OFSI’s June 2025 Threat Assessment flags the UK art and HVD sectors as hotspots for sanctions evasion and ML, urging tighter controls on HVA misuse by designated persons and enablers

The report reveals that luxury assets like art, jewellery, and vehicles are widely used to hide ownership, move funds covertly, and evade UK asset freezes. OFSI warns many remain unreported and reminds that from 14 May 2025, AMPs and HVDs must freeze and report assets linked to designated persons. Low SARs from these sectors highlight a serious compliance gap, while the role of enablers in facilitating breaches calls for stricter controls and due diligence beyond Russia-related risks…