Sanctions Breaches and Fines
The Bank of Scotland OFSI Penalty and Compliance Lessons On 10 November 2025, the Office of Financial Sanctions Implementation imposed a £160,000 monetary penalty on Bank of Scotland for breaching the United Kingdom’s Russia financial sanctions regime. The penalty was published by OFSI on 26 January 2026 and highlights key sanctions screening and escalation failures […]
UK Sanctions Update: Moving to a Single UK Sanctions List
What Compliance Teams Need to Know About the January 2026 Change On Wednesday, 28 January 2026, the UK government implemented a significant change to how sanctions designations are published and maintained. UK sanctions designations are now issued through a single authoritative source, the UK Sanctions List, published by the Foreign, Commonwealth and Development Office. This […]
