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Financial Crimes › Office of Financial Sanctions Implementation (OFSI) › Beneficial Owner

K&L Gates LLP

What Legal Services Providers Need to Learn From OFSI's Legal Services Threat Assessment

K&L Gates LLP on

In its first-ever threat assessment of the UK legal sector, the UK’s Office of Financial Sanctions Implementation (OFSI) has raised red flags with regards to suspected sanctions breaches involving UK legal services providers...more

WilmerHale

Sanctions, Fraud is Coming to Town: 2022 in Review

WilmerHale on

In 2022, the UK was forced to reckon with the charge of being soft on economic crime and being the destination of choice for kleptocrats seeking to launder their ill-gotten funds. No longer able to turn a blind eye to these...more

Latham & Watkins LLP

The Economic Crime (Transparency and Enforcement) Act 2022 Receives Royal Assent

Latham & Watkins LLP on

New legislation introduces further sanctions powers and aims to tackle financial crime by revealing identities of overseas beneficial owners of UK property. Following the UK government’s successive sanctions packages,...more

WilmerHale

The new Economic Crime Bill: can it deliver on its promises?

WilmerHale on

On March 1, 2022, the UK Government put forward the Economic Crime (Enforcement and Transparency) Bill. The stated aim of the legislation is to “crack down on dirty money in the UK and corrupt elites”, and it is designed to...more

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