With 240 active investigations, this is not theoretical. If you are unsure about your sanctions exposure, the time to find out is before OFSI does — not after. #Sanctions #OFSI #FinancialCrime #Compliance

Rules vs Enforcement: Demystifying the UK’s Financial Crime Architecture On 26 January 2026, the Home Secretary published a policing reform white paper that proposed the most significant restructuring of UK law enforcement in nearly two centuries. At its centre was the cre...

The UK government wants to merge the NCA into a new National Police Service. Most firms still cannot explain the difference between regulatory supervision and criminal enforcement.
#FinancialCrime #AML #Sanctions #Compliance #NCA #FCA #OTSI #OFSI #EconomicCrime #RiskManagement #OpusDatum

OFSI Seeks Evidence on Ownership and Control Test OFSI Seeks Evidence on Ownership and Control Test

The Office of Financial Sanctions Implementation #OFSI launched a Call for Evidence on Ownership and Control test in Financial Sanctions Regulations.

OFSI Updates Financial Sanctions Enforcement Guidance OFSI Updates Financial Sanctions Enforcement Guidance

The Office of Financial Sanctions Implementation #OFSI updated its financial sanctions enforcement and monetary penalties guidance.

OFSI Publishes Findings on Cryptoassets Used to Evade Sanctions OFSI Publishes Findings on Cryptoassets Used to Evade Sanctions

The Office of Financial Sanctions Implementation #OFSI and partners have published enforcement findings on the abuse of cryptoassets to evade sanctions.

This Was Never About £160,000: What OFSI’s Bank of Scotland Penalty Really Signals The Office of Financial Sanctions Implementation's £160,000 monetary penalty against Bank of Scotland plc is not significant because of its size, nor because it followed voluntary disclosure. It matte...

OFSI’s £160,000 fine is a warning shot for UK banks, signalling a tougher, more forensic approach to sanctions screening, governance and control effectiveness. wix.to/lAoz2E1
#Sanctions #AML #Compliance #RiskManagement #FinancialServices #OFSI #Regulation

Imposition of monetary penalty: Bank of Scotland PLC OFSI report of penalty for breach of financial sanctions

📣 Significant enforcement action by #OFSI against Bank of Scotland Plc for breaches of Russia sanctions relating to 24 transactions between 8-24 February 2023. The £160k fine followed a 50% reduction due to the “prompt and voluntary disclosure” by Lloyds on behalf its subsidiary:

Trade Sanctions vs Financial Sanctions: The Quiet Fault Line in UK Enforcement Economic sanctions are the sharp edge of modern diplomacy. In a world marked by geopolitical fracture and strategic competition, they function as tools of coercion and containment, targeting adversari...

The UK’s trade and financial sanctions regimes are finally converging as OTSI steps into the spotlight with its first public case study.
#TradeSanctions #FinancialSanctions #LegalFramework #OTSI #OFSI #UKCompliance #Enforcement

OFSI Publishes 2024–2025 Annual Review OFSI Publishes 2024–2025 Annual Review

The Office of Financial Sanctions Implementation #OFSI published its 2024-2025 Annual Review.

👍 After #OFSI’s early struggle to keep up with the rapid rollout of sanctions following Russia’s full-scale invasion of Ukraine, it’s clear that #OFSI is now starting to find its feet as a more credible & proactive enforcer of sanctions. But much more needs to be done to deliver results:

👊 #OFSI is becoming less reliant on self-reports of breaches – an encouraging indication of its more proactive approach to enforcement, with 151 of its 240 live investigations by April 2025 coming from other sources – up from 108 in 2023/24.

📎 The scaling up of #anti-corruption sanctions has gone hand-in-hand with a 169% increase in the number of licences granted by #OFSI for deviations from these restrictions – rising from 16 to 43 over the last year.

OFSI Issues 2025 Frozen Asset Reporting Notice The Office of Financial Sanctions Implementation #OFSI reissued its annual Frozen Asset Reporting Notice for 2025. 

The Office of Financial Sanctions Implementation #OFSI reissued its annual Frozen Asset Reporting Notice for 2025.

OFSI Adds 3 New Questions to Financial Sanctions FAQs The Office of Financial Sanctions Implementation (OFSI) added 3 questions to their Financial Sanctions FAQs.

The Office of Financial Sanctions Implementation #OFSI added 3 questions to their Financial Sanctions FAQs.

The updates aim to clarify General License #GL INT/2025/6641960 relating to brokerage accounts.

⏱️ No doubt #OFSI has had its hands full as UK #sanctions have ramped up following Russia’s full-scale invasion of #Ukraine, but investigations need to be progressed faster in future so lessons can be learned sooner and fines can deter violations more effectively.

