OFSO has published its Annual Report for 2024-2025.
This includes the following figures:
- 57 “enforcement actions” which includes fines, disclosures, warning letters and referrals to regulators;
- 2 fines during the period (there have been more since), although it adds that “many cases under active investigation are expected to come to decision points in 2025-2026”;
- As at April 2025 OFSI had 240 “active cases under investigation”;
- Of the 394 new cases in 2024-2025, 180 were not the result of a self report (i.e. these cases were the result of pro-active investigation).
- Of these 394, most were in the financial services sector (142), with the legal sector providing the next most (46);
- Very few investigations concerned either manufacturing (8) or the maritime sector (7)
- 329 of the new cases concerned the UK’s Russian sanctions;
- OFSI closed 214 cases during the annual period.