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UK law firm compliance weekly: sanctions risks, SFO ‘failure to prevent fraud’, EU AI Act procurement, DSAR exemption ruling, Cyber Governance Code, modern slavery and ethics — 10 April 2025

Published on: 10 April 2025

Published by a LexisNexis Practice Compliance expert
Legal News
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Article summary

In this issue:

  • Financial sanctions
  • Other financial crime
  • Data protection
  • Cybersecurity
  • Other Practise
  • Compliance updates this week
  • Daily and weekly news alerts
  • Trackers
  • New and updated content

Financial sanctions

Lessons to be learnt from HSF Moscow sanctions penalty

The Office of Financial Sanctions Implementation (OFSI) earlier imposed a £465,000 penalty on Herbert Smith Freehills CIS LLP (HSF Moscow) for breaching UK financial sanctions on Russia. In a blog, OFSI sets out what other organisations should take away from the case. It pinpointed insufficient due diligence and weak sanctions screening as central factors, and flagged three key compliance takeaways: grasp your sanctions risk exposure; follow internal procedures; and rigorously assess ownership and control arrangements. See: LNB News 07/04/2025 48.

OFSI releases Legal Services Threat Assessment Report on sanctions risks

OFSI has published its Legal Services Threat Assessment Report, analysing the threats and vulnerabilities linked to UK financial sanctions in the legal sector. The 24-page report fulfils a commitment under Economic Crime Plan 2 to provide sector-specific guidance, supporting legal sector stakeholders in building risk-based approaches to sanctions compliance. See: LNB News 03/04/2025 32...

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