Tag Archives: OFSI

NEW SANCTIONS REPORTING REQUIREMENTS FOR NON-FINANCIAL SECTOR BUSINESSES

With effect from 8 August, the Government has introduced significant new reporting requirements in relation to EU asset freeze regimes. Previously, only businesses in the financial sector were subject to the obligations, found in UK financial sanctions instruments, to report … Continue reading

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Filed under Corporate Crime, Sanctions and Money Laundering, UK

New UK financial sanctions enforcement powers come into force

On 1 April 2017, Part 8 of the Policing and Crime Act 2017 (the “Act”) came into force, introducing new powers for HM Treasury’s Office of Financial Sanctions Implementation (“OFSI”) to enforce financial sanctions in the UK.

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Filed under Corporate Crime, Sanctions and Money Laundering, UK