asked Questions and General Licence INT/2023/3179120 amended On 1 October, the Office of Financial Sanctions Implementation (OFSI) added 2 Frequently Asked Questions (FAQs) to our FAQs page. FAQ 121 can be found under the General licensing section, regarding General licence INT/2024/4919848. FAQ 122 can be found under the under Trust services sanctions heading. Our FAQs are designed to offer easily accessible responses to commonplace compliance questions. Whether you're navigating sanctions related to specific countries or industries, or operating in high-risk jurisdictions, our FAQs provide the extra support you need. FAQs should always be viewed alongside our existing guidance and legislation, which take precedence. For specific cases, OFSI also advises you to seek independent legal advice.  To view the FAQ page click here On 1 October 2024, General Licence INT/2023/3179120 was updated: 1. The definition of UK Designated Persons(DPs) was amended to:
Those individuals or entities designated (or owned or controlled by an individual or an entity designated) for the purposes of an asset freeze by the UK under the UK Autonomous Sanctions Regulations, excluding those designated for the purpose of compliance with United Nations obligations. 2. The definition of Return Payments was amended to:
A payment payable by a Water Company to a UK DP in connection with water and/or
sewerage services to a UK property owned or rented by the DP and arising from:
- an overpayment by the DP,
- a credit on the account of the DP,
- a billing adjustment (whether or not as a result of error) by the Water Company,
- termination of the services. 3. The validity of the General Licence is now indefinite. The General Licence and its publication notice can be found here on GOV.UK. To view the General licence click here | 