OFSI | AMLP Forum

OFSI fines Citibank £4.73M for multiple UK financial sanctions breaches involving £19.72M in payments, flagging weaknesses in sanctions screening, alert handling and account restrictions

by AdrianaAMLP | Sep 2, 2026

The breaches involved 970 payments worth £19.72 million, including transactions involving designated Russian entities and individuals. OFSI identified weaknesses in sanctions screening, alert handling, account restrictions and staff decision-making, with delays and...

OFSI extends the Lukoil International General Licence to Feb 2027, expanding covered subsidiaries and adding notification requirements while keeping sanctions and asset-freezing restrictions in place

by AdrianaAMLP | Aug 12, 2026

OFSI amended its Russia sanctions general licence on 12 August, broadening the definition of covered Lukoil International subsidiaries, introducing a new notification requirement for entities using the licence and extending its duration by six months. A related...

OFSI warns of scams impersonating the sanctions authority to demand payments, crypto transfers, or fees to release frozen funds, urging users to verify communications and report suspicious activity

by AdrianaAMLP | Jul 24, 2026

The guidance explains how businesses and individuals can assess emails, letters and other communications claiming to come from the Office of Financial Sanctions Implementation. OFSI clarifies that it will never request payments, charge a fee for a licence or ask for...

OFSI and OFAC publish comparative guide outlining key similarities and differences between UK and U.S. sanctions regimes, covering sanctions lists, licensing, reporting and recordkeeping

by AdrianaAMLP | Jul 22, 2026

The guidance, published on 23 June 2026, compares key aspects of the two sanctions systems, including organisational responsibilities, legal frameworks, sanctions terminology, jurisdictional reach, prohibited activity, permitted activity and reporting obligations. It...

OFSI updates its UK Financial Sanctions FAQs, providing greater clarity on sanctions compliance, licensing and reporting obligations for regulated firms

by Jyotsna Bucktowar | Jul 21, 2026

The latest update introduces new guidance on the Basic Needs Allowance (BNA) licence, explaining how designated persons may access limited frozen funds for essential living expenses, how spending limits are applied, and when separate licences may be required. The FAQs...

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OFSI fines Citibank £4.73M for multiple UK financial sanctions breaches involving £19.72M in payments, flagging weaknesses in sanctions screening, alert handling and account restrictions

OFSI extends the Lukoil International General Licence to Feb 2027, expanding covered subsidiaries and adding notification requirements while keeping sanctions and asset-freezing restrictions in place

OFSI warns of scams impersonating the sanctions authority to demand payments, crypto transfers, or fees to release frozen funds, urging users to verify communications and report suspicious activity

OFSI and OFAC publish comparative guide outlining key similarities and differences between UK and U.S. sanctions regimes, covering sanctions lists, licensing, reporting and recordkeeping

OFSI updates its UK Financial Sanctions FAQs, providing greater clarity on sanctions compliance, licensing and reporting obligations for regulated firms

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