The FSA has published a report from its Financial Crime and Intelligence Division entitled Financial services firms’ approach to UK financial sanctions (the Report). The Report sets out the FSA’s findings of firms’ performance in meeting the financial crime requirements in relation to UK financial sanctions.
The Report concludes that there are inadequacies in firms’ systems and controls to reduce the risk of a breach of UK financial sanctions in all size of firms across all financial sectors. Many firms need to enhance their systems and controls and small firms in particular should improve their awareness of the UK financial sanctions regime.
View Financial services firms’ approach to UK financial sanctions, (PDF 356KB), 27 April 2009