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Sunny Mann

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On 5 August 2021, the Office of Financial Sanctions Implementation (“OFSI”) imposed a GBP 50,000 penalty on TransferGo Limited (“TransferGo”), a UK FinTech company, for breaching UK sanctions when it issued instructions to make payments to accounts held at the Russian National Commercial Bank (“RNCB”), a designated party. Between 20 March 2018 and 18 December 2019, TransferGo issued instructions to make 16 payments into accounts held at RNCB, the total value of which was…

Following the successful launch of our inaugural virtual Annual Compliance Conference in 2020, attracting close to 2,500 in-house senior legal and compliance professionals from across the world, we will return this year in a virtual format to deliver our cutting-edge insights and guidance on key global compliance issues, as businesses and enforcement agencies transition to a new post-pandemic global compliance and investigations landscape. Held across five weeks from 6 September – 8 October 2021, we…

On 12 July the European Commission and the European External Actions Service (EEAS) published guidance on “due diligence for EU businesses to address the risk of forced labour in their operations and supply chains”. The non-binding guidance seeks to provide European companies with practical advice on the implementation of effective human rights due diligence practices to address forced labour risks in their supply chains. It also provides an overview of international standards and principles on…

On 19 July, the UK Office of Financial Sanctions Implementation (“OFSI”) issued a general licence (available here) that permits payments by UK air carriers and aircraft operators to Belarus’ air traffic control service Belaeronavigatsia, an entity designated under the UK’s sanctions against Belarus.  The licence permits payments to Belaeronavigatsia for air traffic services provided pursuant to an emergency situation (being a situation requiring an aircraft to land in or overfly Belarus to avoid endangering the…