Solicitors have just a few more days to check the latest HM Treasury consolidated list of asset freeze targets to ensure they do not hold client monies that are subject to financial sanctions.

Anyone holding frozen assets has until 15 October to submit a report to the Office of Financial Sanctions Implementation (OFSI).

Sanctions are an important foreign policy and national security tool. Solicitors and other legal professionals are required to comply with financial sanctions in place in the UK and report frozen assets to OFSI immediately.

Juliet Oliver, SRA general counsel, said: "Solicitors should be aware of their obligations under financial sanctions legislation and make sure they are not helping anyone with dubious funding streams. This risk exists for every single solicitor and law firm, whether conveyancing on the high street or handling global transactions.

"We would urge all of you to look at the review and, if a client is listed and you hold any of their assets, make a report as necessary."

Completed reports should be emailed to ofsi@hmtreasury.gov.uk using the template on the gov.uk website.

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