🤔 But the timeline is puzzling – the February 2018 breach was disclosed to #OFSI in October 2018 following an internal review at Markom. Yet #OFSI only started investigating in June 2021, and it’s taken 4 years to issue the fine… Why did this take so long?

Penalty issued for breach of Russia Sanctions The Office of Financial Sanctions Implementation (OFSI) has imposed a £300,000 monetary penalty against Markom Management Limited (MML)

💷 A significant £300k fine handed out by #OFSI against Markom Management Limited for the UK-registered financial services firm's involvement in transferring 🇷🇺 RUB 33 million from a company’s Gazprombank bank account to a person sanctioned in response to Russia’s annexation of Crimea 🇺🇦:

The Office of Financial Sanctions Implementation #OFSI published its latest sector threat assessment on Cryptoassets. hubs.li/Q03z1DMB0

❗️ While noting the “drastic” effect of sanctions on individuals, the court accepted that “sanctions often have to be severe and open-ended if they are to be effective”. Their “core needs” can be met through the #OFSI licensing regime even if “luxury lifestyle and expensive education” are disrupted.

🔍 HM Treasury's OFSI has published a Cryptoassets Threat Assessment guide.

Read more: www.linkedin.com/posts/britis...

#CryptoCompliance #FinancialSanctions #OFSI #BlockchainSecurity

OFSI's New Sanctions Threat Assessment for Art Market The Office of Financial Sanctions Implementation released an updated threat assessment for Art Market Participants and High-Value Dealers.

The Office of Financial Sanctions Implementation #OFSI released an updated threat assessment for Art Market Participants #AMPs and High-Value Dealers #HVDs.

OFSI Launches 'Financial Sanctions: The Basics' Video Series The Office for Financial Sanctions Implementation (OFSI) released a video series on key aspects of financial sanctions and reporting.

The Office for Financial Sanctions Implementation #OFSI released a video series on key aspects of financial sanctions and reporting.

New rules for agents come into force - Property Industry Eye New rules for agents come into force - Breaking news for estate agents and the residential property industry. Independent, unbiased, and factual reporting. A forum for discussion and debate of topics of the day. Subscribe for our free daily newsletter.

UK letting agents: New sanctions screening rules start today.

Screen landlords, tenants, beneficial owners vs. UK Sanctions List.

Report positive matches to OFSI immediately.

tinyurl.com/4hzhxp74

#UKLettingAgents #PropertyCompliance #SanctionsScreening #OFSI #UKPropertyLaw

OFSI Releases Threat Assessment for Property and Related Services The Office for Financial Sanctions Implementation (OFSI) released a threat assessment for property and related services.

The Office for Financial Sanctions Implementation #OFSI released a threat assessment for property and related services.

OFSI Publishes Legal Services Sector Threat Assessment The Office for Financial Sanctions Implementation (OFSI) published a legal services threat assessment.

The Office for Financial Sanctions Implementation #OFSI published a legal services threat assessment.

The assessment provides information on suspected sanctions breaches and aims to assist stakeholders in their risk-based approach to compliance.

OFSI Shares Key Lessons After £465K Fine for HSF Moscow The Office for Financial Sanctions Implementation (OFSI) published key lessons for industry following the announcement of a £465,000 fine for HSF Moscow.

The Office for Financial Sanctions Implementation #OFSI published key lessons for industry following the announcement of a £465,000 fine for HSF Moscow.

#UK freezes #Russian assets worth almost $32 billion – #OFSI annual report

On 21 March, the Office of Financial Sanctions Implementation (#OFSI) published its annual report covering #OFSI's activities in the 2023-24 financial year.

It notes that as of March 2024, the #UK government has included

Penalty issued against subsidiary of major law firm for breaches of sanctions linked to Russia’s invasion of Ukraine The Office of Financial Sanctions Implementation (OFSI) has imposed a monetary penalty against Herbert Smith Freehills CIS LLP (“HSF Moscow”).

🔥 LATEST NEWS🔥 Penalty issued against a subsidiary of a major #UK #law firm for breaches of #sanctions linked to # #Russia's invasion of #Ukraine. #OFSI has imposed a monetary penalty against Herbert Smith Freehills CIS LLP ("HSF Moscow") - go.fiu.je/zhy

OFSI Updates Guidance for High-Value Dealers and Art Market Participants The Office for Financial Sanctions Implementation (OFSI) amended their guidance on high-value dealers (HVDs) and art market participants (AMPs).

The Office for Financial Sanctions Implementation #OFSI amended their guidance on high-value dealers #HVDs and art market participants #AMPs.

AML Newsletter📢 AML Newsletter📢

In an evolving world of sanctions why not sign up for a free webinar from SRA on Sanctions looking at the recent updated guidance from OFSI - Find out more from our newsletter

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#sanctions #ofsi #otsi #guidance #trade #finances #risk #kyc #kyb #reporting