Policy & Compliance
UK reveals investigations into Russian sanctions breaches
B IFA regularly receives interest that the UK’s economic secretary to the Treasury has provided a written answer on the UK parliament website to the question: “How many investigations by the Of fi ce of Financial Sanctions Implementation (OFSI) into breaches of Russian sanctions (a) are open and (b) have been undertaken since February 2022?” Total cases enquiries about Russian sanctions, so we noted with The answer stated that 388 cases have been investigated by OFSI and subsequently closed since February 2022, and that another 318 investigations are currently open. This is a total of 706 investigations opened by the OFSI into potential or alleged breaches of Russian sanctions in the UK since February 2022. In that time the OFSI has
imposed two fines in relation to Russian sanctions and disclosed one other breach by Wise Payments Limited. This means that 385 of OFSI’s investigations opened since February 2022 into breaches of
Russian sanctions were closed without further action. Back in April 2023, the OFSI was reporting it had 172 live cases ongoing, indicating that there has been a significant increase since then.
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Date
Venue
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Davies Turner & Co Ltd, Bristol
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The Nest, Manchester
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Venue TBC
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Reporting Freight Related Crime to Border Force – Operations Pegasus and Pandora Please note that there are different numbers for air and ocean. Border Force has confirmed that all reports will be treated in the strictest confidence. Air Contact Numbers Tel: 0203 196 2456 (0700-2000) Tel: 0203 014 5604 (24-hours) Crimestoppers: 0800 555111 or 101 quoting reference Pegasus Ocean Contact Numbers Tel: 01394 303 116 (Office hours) Tel: 07920 587808 (24-hours) Quoting the reference Pandora.
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