Herbert Smith Freehills, a global law firm, faced a penalty of £465,000 imposed by the British government after its Moscow office made several payments totaling £3.9 million to sanctioned Russian banks. These transactions occurred during the closure of HSF Moscow, which was finalized after Russia's invasion of Ukraine. The law firm's difficulties stemmed from inadequate due diligence and sanctions screening processes, leading to this violation. Despite the fine, Herbert Smith emphasized that these payments were a result of human error and did not involve client work or other offices globally.
Herbert Smith Freehills (HSF) was fined £465,000 by OFSI for six payments totaling £3.9 million to sanctioned Russian banks, blamed on human error.
The payments were made during the final week of HSF Moscow’s operations, and included redundancy payments that violated UK sanctions on Russia.
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