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Financial Sanctions

OFSI Publishes Details of Frozen Asset Reporting for Financial Year 2022-23

Posted by: , Posted on: - Categories: Financial Sanctions, Frozen Assets, Implementation, Statistics

On 14 December 2023, the Office of Financial Sanctions Implementation (OFSI) published its Annual Review for the financial year 2022 to 2023 containing reporting on assets frozen under UK financial sanctions regulations. This blog explains more about the two separate reporting …

An Update to our Licensing Process: Returning Incomplete Applications

Posted by: , Posted on: - Categories: Financial Sanctions, Implementation, Licensing

In response to the illegal invasion of Ukraine, the UK introduced the largest and most severe package of economic sanctions that Russia has ever faced. As a result, the Office of Financial Sanctions Implementation (OFSI) continues to experience unprecedented high …

Trust Services Sanctions – 5 months on

Posted by: , Posted on: - Categories: Compliance, Enforcement, Financial Sanctions, Licensing, Russia, Uncategorized

The trust services sanctions came into effect on 16 December 2022. These are financial sanctions, for which the Office of Financial Sanctions Implementation (OFSI) is responsible, while the Department for Business and Trade is responsible for professional and business services …