Freezing of Assets

(asked on 28th March 2022) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what estimate his Department has made of the total value of assets that have fled the UK's jurisdiction while being investigated by the Office for Financial Sanctions Implementation for potential breaches of sanctions.


Answered by
John Glen Portrait
John Glen
Paymaster General and Minister for the Cabinet Office
This question was answered on 31st March 2022

The Office of Financial Sanctions Implementation is committed to ensuring businesses and individuals comply with financial sanctions to taking firm action when they don’t, including levying monetary penalties where appropriate. It is important to note that assets are only required to be frozen after a sanctions designation has been made. After the designation, it is an offence to deal with any funds that have been frozen.

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