In this follow-up to our advisory on the OFAC sanctions designations of Rosneft and Lukoil, Global Sanctions Advisor Manmeet Lotay analyses the far-reaching impact of these measures on global sanctions compliance frameworks. The article explores how the SDN listings affect banks, insurers, commodity traders, and shipping companies, outlining practical steps for managing OFAC compliance, mitigating secondary sanctions risk, and strengthening sanctions control systems. A must-read for organisations seeking to stay ahead in today’s evolving financial crime and sanctions enforcement landscape.

The UK’s Office of Financial Sanctions Implementation (OFSI) has released its 2024–25 Annual Review, setting a clear tone for the future of UK sanctions enforcement. As highlighted by Manmeet Lotay, Global Sanctions Advisor at Ferrer Consultancy Services, this year’s review marks a decisive shift toward tougher enforcement, enhanced data capability, and system-wide accountability.

Manmeet’s advisory note provides firms with a practical action checklist — from system transitions and frozen-asset reporting to supply-chain due diligence and board-level oversight — helping organisations future-proof their sanctions compliance frameworks ahead of the UKSL transition.

Money muling is an increasingly common method used by criminal networks to disguise the movement of illicit funds. Raising awareness is essential to preventing exploitation and protecting the integrity of the financial system. This video explains how money muling operates, the risks it poses, and the importance of staying vigilant to avoid becoming involved in financial crime.

On 23 October 2025, the European Union adopted its 19ᵗʰ sanctions package against Russia — marking a major escalation in the EU bloc economic pressure strategy. For the first time, Russian liquefied natural gas (LNG) imports fall under EU sanctions, signalling a decisive shift in the region’s energy policy. The package also expands restrictions on shipping (“shadow fleet” vessels), crypto assets, and third-country entities that enable sanctions evasion, extending compliance exposure far beyond Russia’s borders.

In this detailed analysis, Manmeet Lotay, Global Sanctions Advisor at Ferrer Consultancy Services, unpacks the package’s legal scope, sectoral impact, and strategic implications for organisations. The piece outlines how businesses must adapt — from energy sourcing and vessel screening to crypto compliance and counterparty due diligence — as the EU intensifies enforcement and broadens its definition of sanctions risk.

This article provides actionable insights for compliance teams navigating an increasingly complex sanctions landscape — where early risk assessment and agile adaptation will define resilience.

On 22 October 2025, the U.S. Office of Foreign Assets Control (OFAC) added Russia’s two largest oil producers—Rosneft and Lukoil—to its sanctions list under Executive Order 14024. This move marks a major escalation in the U.S. campaign targeting Russia’s energy sector and carries far-reaching compliance implications for both U.S. and non-U.S. entities. The article analyses the designations, the scope of the 50% ownership rule, the limited relief under wind-down licences, and the practical steps organisations must take to assess and mitigate sanctions exposure across supply chains, contracts, and financial systems.

Enhanced Due Diligence (EDD) plays a crucial role in strengthening the customer due diligence process for UK firms. While standard due diligence provides a foundation for understanding clients and mitigating risk, EDD goes further—requiring a deeper level of scrutiny for higher-risk individuals and entities. It is an essential tool in helping firms meet their regulatory obligations, protect against financial crime, and maintain the integrity of the financial system.

Understanding the source of wealth of an individual is a vital component of effective customer due diligence, particularly within the UK’s regulatory framework. Firms are required to go beyond surface-level checks and adopt a structured methodology to assess how a client has legitimately accumulated their wealth. This process not only ensures compliance with anti-money laundering (AML) obligations but also strengthens trust, transparency, and risk management across financial services.

Economic crime is a growing threat to the UK’s financial sector, with fraud, money laundering, cybercrime, and terrorism financing undermining trust, stability, and economic security. As criminals exploit digital advancements and regulatory gaps, financial institutions face increasing risks, from reputational damage to severe financial penalties. This article explores the impact of economic crime, the rising cyber threat, and the urgent need for stronger compliance, cybersecurity, and global co-operation to protect the UK’s financial services.

The UK financial services sector has faced increasing scrutiny over financial crime in recent years, with regulatory authorities imposing significant fines on institutions failing to comply with anti-money laundering (AML) and financial crime prevention regulations. Analysing both the sum of fines by reason and the number of fines by financial crime category, key trends emerge that highlight shifting enforcement priorities, the biggest compliance risks, and the evolving nature of financial crime oversight