Guidance

Monetary penalties for breaches of financial sanctions

Government processes on the issue of monetary penalties for breaches of financial sanctions.

From:
HM Treasury and Office of Financial Sanctions Implementation
Published
3 April 2017
Last updated
3 May 2024 鈥� See all updates

Documents

Enforcement and monetary penalties guidance: 2 May 2024

/government/publications/financial-sanctions-enforcement-and-monetary-penalties-guidance/financial-sanctions-enforcement-and-monetary-penalties-guidance

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Details

The Office of Financial Sanctions Implementation (OFSI) helps to ensure that financial sanctions are properly understood, implemented and enforced in the United Kingdom.

This guidance describes OFSI鈥檚 processes and considerations in relation to the issue of monetary penalties for breaches of financial sanctions, including:

  • the case assessment process
  • penalty calculation process
  • procedural rights

Previous versions of guidance are attached here for reference for historical cases.

The current guidance applies from 15 June 2022 鈥� it is applicable for all cases where OFSI becomes aware of a potential breach after 15 June 2022.

Updates to this page

Published 3 April 2017
Last updated 3 May 2024 show all updates

  1. HTML version of financial sanctions enforcement and monetary penalties guidance added.

  2. OFSI has published updated enforcement and monetary penalty guidance.

  3. Removed 15 June dates on new guidance

  4. Updated with OFSI enforcement guidance June 2022

  5. Updated with Monetary Penalty guidance

  6. Attached monetary penalty guidance 2018-21

  7. Updated monetary penalty guidance

  8. Updated with latest version of 'Monetary penalties for breaches of financial sanctions: guidance'

  9. Updated PDF 鈥� cover picture added

  10. First published.

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