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UK practice compliance weekly highlights: Russia crypto sanctions; OFSI cryptoasset reporting; EU anti-fraud partnership; corporate criminal liability reform (CPA 2026); AI misuse censured by EWHC - 28 May 2026

Published on: 28 May 2026

Published by a LexisNexis Practice Compliance expert
Legal News
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In this issue:

  • Sanctions
  • Fraud
  • Other financial crime
  • Artificial intelligence
  • Daily and weekly news alerts
  • Horizon scanning
  • Trackers
  • New and updated content

Sanctions

FCDO announces Russia sanctions targeting crypto exchanges and A7 network

The Foreign, Commonwealth and Development Office (FCDO) announced a suite of UK sanctions aimed at cryptocurrency exchanges and the Kremlin-backed ‘A7 network’, which Russia has used to sidestep existing curbs and funnel money into its war economy in Ukraine. The package seeks to counter Russia’s growing reliance on ‘dark networks and shadow financial systems’ to circumvent restrictions and interrupt the movement of funds. The measures include 18 designations striking at Russia’s illicit financial architecture, covering A7-associated persons, a Kyrgyz lender alleged to process payments for the network, and three Georgian firms running Russia-facing exchanges that attempt to dodge sanctions. The A7 network is characterised as a mechanism built to evade Western measures, fund military procurement, and handle proceeds from oil sales, and is reported to have moved more than USD90 billion in the past year...

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