UK's OFSI Releases Annual Review
The United Kingdom's Office of Financial Sanctions Implementation published its 2020-21 annual review, discussing changes to U.K. sanctions made following the nation's departure from the European Union. Key statistics include that 34 autonomous U.K. sanctions regimes entered into force under…
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the Sanctions and Anti-Money Laundering Act 2018; 278 new designated individuals were added to the consolidated sanctions list during fiscal year 2020-21; 48 individuals and entities were delisted during the period of review; and 43 new specific licenses were issued by OFSI. Also, £12.2 billion (equivalent to nearly $16.8 billion) in frozen funds were reported to be held by U.K. firms as of September 2020.