On 28 January 2026, OFSI announced (see here) strengthened multi agency efforts to counter the abuse of cryptoassets for sanctions evasion and related money laundering activities, highlighting increasing operational coordination across the UK enforcement landscape.
Multi-agency enforcement through the Crypto Cash Fusion Cell
As part of these efforts, OFSI is working with the Crypto Cash Fusion Cell (“CCFC”), a pilot multi‑agency initiative bringing together the National Crime Agency (“NCA”), the Metropolitan Police Service, His Majesty’s Revenue and Customs (“HMRC”), the Financial Conduct Authority (“FCA”), City of London Police, and private sector blockchain analytics partners. The CCFC model enables real-time intelligence sharing and collaborative analysis to identify, understand and respond to criminal abuse of cryptoassets.
This collaboration has already resulted in actions against potential breaches of UK financial sanctions by UK-based individuals, demonstrating that crypto-enabled sanctions evasion will be treated equivalently to violations using traditional financial channels and currencies.
Key takeaways for businesses
- Cryptoassets are firmly within OFSI’s enforcement priorities, and expectations for sanctions compliance now mirror those of the traditional financial sector.
- The CCFC’s integrated operational model increases the likelihood of swift detection and intervention in cases involving crypto-linked sanctions risks.
Looking ahead
OFSI’s participation in the CCFC marks a significant expansion of the UK’s approach to crypto-enabled illicit finance. Firms handling or exposed to digital assets should review their sanctions compliance frameworks to ensure they meet OFSI’s increasingly sophisticated expectations.
