Introduction
An investigation by the Office of Financial Sanctions Implementation (“OFSI”) can be a stressful for you and a potentially damaging experience for your business.
Whether you have received a compliance notice, are under formal investigation, or suspect your business activities might be scrutinised, getting expert help is critical.
A seasoned sanctions lawyer in London can help you understand the process, protect your interests, and guide you to a favourable outcome.
What Triggers an OFSI Investigation?
An OFSI investigation is typically triggered when there is a potential breach of UK financial sanctions. This could include:
- Transactions involving sanctioned individuals or companies;
- A failure to freeze assets as required; and/or
- The late or inaccurate reporting of sanctionable activities.
These investigations can be initiated based on suspicious activity reports (“SAR”s), whistleblower tips, or irregularities flagged in routine audits.
Understanding the OFSI Process
An investigation typically involves requests for documentation, formal interviews, and compliance assessments. Businesses are expected to cooperate fully – but also to protect their rights.
Having a London-based lawyer ensures quick, face-to-face strategic guidance as the process unfolds.
How a Sanctions Lawyer Can Help
- Reviewing Documentation: Ensure your records are complete and properly presented.
- Communicating with OFSI: Handle correspondence and submissions professionally.
- Developing a Defence: Present mitigating circumstances, compliance efforts, or challenge the basis of the investigation if needed.
- Minimising Penalties: Experienced lawyers can often negotiate reductions in fines or avoid them altogether.
Why Location Matters
Choosing a sanctions lawyer in London gives you access to someone familiar with the UK legal landscape, experienced in dealing with regulatory bodies, and available for in-person meetings when necessary.
Proximity matters when you are dealing with time-sensitive legal issues.
Conclusion
An OFSI investigation does not have to derail your business. With early intervention and expert legal representation, you can manage the risks and safeguard your future.
If you are facing an OFSI investigation or want to prevent one, contact our team of experienced sanctions lawyers in London today.
