According to an announcement on December 5, the UK Office of Financial Sanctions Implementation (OFSI) updated its guidance on multiple sanctions regimes to strengthen its enforcement capabilities and strengthen compliance monitoring.
The changes are made under the Sanctions (EU Exit) (Miscellaneous Amendments) (No. 2) Regulations 2024 and are intended to “enhance OFSI’s ability to gather intelligence on industry compliance with financial sanctions, strengthen OFSI’s enforcement powers and enable OFSI to It will be able to carry out its licensing responsibilities more effectively and clarify uncertainties surrounding financial sanctions legislation, the office said.
The updated guidance covers multiple sanctions programs, including Russia, Belarus, Iraq, Sudan, Libya, Syria, Nicaragua, Venezuela, Zimbabwe, Guinea, Haiti, Somalia, Lebanon, Myanmar, Central African Republic, cyber sanctions, counterterrorism, global human rights , global corruption, unauthorized drilling, Iran nuclear sanctions, and more.
https://www.gov.uk/search/all?organizations()=office-of-financial-sanctions-implementation&order=updat ed-newest&parent=office-of-financial-sanctions-implementation
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