British Authorities Fine Raphaels Bank GBP £200 for Sanctions Breach

The British Authority for the Implementation of Financial Sanctions (OFSI) has amerced Raphaels Bank £5,000 for processing funds in the amount of GDP £200 related to the Egyptian economic sanctions aim. It is the first time OFSI impose a financial penalty for the violation of financial sanctions using its civil enforcement powers under the Policing and Crime Act 2017.

 

 


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