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OFSI Details Compliance Failures Behind £160,000 Bank of Scotland Fine, Emphasizes Lessons for Sanctions Enforcement
Officials from the Office of Financial Sanctions Implementation (OFSI) have returned to the enforcement action against Bank of Scotland Plc, providing a detailed breakdown of the compliance lapses that resulted in a £160,000 fine. The case, linked to the UK’s Russia sanctions regime, underscores how even minor technical oversights in screening processes can allow sanctioned individuals to move capital undetected. By analyzing failures in automated systems and internal escalat
3 hours ago4 min read
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