The Office of Financial Sanctions Implementation (OFSI) has released updated guidance covering their compliance and enforcement approach and how they will assess whether to apply a monetary penalty, among other things. Financial Institutions who operate in the UK should review this guidance and update their Sanctions Risk management/internal incident response procedures if necessary.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/968229/MP_guidance_April_2021.pdf