{"id":874,"date":"2025-03-21T12:27:03","date_gmt":"2025-03-21T16:27:03","guid":{"rendered":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/?p=874"},"modified":"2025-04-03T09:19:35","modified_gmt":"2025-04-03T13:19:35","slug":"united-kingdom-enforcement-update-from-the-ofsi-annual-report-for-2023-24","status":"publish","type":"post","link":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/2025\/03\/21\/united-kingdom-enforcement-update-from-the-ofsi-annual-report-for-2023-24\/","title":{"rendered":"United Kingdom &#8211; enforcement update from the OFSI annual report for 2023\/24"},"content":{"rendered":"\n<p>OFSI has <a href=\"https:\/\/assets.publishing.service.gov.uk\/media\/67dc3abcc5528de3aa671215\/OFSI_Annual_Review_2023-24.pdf?utm_content=&amp;utm_medium=email&amp;utm_name=&amp;utm_source=govdelivery\">published its annual report<\/a> for the year 2023\/2024.<\/p>\n\n\n\n<p>The report provides the following data:<\/p>\n\n\n\n<p>2021\/22 &#8211; 147 investigations opened (and 101 closed);<\/p>\n\n\n\n<p>2022\/23 &#8211; 473 investigations opened (and 74 closed); and<\/p>\n\n\n\n<p>2023\/24 &#8211; 396 investigations opened (and 242 closed).<\/p>\n\n\n\n<p>Of the 396 investigations opened in 2023\/24, 288 were as a result of self-reporting with 108 opened through pro-active investigation or other means. <\/p>\n\n\n\n<p>Further, OFSI&#8217;s report gives a break down of which sanctions regimes the investigations relate to:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>347 to Russian sanctions;<\/li>\n\n\n\n<li>21 to Libyan sanctions;<\/li>\n\n\n\n<li>9 to Iran sanctions; and<\/li>\n\n\n\n<li>19 across the other regimes.<\/li>\n<\/ul>\n\n\n\n<p>The report also gives a break down of the 242 investigations closed during the year of the report:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>133 closed with a finding of no breach and sending a &#8220;No Further Action&#8221; letter;<\/li>\n\n\n\n<li>18 closed with a finding there was a breach and sending a &#8220;Warning&#8221; letter;<\/li>\n\n\n\n<li>1 closed with a finding of a breach and a referral to a regulator;<\/li>\n\n\n\n<li>1 closed with an OFSI public disclosure;<\/li>\n\n\n\n<li>61 closed without a final determination that there was a breach and sending a &#8220;No Further Action&#8221; letter; and<\/li>\n\n\n\n<li>28 investigations closed for &#8220;Other&#8221; reasons.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>OFSI has published its annual report for the year 2023\/2024. The report provides the following data: 2021\/22 &#8211; 147 investigations opened (and 101 closed); 2022\/23 &#8211; 473 investigations opened (and 74 closed); and 2023\/24 &#8211; 396 investigations opened (and 242 closed). Of the 396 investigations opened in 2023\/24, 288 were as a result of self-reporting &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/2025\/03\/21\/united-kingdom-enforcement-update-from-the-ofsi-annual-report-for-2023-24\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;United Kingdom &#8211; enforcement update from the OFSI annual report for 2023\/24&#8221;<\/span><\/a><\/p>\n","protected":false},"author":656,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[79,95,2],"tags":[20,43,67,18,9],"ppma_author":[7],"class_list":["post-874","post","type-post","status-publish","format-standard","hentry","category-79","category-95","category-general","tag-financial-sanctions","tag-iran","tag-libya","tag-russia","tag-united-kingdom"],"authors":[{"term_id":7,"user_id":656,"is_guest":0,"slug":"mhandley","display_name":"Mark Handley","avatar_url":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-content\/uploads\/sites\/65\/2023\/09\/handleymark-100x100.jpg","0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":"","8":""}],"_links":{"self":[{"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/posts\/874","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/users\/656"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/comments?post=874"}],"version-history":[{"count":0,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/posts\/874\/revisions"}],"wp:attachment":[{"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/media?parent=874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/categories?post=874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/tags?post=874"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/ppma_author?post=874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}