The Isle of Man Treasury issued a notice publicising six additions to the UK sanctions list following the Foreign, Commonwealth and Development Office's update on 6 July 2026, and set out the immediate compliance steps for firms that identify a possible match. Where a firm holds or otherwise deals with funds or economic resources of a listed person or entity, it must freeze those assets immediately, review the information it holds to determine whether the hit is a true match or a false positive, and avoid dealing with the assets or making them available unless a legal exemption or licence applies. Confirmed matches must be reported to the FIU as frozen assets. Firms must also report suspected breaches of sanctions law and any attempted transactions they have blocked. The notice adds that screening against the UN or UK sanctions lists includes assessing whether a corporate entity is owned or controlled, directly or indirectly, by a designated person, and clarifies that relevant institutions do not need to report again assets already reported as frozen for the same designated person.
The Treasury (Isle of Man)2026-07-07
Isle of Man Treasury publicises six new UK sanctions list entries and reminds firms of freeze and reporting duties
The Isle of Man Treasury has publicised six additions to the UK sanctions list after the Foreign, Commonwealth and Development Office updated it on 6 July 2026. Firms that identify a possible match and hold relevant funds or economic resources must freeze assets immediately, verify whether the hit is genuine, and report confirmed freezes, suspected breaches and blocked attempted transactions to the FIU.