Final reminder: new sanctions duties (letting agents)

As we previously reported in our member enews in December and March, letting agents will have to comply with new financial sanctions requirements from 14 May 2025. From that date agents setting up a new tenancy will need to check that the landlord(s) and tenant(s) do not appear on a list of those subject to UK financial sanctions. The list can be found here. It currently includes individuals and entities associated with countries including Afghanistan, Belarus, Bosnia & Herzegovina, Central African Republic, North Korea, Congo, Guinea, Guinea-Bissau, Haiti, Iran, Iraq, Libya, Mali, Myanmar, Nicaragua, Russia, Somalia, Sudan, South Sudan, Syria, Venezuela, Yemen and Zimbabwe.

In the unlikely event that an agent does find one of the parties named on the list, they must file a report with the Office of Financial Sanctions Implementation (OFSI), part of HM Treasury, using the form which can be found here.It would be advisable to cease dealings with the person and you should not make any payments to them.

Click here for full government guidance on the new duties.

SAL’s factsheet on ID checks and referencing has been updated with guidance on this new duty on page 3 of the factsheet which can be found here.