Wise Payments in breach of UK Russia sanctions - disclosure, no fine

A UK£250 cash withdrawal from a Wise Payments Ltd business account on a debit card in the name of a designated person under UK's The Russia (Sanctions) EU Exit Regulations 2019 has resulted in the first exercise of its Disclosure power by the Office of Financial Sanctions Implementations (OFSI).

A UK£250 cash withdrawal from a Wise Payments Ltd business account on a debit card in the name of a designated person under UK's The Russia (Sanctions) EU Exit Regulations 2019 has resulted in the first exercise of its Disclosure power by the Office of Financial Sanctions Implementations (OFSI). [1] The breach was not deemed sufficiently serious to warrant a financial penalty.