UK PARLIAMENT QUESTION ON SANCTIONS BREACHES

On 10th February the European Sanctions Blog reported on the answer to a written question in the House of Commons.  This included the information that a total of 118 suspected breach cases were reported to HM Treasury’s Office of Financial Sanctions Implementation (OFSI) during 2017, and the approximate aggregate value of [those] suspected breaches was £117 million.  Furthermore, as of April 2017, a total of 84 suspected breaches were reported to OFSI since it gained the ability to impose monetary penalties under the Policing and Crime Act 2017.

www.parliament.uk/business/publications/written-questions-answers-statements/written-question/Commons/2018-02-05/126717/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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