Office of Financial Sanctions Implementation OFSI
Who they are
The Office of Financial Sanctions Implementation (OFSI) was established in March 2016 and is part of HM Treasury. OFSI was established administratively as part of HM Treasury, and its statutory authority, enforcement powers, and legal frameworks are derived from three primary pieces of UK legislation.
- The Policing and Crime Act 2017 (Section 146)
- The Sanctions and Anti-Money Laundering Act 2018 (SAMLA)
- The Economic Crime (Transparency and Enforcement) Act 2022
What they do
OFSI works to improve understanding, implementation and enforcement of financial sanctions in the United Kingdom. OFSI aims to:
- raise awareness of and compliance with financial sanctions
- rapidly detect, respond to and address financial sanctions breaches
- provide a professional service to businesses and others affected by financial sanctions
In doing so, it helps to:
- ensure that financial sanctions make the fullest possible contribution to the UK’s foreign policy and national security goals
- maintain the integrity of, and confidence in, the UK financial services sector
Enforcement by this regulator
The latest 10 of 23 — see all 23 on the Enforcement tab.
| Date | Entity | Action | Penalty | Source |
|---|---|---|---|---|
| 2 Sep 2026 | Citibank, N.A., London Branch (bank) | Monetary Penalty | 4,732,831 GBP | source |
| 17 Jun 2026 | Sabre Global Technologies Limited (technology company) | Monetary Penalty | 1,000,921 GBP | source |
| 19 May 2026 | Deutsche Bank AG London Branch (bank) | Monetary Penalty | 165,000 GBP | source |
| 30 Mar 2026 | Apple Distribution International Limited (technology company) | Monetary Penalty | 390,000 GBP | source |
| 26 Jan 2026 | Bank of Scotland PLC (bank) | Monetary Penalty | 160,000 GBP | source |
| 30 Sep 2025 | Colorcon Limited (pharmaceutical company) | Monetary Penalty | 152,750 GBP | source |
| 8 Sep 2025 | Vanquis Bank Limited (bank) | Disclosure | — | source |
| 31 Jul 2025 | Markom Management Limited (management company) | Monetary Penalty | 300,000 GBP | source |
| 8 May 2025 | Svarog Shipping & Trading Company Limited (maritime company) | Monetary Penalty | 5,000 GBP | source |
| 20 Mar 2025 | Herbert Smith Freehills CIS LLP (law firm) | Monetary Penalty | 465,000 GBP | source |
Latest news
No news tagged to this regulator yet.