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United Kingdom

UK Risk & Compliance: Russia crypto sanctions; OFSI cryptoasset licence update; EU joins fraud partnership; Crime and Policing Act 2026 expands corporate liability; plus horizon scanning, trackers and content updates

Published on: 28 May 2026

Published by a LexisNexis Risk & Compliance expert
Legal News
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Article summary

Risk & Compliance weekly highlights-28 May 2026

In this issue:

  • Sanctions
  • Fraud
  • Other financial crime
  • 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) has unveiled a fresh UK sanctions package aimed at cryptocurrency exchanges and the Kremlin-backed ‘A7 network’, which Russia uses to evade existing measures and channel funds into its war economy against Ukraine. The actions are intended to curb Russia’s growing reliance on ‘dark networks and shadow financial systems’ to sidestep controls and disrupt related financial flows. The package introduces 18 designations against Russia’s illicit financial infrastructure, covering A7-linked individuals, a Kyrgyz bank suspected of processing payments for the network, and three Georgian firms operating Russia-focused exchanges seeking to avoid sanctions. The A7 network is described as a system built to circumvent Western sanctions, fund military procurement and move proceeds from oil sales, and is reported to have transferred more than USD90 billion in the last year...

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