United Kingdom – Page 8 – European Sanctions Enforcement

May 14, 2019March 15, 2024 by Mark Handley

UK – HMRC imposes fine on UK person for unlicensed exports

Her Majesty’s Revenue & Customs (HMRC) has today published details of a compound penalty of £10,234.26 imposed on a UK exporter/trader.

The penalty was in relation to unlicensed trading of body armour. The goods were not exported from the UK, but the transaction involved a UK national.

The Notice to Exporters noted that the Export Control Order 2008 requires a trade control licence when certain goods are exported from a country other than the UK, and that exporters should be aware that trafficking and brokering military goods outside the UK will need a trade control licence, even if the goods do not pass through the UK.

April 9, 2019March 15, 2024 by Mark Handley

UK – FCA imposes fine of £102m

The UK’s Financial Conduct Authority has issued a Decision Notice against Standard Chartered Bank including a fine of £102,163,200.

The fine related to KYC failings in general, with a focus on failure to conduct customer due diligence even in situations where sanctions red flags were evident. The FCA noted a lack of financial crime risk, and concerns as to the quality of the advice being given.

A particular focus were the UAE branches of the bank, and also export financing in relation to the export of military goods.

April 3, 2019March 15, 2024 by Mark Handley

UK – HMRC fines exporter £82,152.33

The UK’s HMRC has today announced that it has fined a UK exporter £82,152.33 for the unlicensed exports of military goods.

The identity of the exporter, and of the destination for the goods, were not published.

March 8, 2019March 15, 2024 by Mark Handley

UK – OFSI imposes further financial penalty

OFSI has today imposed a £10,000 penalty on Travelex Limited in relation to a £204 transaction involving the funds of a designated person.

This penalty is factually related to the same transaction as was the subject of OFSI’s first penalty.

While the fine itself is very small, that OFSI has imposed a fine in relation to such a small transaction is perhaps itself of significance.

January 25, 2019March 15, 2024 by Mark Handley

UK – HMRC compound penalties for three companies for export control breaches

It has been announced today that the UK’s HM Revenue & Customs has issued compound penalties ranging between £1,000 and £4,000 to 3 separate UK Exporters.

These related to unlicensed exports of dual use goods and export breaches controlled by The Export Control Order 2008.

January 21, 2019March 15, 2024 by Mark Handley

UK – OFSI imposes its first ever financial penalty

The UK’s Official of Financial Sanctions Implementation has today imposed its first financial penalty.

The penalty relates to a single transaction of £200 relating to funds of a designated person under the Egyptian sanctions.

The bank, Raphaels Bank, self reported to OFSI.

The initial fine was £10,000 reduced to £5,000 in acknowledgment of the self-reporting.

November 27, 2018March 15, 2024 by Mark Handley

UK – company pleads guilty and is fined £7,039

It has been reported today that the British company, VWR International Limited, has pleaded guilty to four counts of exporting dual-use chemicals and metals to Pakistan, Jordan and South Africa.

The exports were undertaken either without a licence or despite being denied an export licence.

The company was fined £7,039.

November 22, 2018July 24, 2024 by Mark Handley

UK – three convicted of exporting military goods to Iran

Following a trial at Southwark Crown Court three individuals have been convicted of exporting parts for military aircraft to Iran in breach of sanctions.

Alexander George was given a custodial sentence of 2 and a half years, while Paul Attwater and Iris Attwater were sentenced to suspended sixth months in prison.

The shipments were sent in the name of a BVI company, via, Netherlands, Malaysia and Dubai, but were destined for Iran.

June 6, 2018March 15, 2024 by Mark Handley

United Kingdom – regulated bank fined £896,100 for sanctions failings

The UK’s Financial Conduct Authority has today issued a Final Notice against Canara Bank.

The bank was fined £896,100 and prevented from accepting deposits from new customers for 147 days.

The fine relates to inadequacies in the bank’s KYC compliance including sanctions screening. The bank cooperated with the FCA and qualified for a 30% discount on the fine.

April 25, 2018March 15, 2024 by Mark Handley

UK – company pleads guilty to exporting dual-use goods

The UK’s HMRC has prosecuted Carbosynth Limited to the unlicenced export of various chemicals on the dual-use and military lists to Japan, India, South Korea, Israel, the USA, Germany and Canada.

The company was fined £4,269.96.