OFSI fines TransferGo £50,000 for Russian National Commercial Bank transactions

HM Treasury has upheld OFSI’s decision to impose a £50,000 penalty on TransferGo Limited for breaches of Regulation 4 of The Ukraine (European Union Financial Sanctions) (No. 2) Regulations 2014. Notice and Report. TransferGo issued instructions for 16 payments to be made to the Russian National Commercial Bank (RNCB) accounts of individuals resident in Crimea; the payments were sent between …

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About Maya Lester QC

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Maya Lester QC is a senior barrister (Queen’s Counsel) at Brick Court Chambers with a wide-ranging practice in public law, European law, competition law, international law, human...

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