( May 28, 2026, 12:47 GMT | Official Statement) -- MLex Summary: UK financial firms must do more to prevent sanctions breaches, the Financial Conduct Authority has said. The FCA found that most reported sanctions breaches were due to weaknesses in due diligence, alert management, transaction and name screening, as well as the management of frozen assets and compliance with licenses. The FCA found that reports from firms continue to relate primarily to the Russian sanctions regime, but there are also reports relating to Libya, Iran and North Korea.Statement is attached....
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