On 31 March the Government announced the Office of Financial Sanctions Implementation (OFSI) has been created within HM Treasury. The Government says that OFSI will provide a high-quality service to the private sector, working closely with law enforcement to help ensure that financial sanctions are properly understood, implemented and enforced.
Details of UK Financial Sanctions, including the consolidated list of financial sanctions targets, can be found on the OFSI website[1].
OFSI maintain an email alerts system for any updates to the financial sanctions regime in the UK. If you are not already signed up you can do so via this form[2].
If you need to contact OFSI their contact details are:
Office of Financial Sanction Implementation
HM Treasury
1 Horse Guards Road
London
SW1A 2HQ
Email: [email protected]
Enquiries relating to asset freezing or other financial sanctions should be submitted to the Office of Financial Sanctions Implementation.
Our Financial Crime guide[3] also provides examples of good and poor practice in relation to developing and maintaining financial crime systems and controls including compliance with Financial Sanctions.