Aziz Rahman explains the measures in the sanctions Red Alert issued by the NECC and OFSI

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)

Featured at: Thomson Reuters