Lloyds subsidiary fined £160,000 for Putin ally sanctions breach Banking A subsidiary of Lloyds Banking Group has been fined for sanctions breaches after it opened a bank account for an ally of Russian President Vladimir Putin. Bank of Scotland, a subsidiary of Lloyds since 2009, was fined £160,000 by the Office of Financial Sanctions Implementation (OFSI) on Monday for breaching Russian sanctions. Although not named [...]
City law firm fined over £400,000 for Russian sanctions breaches Legal Law firm Herbert Smith Freehills was hit with a £465,000 penalty after breaching UK financial sanctions imposed on Russia