The Buck (Rouble) Stops Here
Suzanne Oliver
![Suzanne Oliver]()
Suzanne Oliver
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Keeping aware of the UK governments?sanctions imposed in?response to Russia
Keeping aware of the UK governments?
sanctions imposed in?response to Russia's
invasion of Ukraine
is a responsibility for?all?UK business
The legislation that these sanctions?hang?on,
is the?2018 Ant?Money Laundering Act.
So far, in 2022, there have been seven amendments.
It seems possible,?that there will be more, while?this
?tragic conflict is ongoing.
Prompted??by?attending an online seminar about Navigating Russian Sanctions.
My key take aways are:
ONE
That the Office of Financial Sanctions of Implementation (OFSI)
which comes under the auspices of The Treasury,
is the?gateway government department for implementing sanctions.
https://www.gov.uk/government/organisations/office-of-financial-sanctions-implementation
It would?be worthwhile to subscribe to free e-mail alerts from them
to keep up-to-date with all the changes:
https://public.govdelivery.com/accounts/UKHMTREAS/subscriber/new
TWO
Know your customer (and maybe your suppliers).
Using Onifido, helps companies to validate identity.
https://onfido.com/resources/blog/what-is-kyc?
I am not sure that?many?event businesses
have an anti money laundering policy;
although many do have?anti fraud.
Currently King's College London is reviewing its's?
Anti Money Laundering Policy.
https://www.kcl.ac.uk/governancezone/finance/anti-money-laundering-policy
Policy won't work without the process (action) to support them.
As ever, London venues provide services at?the heart of where peoples interests are,
with the Royal United Services Institute Land Warfare conference taking place
at Church House Westminster on Tuesday 28 and Wednesday 29 June.
https://rusi.org/events/martial-power-conferences/rusi-land-warfare-conference-2022
It is my deepest?hope, that this?escalating conflict in Ukraine, will be over, well before then.