UK financial sanctions guidance

Financial Services Threat Assessment Report added.

Oil Price Cap (OPC) Advisory: Evasion Linked to Product Origin Manipulation link added.

New guidance for Insolvency Practitioners and Letting Agents added. Guidance for High Value Dealers updated.

Advisories section added. North Korean IT Workers Advisory added.

In line with our announcement of 13 February 2024, the Financial Sanctions Guidance for Ransomware has been converted from PDF to a digital format.

The Enforcement and Monetary Penalties Guidance has been updated. This update communicates that OFSI will now always apply the most recent iteration of its Enforcement guidance to cases. Chapter 3 of the guidance, which covers case assessment, gives details on the change. Other updates are also primarily to Chapter 3. The guidance now better explains how we apply and split the ‘case factors’ that OFSI uses to assess suspected breaches of financial sanctions. It introduces two new distinct case factors, “Knowledge, intention and reasonable cause to suspect” and “Cooperation” that were previously included more generally in the guidance. Chapter 6 also includes a small edit to the delegation of ministerial reviews of monetary penalties.

OFSI have launched FAQs to provide short and technical guidance.

OFSI has published its refreshed guidance for the maritime shipping sector.

OFSI Travel Guidance moved from 'thematic' subsection, to 'licensing - supportive guidance' subsection.

Licensing principles and framework link added to general guidance subsection, providing detail on the delegated decision making authority and associated principles.

Added translation