news2
UK Sanctions: New Starter Guide and Reporting Tool
The UK’s Office of Financial Sanctions Implementation (OFSI) has released a new starter guide to help businesses understand and comply with UK sanctions. Alongside this, OFSI has launched an online service for reporting suspected sanctions breaches.
What’s in the Starter Guide?
Designed for businesses, the guide provides clear information on:
• Who is subject to UK sanctions
• Types of sanctions and the UK’s sanctions regimes
• How to search the UK sanctions lists
• Requirements for due diligence, including assessing ownership and control
• Licensing, exceptions, and compliance obligations
• Penalties for non-compliance or sanctions evasion
New Sanctions Breach Reporting Service
OFSI’s new digital reporting tool makes it easier to submit suspected sanctions breaches directly to the relevant government authorities.
The UK’s Office of Financial Sanctions Implementation (OFSI) has released a new starter guide to help businesses understand and comply with UK sanctions. Alongside this, OFSI has launched an online service for reporting suspected sanctions breaches.
What’s in the Starter Guide?
Designed for businesses, the guide provides clear information on:
• Who is subject to UK sanctions
• Types of sanctions and the UK’s sanctions regimes
• How to search the UK sanctions lists
• Requirements for due diligence, including assessing ownership and control
• Licensing, exceptions, and compliance obligations
• Penalties for non-compliance or sanctions evasion
New Sanctions Breach Reporting Service
OFSI’s new digital reporting tool makes it easier to submit suspected sanctions breaches directly to the relevant government authorities.
