Practice Compliance weekly highlights—7 December 2023

Table of contents

• Financial sanctions
• Government publishes guidance on ownership and control in sanctions regulations
• NCA issues red alert on Russia’s attempts to circumvent sanctions and FCDO announces new sanctions
• Banking tycoon loses EU Russia sanctions challenge
• US Department of the Treasury OFAC announces additional sanctions on price caps
• AML, CTF & counter-proliferation financing
• The Law Society publishes addendum to AML guidance for legal sector
• HM Treasury provides update on additions and removals to high risk third countries list
• Other financial crime
• HMRC’s £585m DPA signals a new bribery cop in town

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Article summary

This week's edition of Practice Compliance weekly highlights includes: government guidance on ownership and control in sanctions regulations, an NCA red alert on sanctions circumvention, an LSAG addendum to the AML guidance for legal sector, updates to the high-Risk Countries list, and an ICO consultation on AI guidance and toolkits.