12 Apr, 2024 Two birds with one stone: Gambling Commission examines sanctions compliance alongside AML procedures By Lorna Emson Max Hobbs Helen Harvey Freddy Rendall +1 more... Show less On 4 April 2024, the Gambling Commission (the Commission) announced the imposition of a £582,120 fine on a major UK gambling company for...
15 Feb, 2024 FCA update on reducing and preventing financial crime: what you need to know By Lorna Emson Helen Harvey Francis Bond Alex Taylor +1 more... Show less The Financial Conduct Authority (FCA) has published an update on its three-year strategy to reduce and prevent financial crime. The...
12 Dec, 2023 UK announces new sanctions agency – OTSI – to launch in 2024 By Helen Harvey On 11 December 2023, the UK government announced the creation of the Office for Trade Sanctions Implementation (OTSI) as part of the...
21 Nov, 2023 All that glitters is not gold: "Red Alert" published on gold-based sanctions circumvention By Helen Harvey Lara Gardiner A "Red Alert" has been published by a multi-agency working group including the National Economic Crime Centre, the Office of Financial...
23 Jun, 2023 Freeze to seize to Kyiv - a first step? By Helen Harvey On 19 June 2023, the Government announced a new package of sanctions which pave the way for assets frozen under the Russia sanctions...
05 Jun, 2023 Trust Services Sanctions Guidance: including the thorny issue of persons connected with Russia By 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...
03 Apr, 2023 Best laid (economic crime) plans: the usual government rhetoric or an actual step forward? By 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...
17 Mar, 2023 OFSI publishes new guidance on ownership and control By Helen Harvey Jenny Shelley On 16 March, the Office of Financial Sanctions Implementation (OFSI) updated its enforcement and monetary penalties for breaches of...
16 Nov, 2022 OFSI’s annual review of an unprecedented year By 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...
04 Oct, 2022 UK announces further sanctions, including on legal services, in response to Russia’s illegal annexations By Helen Harvey The UK government has announced further sanctions against Russia designed to target vulnerable sectors of the Russian economy. The...
29 Sep, 2022 OFSI impose monetary penalty (and include compliance lessons for all) By 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...
26 Jul, 2022 More UK sanctions against Russia: accountancy, PR and management consultancy services’ ban By 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...
06 Jul, 2022 United Nations tells global banks: stop over-complying with financial sanctions By Francis Bond The UN Special Rapporteur on The Negative Impact of Unilateral Coercive Measures on Human Rights has made an appeal to banks and other...
30 Jun, 2022 Sanctions enforcement: $30bn of Russians’ assets frozen or seized (and the UK levies a £15,000 fine) By Helen Harvey On 29 June 2022, the Russian Elites, Proxies, and Oligarchs (REPO) Task Force, a multi-national group aimed at seizing or freezing the...
24 Jun, 2022 Office of Financial Sanctions Implementation: looking to upscale and upskill By 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...
15 Jun, 2022 New strict liability offence for financial sanctions comes into force today, amongst others By Francis Bond Following the Economic Crime (Transparency and Enforcement) Act 2022’s expedited passage through Parliament in March 2022, the Office of...