The UK’s HMRC has today announced compound penalties imposed on four exporters. Two related to military goods and two to dual-use goods.
The exporters were not named.
The penalties imposed were:
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-
- £4,100
- £2,912.16
- £217,012.50
- £920,437.20
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UK – extradition request for man withdrawn by US
Further to our earlier post, the US authorities have now withdrawn the extradition request for Graham Bonham-Carter.
He had been arrested as part of an extradition request in October 2022, but that request has now been withdrawn.
UK – four exporters fined over £3.5m for unlawful exports
The UK’s HMRC has today announced the imposition of compound penalties on four UK exporters. Those companies were not named.
Little information is provided but the exports were all either dual-use goods or military goods.
The compound penalties which were imposed between November and December 2022, were:
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-
- £745,620
- £994,074.74
- £1,000
- £1,883,442.
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United Kingdom – FCA fines bank £4m for sanctions failings
The UK’s Financial Conduct Authority has issued a Final Notice to Al Rayan Bank PLC in relation to its failings with customer due diligence, including a lack of due diligence documentation for customers linked to sanctioned countries, or the lack of appropriate enhanced due diligence.
The bank was fined £4,023,600.
United Kingdom – FCA fines bank £7.6m for sanctions compliance failings
The UK’s Financial Conduct Authority has issued a Final Notice against Guaranty Trust Bank (UK) Limited.
The fine was £7,671,800.
The reported failings include a lack of screening against OFSI’s Consolidated List despite policies and procedures requiring such screening. Thousands of accounts had also been established in a way that screening was only done at onboarding and not periodically. Further 90% of resolved sanctions “hits” did not include information or documents demonstrating the basis for the resolution.
UK – twelve compound penalties announced for unlicensed exports
The UK’s HMRC has today announced penalties imposed on twelve exporters. The exporters are not named and the details of the offending are limited but the exports all related to either dual-use or military goods.
The penalties imposed were:
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-
- £105,895.05
- £271,700.25
- £2,700
- £1,000
- £19,637.84
- £6935.44
- £9,828.83
- £19,689.20
- £56,708.71
- £2,700
- £8,664.81
- £5,300
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UK – National Crime Agency arrests three for possible sanctions breaches
The UK’s National Crime Agency has announced the arrest of three individuals on suspicion of various offences including sanctions breaches.
The individuals were not named.
UK – National Crime Agency claims 100 “disruptions”
The National Crime Agency has today claimed to have undertaken 100 “disruptions” since the uptick in Russian sanctions following the large-scale invasion of Ukraine.
The NCA stated:
“To date, the NCA has secured nearly 100 disruptions – actions that demonstrably remove or reduce a criminal threat – against Putin-linked elites and their enablers.
These include a number of Account Freezing Orders (AFOs) over accounts held by individuals who are closely linked to sanctioned Russians. The Cell has also investigated and taken discreet action against a significant number of elites who impact directly on the UK, as well as targeting less conventional routes used to disguise movements of significant wealth, such as high value asset sales via auction houses.
Internationally, the NCA’s work has assisted in the freezing of numerous properties, eight yachts and four aircraft, and it continues to work in concert with the Office of Financial Sanctions Implementation to ensure that other assets in the UK are frozen, as well as with global partners to target illicit wealth held abroad”.
Jersey – sanctions investigation raids admitted as unlawful
Further to our earlier post, the Jersey authorities have admitted that the raids conducted in relation to an investigation involving Roman Abramovich had been conducted unlawfully.
Compensation has also been agreed.
UK – law firms being investigated for sanctions breaches
It has been reported today that the UK’s Office of Financial Sanctions Implementation and the English Solicitors Regulation Authority are actively investigating a number of law firms for suspected sanctions breaches.
The law firms were not named.