UK sanctions regime introduces new weapon to combat extraterritorial corruption

On 26 April 2021, the UK Government introduced the Global Anti-Corruption Sanctions Regulations 2021, the latest addition to the autonomous sanctions regime which came into effect on 31 December 2020.  Although closely aligned with U.S. Magnitsky Act, this is yet another reminder that businesses seeking to comply with global sanctions regimes will need to review their sanctions systems and controls to ensure compliance, being mindful of the differences across the UK, US, and EU regimes post-Brexit.