Author: Azizur Rahman 3 August 2022
The decision by the National Crime Agency’s National Economic Crime Centre (NECC) and OFSI (the Office of Financial Sanctions Implementation) to issue a sanctions evasion Red Alert prompted Aziz Rahman to write an article.
Aziz’s piece, which was published by Thomson Reuters’ Regulatory Intelligence, detailed the contents of the Alert and the reasons for it.
The Alert, he says, focuses on how designated persons and entities may try to bypass the effect of sanctions imposed on them. It can be seen as an attempt by the authorities to cut off the routes to sanctions evasion that such people may look to use.
It has been produced as a form of practical advice for the UK’s regulated companies and emphasises the need to assess carefully corporate structures when conducting enhanced due diligence for high-risk clients.
The Alert, Aziz believes, is both timely advice and a sign that the regulators have a clear idea of the tactics that may be used by those who seek to avoid the impact of sanctions.
Aziz's article featured on Thomson Reuters Regulatory Intelligence. (Subscription required)
Aziz Rahman is Senior Partner at Rahman Ravelli and its founder. His ability to coordinate national, international and multi-agency defences has led to success in some of the most significant corporate crime cases of this century and top rankings in international legal guides. He is recognised worldwide as one of the most capable legal experts regarding top-level, high-value commercial and financial disputes.