Financial sanctions: Russia and your AML responsibilities

Following the UK government’s imposition of sanctions on Russia, you all have a vital role to play in ensuring all measures and restrictions are complied with.

It is important to understand how sanctions work, who is sanctioned, and when a licence is required.

Breaching the financial sanctions requirements can result in criminal prosecution or a fine by the Office of Financial Sanctions Implementation (OFSI). All regulators are working together to ensure those firms and/or the individuals they regulate, comply with the law and regulations and meet our Codes of Conduct.

Please visit our financial sanctions web page for more detail.