CryptoSlate reported that the UK's National Crime Agency (NCA) has ordered banks, payment processors, and cryptocurrency firms to review transactions related to the A7 payment network, which has been identified as being used to evade Russian sanctions. UK authorities believe A7 has been used to move funds from Russian clients overseas via financial institutions in third countries or international payment networks. Accordingly, relevant companies must verify counterparties, wallets, and remittance routes connected to A7. The UK government is also pushing to increase the maximum civil penalty for financial sanctions violations from the current £1 million ($1.35 million) or 50% of the violation amount to £2 million ($2.7 million) or 100% of the violation amount.
