OFSI publishes privacy policy for persons designated under Russia sanctions
Britain’s Office of Financial Sanctions Implementation (‘OFSI’) has added a ‘Designated persons asset reporting privacy policy’ to its Russia sanctions guidance, with information about the type of personal information collected, how it is used, the lawful basis for processing it, who will have access to it and how long it will be held.
‘Your personal data will only be made available to Economic Crime and Sanctions staff within HM Treasury, who have a business need to see it for the purposes of sanctions implementation and enforcement,’ according to the notice, published 9 January. ‘Personal data may also be shared with third parties for law enforcement purposes,’ it explained.
‘Personal data relating to designated persons is retained for the lifetime of the designation to support future decision making and enforce penalties,’ according to OFSI.
