On 31 August 2023, the UK Office of Financial Sanctions Implementation (OFSI) used its new disclosure enforcement power for the first time, issuing a report against Wise Payments.
Introduction - Since the Russian invasion of Ukraine in February 2022 the UK has introduced an unprecedented number and variety of sanctions. The FCA has recently assessed the sanctions.
On 31 August 2023, the UK Office of Financial Sanctions Implementation (OFSI) used its new disclosure enforcement power for the first time, issuing a report against Wise Payments.
On August 31, in coordination with the Republic of Korea (South Korea) and Japan, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctioned two individuals.