Financial Compliance sanctions check
Sanctions Legislation in the UK Financial Sectors
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The Treasury imposes monetary penalty :-
Raphaels Bank - £5,000 penalty
Telia Carrier UK Limited - £146,341 penalty
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The UK government imposes financial restrictions on persons and entities as part of its domestic counter-terrorism regime, as well as those persons proscribed by the United Nations and/or European Union.
Our services allow you to check your clients against these sanctions lists and assess dealing with any clients as a result of a careful consideration of your firm's risk profile and client demographic, rather than through a lack of understanding of your obligations and the risks posed to your firm.
Under The Al Qaida and Taliban (United Nations Measures) Order 2006 and the Terrorism (United Nations Measures) Order 2006, it is a criminal offence for any natural or legal person to:
- deal with the funds of designated persons, or
- make funds and economic resources available, directly or indirectly for the benefit of designated persons.
Under the Terrorism (United Nations Measures) Order 2006, you must not make financial services available, directly or indirectly to or for the benefit of designated persons.
Finally, you must not knowingly and intentionally participate in activities that would directly or indirectly circumvent the financial restrictions or enable, or facilitate the commission of any of the above offences.
Checks are compiled using data supplied by
HM Treasury
Office of Financial
Sanctions Implementation
EU
Service for Foreign
Policy Instruments
US Treasury
Office of Foreign
Assets Control