UK Sanctions Violations Drop In Value Over Past Year

Law360, London (October 10, 2019, 6:27 PM BST) -- The U.K.’s sanctions enforcer said Thursday that the estimated value of reported breaches of sanctions has fallen from a peak of more than £1 billion ($1.2 billion) last year to just over £250 million this year.

The Office of Financial Sanctions Implementation, or OFSI, received 99 reports of suspected breaches totaling about £262 million between 2018 and 2019, according to its annual review. The figure is down from 122 suspected breaches between 2017 and 2018, with a reported value of about £1.35 billion.

The sanctions enforcer, an independent offshoot of HM Treasury set up in 2016 to increase awareness of and...

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