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Practice Compliance update: OFSI penalty and general licences, AML implementation, property payment fraud alerts, LeO decisions, SME cyber attacks, ASA 'no win, no fee' ads, and litigation conduct risks

Published on: 02 October 2025

Published by a LexisNexis Practice Compliance expert
Legal News
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Article summary

In this issue:

  • Sanctions
  • AML, CTF & counter-proliferation financing
  • Other financial crime
  • Data protection
  • Cybersecurity
  • Other Practice Compliance updates this week
  • LexTalk®Practice Compliance: a Lexis®Nexis community
  • Daily and weekly news alerts
  • Trackers
  • New and updated content

Sanctions

OFSI issues £152,750 penalty on Colorcon for Russia sanctions breaches

OFSI has fined Colorcon Limited, a UK-registered subsidiary of Colorcon Inc. and supplier to the pharmaceutical industry, £152,750 for breaching the Russia (Sanctions) (EU Exit) Regulations 2019. The matter concerns 79 payments totalling £128,277.72 made by Colorcon’s Moscow office to accounts at designated Russian financial institutions, contrary to the UK financial sanctions linked to Russia’s illegal invasion of Ukraine in 2022. Although 44 payments fell within General Licence INT/2022/2055384 before it expired, Colorcon did not fulfil the licence’s reporting duties and continued making transactions after expiry. OFSI assessed the case as serious, citing weak internal controls, delayed disclosure, and reliance on third‑party screening without verification. Due to voluntary disclosure a 35% discount was applied to the penalty, reduced from the maximum 50% because of a four‑month delay in reporting...

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