The Isle of Man Treasury issued a notice publicising an amendment to one entry on the UK sanctions list after the UK Foreign, Commonwealth and Development Office updated the UK Sanctions List on 24 June 2026. The notice does not describe the amended entry in the text provided, but directs readers to the annex for further information. The notice reiterates the actions required if a sanctions compliance programme identifies a possible match to a listed person or entity and the firm holds or otherwise deals with that person’s funds or economic resources. Assets must be frozen immediately, firms must determine whether the match is genuine or a false positive, and, where a true match is confirmed, assets must not be dealt with or made available unless a legal exemption or licence applies. Frozen assets must be reported to the Financial Intelligence Unit, and any suspected sanctions breaches or blocked attempted transactions must also be reported. The Treasury also notes that firms do not need to resubmit details of assets already reported as frozen, and that sanctions screening must include assessing whether a corporate entity is owned or controlled directly or indirectly by a person on the UN or UK sanctions lists.
The Treasury (Isle of Man)2026-06-25
Isle of Man Treasury publicises UK sanctions list amendment affecting one entry
The Isle of Man Treasury published a notice flagging an amendment to one entry on the UK sanctions list following a 24 June 2026 update by the UK Foreign, Commonwealth and Development Office. It also restates firms’ obligations to freeze assets, verify matches, avoid dealing with assets of designated persons without an exemption or licence, and report frozen assets and suspected breaches to the Financial Intelligence Unit.