The Office of Financial Sanctions Implementation (OFSI), part of HM Treasury, enables financial sanctions to make the fullest possible contribution to the UK’s foreign policy and national security goals. It also helps to maintain the integrity of, and confidence, in the UK financial services sector.
This guidance describes OFSI’s 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