World ECR | UK concierge service fined for breaches
Home > information > UK concierge company fined for breaching Ukraine-related sanctions The UK Office for Financial Sanctions Implementation (OFSI) has fined Integral Concierge Services Ltd (ICSL) £15,000 for providing services to designated persons in breach of financial sanctions against Russia. OFSI said in a statement on September 27 that the fine relates to property management services provided by ICSL to designated persons subject to the asset freeze, without disclosing the identities of the sanctioned persons. “Between 2022 and 2023, ICSL made or received 26 payments in relation to services they provided to designated persons, despite knowing or having reasonable grounds to suspect that the payments breached UK financial sanctions,” the report said. The person punished did not report the case to OFSI, but it was the result of an active investigation.” The penalty demonstrates OFSI's clear commitment to pursuing violations of financial sanctions wherever they occur, the release added. OFSI says everyone, from the largest institutions to the smallest,…
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