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UK’s OFSI Imposes First Monetary Penalty for Breach of Sanctions
4 March 2019
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On 21 January 2019, the Office of Financial Sanctions Implementation (“OFSI”) imposed a monetary penalty of £5,000 against Raphaels Bank for breaching EU sanctions against Egypt.
This marks the first time that OFSI has used its ability to impose civil fines for breaches of financial sanctions.
White Collar & Regulatory Defense
International Economic Sanctions & OFAC Compliance
Satish M. Kini
UK Modern Slavery Act Transparency Statement
Debevoise Women's Review