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UK practice compliance update: sanctions enforcement changes, OFSI licence revocations, anti‑corruption drive, SFO whistleblower rewards call, legal aid fraud sentence, data bill and AI liability, LeO complaints data.

Published on: 12 December 2024

Published by a LexisNexis Practice Compliance expert
Legal News
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Article summary

In this issue:

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

Financial sanctions

FCDO and OFSI revise sanctions statutory guidance notes to reflect changes to OFSI enforcement powers. The Foreign, Commonwealth and Development Office (FCDO) and the Office of Financial Sanctions Implementation (OFSI) have refreshed the statutory guidance notes on UK sanctions regimes under the Sanctions and Anti-Money Laundering Act 2018 (SAMLA 2018) to align with the Sanctions (EU Exit) (Miscellaneous Amendments) (No 2) Regulations 2024 (SI 2024/1157). The update enhances OFSI’s capacity to obtain intelligence on industry adherence to financial sanctions and reinforces its enforcement powers. See: LNB News 05/12/2024 37.

OFSI repeals general licences permitting payments to regulatory authorities and regulators. OFSI has published a list of General Licences relating to payments made to various regulatory bodies that have all now been revoked, including INT/2024/4836676, INT/2023/3626884, INT/2023/3781228 and INT/2024/4881897. See: LNB News 06/12/2024 33.

OFAC sanctions parties linked to a money laundering network. The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on 28 individuals and businesses involved in a Zimbabwe-based global gold smuggling and money laundering network...

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