On 1 April 2017, Part 8 of the Policing and Crime Act 2017 came into force, which gives HM Treasury in the UK a number of new sanctions enforcement powers. In particular:
- HM Treasury is now able to impose civil monetary penalties (fines) for breaches of financial sanctions and for information breaches. The maximum is £1 million or 50% of the estimated value of the funds or economic resources, whichever is greater;
- New UN financial sanctions listings have direct effect in the UK;
- The maximum penalty for financial sanctions breaches has been increased from 2 to 7 years;
- Financial Sanctions have been brought into the scope of Deferred Prosecution Agreements and Serious Crime Prevention Orders.