Global sanctions rules are increasing rapidly, as are tools to detect and punish those who break them. In response, the U.K. government is creating a new Office of Trade Sanctions Implementation (OTSI) to investigate and penalize those who break sanctions rules. The consequences can be financial and even criminal, as well as causing reputational damage, loss of professional status, or being barred from practicing.
Former Conservative sanctions minister Anne-Marie Trevelyan announced the creation of the OTSI last December, saying that it would “further strengthen the U.K.’s sanctions system and allow us to maximise the impact that trade sanctions have on those who continue to flout the global rules.”
