Financial Services analysis: Sara George, partner and consulting editorial board member of Lexis®PSL Financial Services, Rachpal K Thind, partner, Christopher Lock, counsel, Jonathan Lafferty, senior managing associate, and Louise McCarthy, associate at Sidley Austin LLP, examine the UK’s new approach of strict liability to financial sanction breaches and sets out the powers provided to HM Treasury (HMT) and its Office of Financial Sanctions Implementation (OFSI) under the Economic Crime (Transparency and Enforcement) Act 2022 (EC(TE)A 2022 ).