Article summary
The Office of Financial Sanctions Implementation (OFSI) has released its annual review 2023-2024, reporting that £25bn of Russian assets have been frozen since February 2022 and there have been 396 enforcement cases. The review details OFSI's first proactive monetary penalty, use of its disclosure power, and first counter-terrorism designation as well as that staff numbers have increased to 135, while 564 new designated persons were added to sanctions lists. The report highlights enhanced enforcement capabilities and expanded international cooperation.
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