Jun 23, 2023 Freeze to seize to Kyiv - a first step? By Neill Blundell Helen Harvey Jessica Arapu On 19 June 2023, the Government announced a new package of sanctions which pave the way for assets frozen under the Russia sanctions...
Jun 05, 2023 Trust Services Sanctions Guidance: including the thorny issue of persons connected with Russia By Neill Blundell Helen Harvey Joshua Rutt On 30 May 2023, the Office of Financial Sanctions Implementation (OFSI) published a blog to clarify the scope of trust services...
Apr 03, 2023 Best laid (economic crime) plans: the usual government rhetoric or an actual step forward? By Neill Blundell Helen Harvey Joshua Rutt Recognising the increasing threat to the UK’s national security and prosperity, on 30 March, HM Treasury and the Home Office published...
Mar 17, 2023 OFSI publishes new guidance on ownership and control By Neill Blundell Helen Harvey Jenny Shelley On 16 March, the Office of Financial Sanctions Implementation (OFSI) updated its enforcement and monetary penalties for breaches of...
Nov 16, 2022 OFSI’s annual review of an unprecedented year By Neill Blundell Helen Harvey Chris Akka On 10 November 2022, the UK’s Office of Financial Sanctions Implementation (“OFSI”) published its annual review. This has been a...
Oct 04, 2022 UK announces further sanctions, including on legal services, in response to Russia’s illegal annexations By Neill Blundell Helen Harvey The UK government has announced further sanctions against Russia designed to target vulnerable sectors of the Russian economy. The...
Sep 29, 2022 OFSI impose monetary penalty (and include compliance lessons for all) By Neill Blundell Helen Harvey Aaliyah Sattar The UK’s Office of Financial Sanctions Implementation (OFSI) announced on 27 September 2022 that it had imposed a £30,000 monetary...
Jul 26, 2022 More UK sanctions against Russia: accountancy, PR and management consultancy services’ ban By Neill Blundell Helen Harvey Imogen Courtney On 21 July 2022, new sanctions cutting off Russia’s access to the UK’s business and management consulting, accounting and PR services...
Jul 06, 2022 United Nations tells global banks: stop over-complying with financial sanctions By Neill Blundell Francis Bond Jessica Arapu The UN Special Rapporteur on The Negative Impact of Unilateral Coercive Measures on Human Rights has made an appeal to banks and other...
Jun 30, 2022 Sanctions enforcement: $30bn of Russians’ assets frozen or seized (and the UK levies a £15,000 fine) By Neill Blundell Helen Harvey Jessica Arapu On 29 June 2022, the Russian Elites, Proxies, and Oligarchs (REPO) Task Force, a multi-national group aimed at seizing or freezing the...
Jun 24, 2022 Office of Financial Sanctions Implementation: looking to upscale and upskill By Neill Blundell Helen Harvey Helin Gurel On Wednesday 22 June, the director of the Office of Financial Sanctions Implementation (“OFSI”), Giles Thomson, speaking to the House of...
Jun 15, 2022 New strict liability offence for financial sanctions comes into force today, amongst others By Neill Blundell Francis Bond Jessica Arapu Following the Economic Crime (Transparency and Enforcement) Act 2022’s expedited passage through Parliament in March 2022, the Office of...
May 23, 2022 Laughable that sanctions might not apply to crypto? It is according to this US judge By Neill Blundell Helen Harvey In a recently unsealed court document from the US, the judge quoted comedy show, Saturday Night Live, in support of his unequivocal...
May 20, 2022 The FCA unveils new reporting platform for sanctions breaches By Neill Blundell Francis Bond Georgia O'Connor The Financial Conduct Authority (FCA) has launched a new financial sanctions evasion reporting platform for regulated entities, in a bid...
May 04, 2022 The Chancellor announces a £25 million “fraud squad” to recover £5 billion By Lorna Emson Max Hobbs Georgia O'Connor The Chancellor, Rishi Sunak, has announced a new “fraud squad” to recover money stolen from the state-backed Covid Bounce Back Loan...
Apr 19, 2022 £2.7 million fine for breach of UK arms controls: but why the lack of transparency? By Helen Harvey Neill Blundell Georgia O'Connor It has just been announced that in February of this year, HM Revenue & Customs (HMRC) fined an unidentified UK company circa £2.7 million...