Enforcement of financial sanctions
Actions taken by the Office of Financial Sanctions Implementation (OFSI) to enforce financial sanctions.
OFSI is responsible for monitoring compliance with financial sanctions and for assessing suspected breaches. It also has the power to impose monetary penalties for breaches of financial sanctions and to refer cases to law enforcement agencies for investigation and potential prosecution.
Breaches of financial sanctions are a serious criminal offence.
OFSI鈥檚 assessment of breaches is informed by our approach to financial sanctions enforcement: promote, enable, respond, change.
For more information on OFSI鈥檚 enforcement approach please read the Enforcement and Monetary Penalties Guidance
Enforcement Actions
Details of actions OFSI has taken as part of its enforcement of financial sanctions can be found below.
Svarog Shipping & Trading Company Limited
Herbert Smith Freehills CIS LLPP (HSF Moscow)
Integral Concierge Services Limited
| Date | 08 May 2025 |
|---|---|
| Sector | Maritime |
| Penalty | 拢5,000 |
| Reason | Failure to respond to Requests for Information |
| Regulations | The Russia (Sanctions)(EU Exit) Regulations 2019 |
| Date | 20 March 2025 |
|---|---|
| Sector | Legal |
| Penalty | 拢465,000 |
| Reason | Making funds available for the benefit of a designated person without a licence |
| Regulations | The Russia (Sanctions)(EU Exit) Regulations 2019 |
| Date | 14 March 2025 |
|---|---|
| Sector | Non profit |
| Penalty | Disclosure |
| Reason | Failure to respond to Requests for Information |
| Regulations | Regulation 36 (6) of the Counter Terrorism (International Sanctions) (EU Exit) Regulations 2019 |
| Date | 27 September 2024 |
|---|---|
| Sector | Property |
| Penalty | 拢15,000 |
| Reason | Dealing with funds owned by a designated person, and making funds available for the benefit of a designated person without a licence |
| Regulations | The Russia (Sanctions)(EU Exit) Regulations 2019 |
Wise Payments Limited
| Date | 31 August 2023 |
|---|---|
| Sector | FinTech |
| Penalty | Disclosure |
| Reason | Making funds available to a designated person without a licence |
| Regulations | The Russia (Sanctions)(EU Exit) Regulations 2019 |
| Date | 27 September 2022 |
|---|---|
| Sector | Hospitality |
| Penalty | 拢30,000.00 |
| Reason | Receiving funds and economic resources from a designated person without a licence and making economic resources available to a designated person without a licence |
| Regulations | Ukraine (European Union Financial Sanctions) (No.2) Regulations 2014 (鈥渢he UK Regulations鈥�) and Council Regulation (EU) No 269/2014 (Ukraine Misappropriation and Human Rights) |
| Date | 19 May 2022 |
|---|---|
| Sector | Energy |
| Penalty | 拢15,000.00 |
| Reason | Making funds available for the benefit of a designated person without a licence |
| Regulations | The Syria (European Union Financial Sanctions) Regulations 2012 |
| Date | 25 June 2021 |
|---|---|
| Sector | FinTech |
| Penalty | 拢36,393.45 |
| Reason | Making funds available for the benefit of a designated person without a licence |
| Regulations | The Ukraine (European Union Financial Sanctions) (No. 2) Regulations 2014 |
| Date | 25 June 2021 |
|---|---|
| Sector | FinTech |
| Penalty | 拢50,000.00 |
| Reason | Making funds available to a designated person, without a licence |
| Regulations | The Ukraine (European Union Financial Sanctions) (No. 2) Regulations 2014 |
| Date | 18 February 2020 |
|---|---|
| Sector | Banking |
| Penalty | 拢20.47m (拢7.69m & 拢12.77m) |
| Reason | Making funds available to a designated person, without a licence |
| Regulations | EU Council Regulation 833/2014, Ukraine (European Union Financial Sanctions) (No.3) Regulations 2014 |
| Date | 09 September 2019 |
|---|---|
| Sector | Telecommunications |
| Penalty | 拢146,341.00 |
| Reason | Making economic resources available to a designated person, without a licence |
| Regulations | Council Regulations (EU) No 36/2012 enforced by the Syria (European Union Financial Sanctions) Regulations 2012 (S.I. 2012 No 129) |
| Date | 08 March 2019 |
|---|---|
| Sector | Financial Services |
| Penalty | 拢10,000.00 |
| Reason | Dealing with funds belonging to a designated person, without a licence |
| Regulations | Council Reg (EU) 270/2011 Egypt (S.I 2011/887) |
| Date | 21 January 2019 |
|---|---|
| Sector | Banking |
| Penalty | 拢5,000.00 |
| Reason | Dealing with funds belonging to a designated person, without a licence |
| Regulations | Council Reg (EU) 270/2011 Egypt (S.I 2011/887) |
Updates to this page
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Svarog Shipping & Trading Company Limited notice added.
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Added HSF notice.
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Charities disclosure report added.
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Integral Concierge Services Limited monetary penalty added
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A disclosure notice has been published for a breach of financial sanctions regulations by Wise Payments Limited.
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Monetary Penalty notice for Hong Kong International Wine and Spirits Competition Ltd (鈥淗KIWSC鈥�), 27/09/22 added
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Updated with Tracerco monetary penalty
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Updated with Clear Junction monetary penalty report
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Updated with 25 June 2021 Monetary Penalty
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Updated with 18 February 2020 report
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Added monetary penalty report for Telia Carrier UK Limited.
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We have added a report to the table.
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First published.