Financial sanctions—offences
Produced in partnership with Roger Matthews of Dentons and John Binns of BCL Solicitors LLP

The following Corporate Crime practice note produced in partnership with Roger Matthews of Dentons and John Binns of BCL Solicitors LLP provides comprehensive and up to date legal information covering:

  • Financial sanctions—offences
  • Offences relating to financial sanctions
  • Scope of financial sanctions offences
  • Key definitions
  • Exclusions and defences
  • Licences
  • Exceptions
  • Defences
  • Penalties for breach of financial sanctions

Financial sanctions—offences

Sanctions and Anti-Money Laundering Act 2018 (SAMLA 2018) created a UK specific framework for the implementation and enforcement of international sanctions in the UK with the purpose of facilitating the UK's continued compliance with international law post-Brexit and ensures that the UK has flexibility in the future to adopt or amend sanctions quickly.

The substantive UK sanctions regimes have been introduced through secondary legislation and SAMLA 2018 makes provision for regulations to be made on the enforcement of any prohibition or requirement imposed by a regulation. See Practice Notes: The UK sanctions framework under SAMLA 2018 and UK sanctions regimes currently in force.

Regulations made under SAMLA 2018:

  1. create criminal offences, for the purposes of the enforcement of prohibitions or requirements, or for the purposes of preventing such prohibitions or requirements from being circumvented, and

  2. include provisions dealing with matters relating to any offences created for such purposes by regulations (including provisions creating defences)

SAMLA 2018 allows for maximum sentences of up to ten years, but sanctions regulations typically provide for seven years.

See further, Practice Note: The UK sanctions framework under SAMLA 2018—Enforcement of UK sanctions—offences and penalties.

Regulations may also provide for exceptions and licences, see Practice Notes: Licences and exemptions in financial sanctions and The UK sanctions framework under SAMLA 2018—UK sanctions—exceptions and licences.

As ministers have the power to make key pieces

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