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<p>The Office of Financial Sanctions Implementation (OFSI) was established on 31 March
2016. Prior to the establishment of OFSI there were 441 reports of suspected breaches
to HM Treasury between September 2013 and December 2015.</p><p> </p><p>As of 7 March
2018, 107 cases reported to OFSI in 2016 have been determined as breaches, with an
approximate aggregate value of £281 million. Some cases reported to OFSI in 2016 are
still under investigation and therefore this figure may be subject to change.</p>
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