UK Financial Sanctions Guide
What are Financial Sanctions?
Financial Sanctions are controls put in place by the UK, EU and UN that are intended to achieve specific Foreign Policy objectives. Financial Sanctions are often imposed as a means of limiting financial services and restricting access to financial markets for targeted individuals and entities. They can however be used more broadly to coerce a regime or individuals within a regime towards better behaviour.
Who are responsible for imposing Sanctions?
The UK, EU and UN independently maintain and impose financial sanctions. The UK Treasury maintain a consolidated list of Financial Sanction targets, we provide a free Sanction Search Tool that can assist those regulated businesses with Customer Due Diligence (CDD) and general Anti-Money Laundering (AML).
There are a number of Government Agencies that are involved with implementing and enforcing Financial Sanctions.
- Foreign & Commonwealth Office (FCO) - Negotiation of International sanctions
- HM Treasury (HMT) - Implements sanctions and impose monetary penalties
- HM Revenue & Customs (HMRC) - Enforces breach of trade sanctions
- Home Office - Maintain travel bans
- National Crime Agency (NCA) - Investigate breaches of Financial Sanctions
Recent Support Articles
- 17 May 2018 - Company Incorporation Wizard - Terms and Conditions
- 17 May 2018 - Terms and Conditions