A UK company that organises wine and spirits competitions has been fined by the UK Office of Financial Sanctions Implementation (OFSI) for breaching UK financial sanctions....more
The UK sanctions enforcement regime becomes tougher today due to changes made by the Economic Crime (Transparency and Enforcement) Act 2022 coming into force....more
The UK sanctions imposed as a result of Russia’s invasion of Ukraine have undoubtedly put intense pressure on businesses to review existing commercial arrangements and tighten sanctions compliance systems and controls. But...more
A new regime in the UK for punishing individuals or businesses that breach financial sanctions came into force on 1 April 2017.
In March 2016 the Office of Financial Sanctions Implementation (OFSI) was formed, as part of...more
There will soon be a new regime in place in the UK for punishing individuals or businesses that breach financial sanctions. In March 2016 the Office of Financial Sanctions Implementation (OFSI) was formed, as part of the...more
The new UK Office of Financial Sanctions Implementation (OFSI), part of HM Treasury (HMT) opened on 31 March 2016. This may signal a shift towards more aggressive enforcement of the financial sanctions regime in the UK. ...more