British authorities have imposed fines on companies that conceal information about their links to Russia. Its size will rise to one million pounds sterling, according to the document published on the government website.
If a company suspects that it has funds or economic resources in favor of “prohibited persons”, including the Central Bank of Russia, the Ministry of Finance, the National Social Welfare Fund, etc., then, according to the new rules, it must immediately report this to the UK Treasury.
Information on the nature, amount or quantity of the funds or economic resources held by the company must be provided no later than October 31 of each calendar year.
Those who conceal such data are subject to a fine of £1 million or half the value of any funds or financial resources that the agency was not informed of.
Author:
Karina Pardaeva
Source: RB
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