HM Treasury has published its Anti-money laundering and counter-terrorist finance supervision report 2014-15. This report includes a number of case studies of good practice by individual supervisors, which demonstrate approaches that effectively and efficiently manage risk. http://bit.ly/22vlfZz

The Home Office and HM Treasury have jointly published an action plan for anti-money laundering and counter-terrorist finance. The plan sets down four priorities and nineteen actions to tackle money laundering and counter terrorist finance. Read more: http://bit.ly/1DYJsZH

The Summer Budget 2015 contained a commitment to significantly revamp the UK’s approach to the implementation and to the enforcement of financial sanctions, at both the administrative and legislative level. These changes have now begun to be introduced, through the creation of the Office of Financial Sanctions Implementation (“OFSI”) within Her Majesty’s Treasury (“HMT”) and […]

On 5 April 2016, HM Treasury updated the guide to the approach of the Office of Financial Sanctions Implementation (OFSI) to financial sanctions when it issues licences and considers compliance. The updated guide is not legal advice but simply a guide to the approach which the Office of Financial Sanctions Implementation (OFSI) takes when issuing […]

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HM Treasury has changed the way it delivers its updates regarding financial sanctions in effect in the United Kingdom. HM Treasury now sends email updates from: hmt.financialsanctions@public.govdelivery.com General enquiries about financial sanctions, licences, notification/authorisations, frozen assets, and reports should be sent to: financialsanctions@hmtreasury.gsi.gov.uk For updates, new users can sign up here

WILL THIS MEAN BETTER GUIDANCE, INCREASED PENALTIES AND MORE ENFORCEMENT? On 8 July 2015, the UK government published its Summer Budget 2015. Deep in the detail of the supporting policy decisions, at paragraph 2.185, the government announced its plans to establish a new “Office of Financial Sanctions Implementation”. The new office, which is to be […]

THE HM Treasury has issued a guidance note on operating within the UK’s counter-terrorism legal framework, which includes sanctions measures. Although the guidance note is aimed at Non-Governmental Organisations (NGOs) it is relevant to other sectors. Like other guidance on sanctions and related measures previously issued by HM Treasury, the guidance note is neither applicable […]