Global Investigations Review - The law and practice of international investigations

UK sanctions enforcer announces first major fine

By Michael Griffiths

31 March 2020

UK sanctions enforcer announces first major fine Standard Chartered Hong Kong (Credit: www.istockphoto.com/peeterv)

The UK’s main sanctions enforcer, OFSI, has fined UK bank Standard Chartered £20.47 million for executing loans to a Russian-owned financial institution in breach of EU trade restrictions.