Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether guidance has been issued to (a) banks and (b) financial services firms on (i) detecting and (ii) reporting transactions linked to sanctioned people smuggling networks.

The Foreign, Commonwealth and Development Office (FCDO) has designated 25 individuals and entities under the new Global Irregular Migration and Trafficking in Persons Sanctions Regulations 2025, and previously published statutory guidance.

The Office of Financial Sanctions Implementation (OFSI), responsible for implementing and enforcing financial sanctions, has produced an extensive suite of guidance to provide industry with further clarity and support to comply with financial sanctions, such as the OFSI general guidance, threat assessment reports and FAQs.

For further information view OFSI’s general guidance here, and its full suite of guidance here.