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At the time of writing, Russian forces are active in multiple parts of Ukraine. TMF Group operates out of Kyiv with a team of around fifty people. We have enacted our Business Continuity Plan and moved operations to Poland to minimise disruption to service in Ukraine, while also taking action to protect and support our staff. 

While the events will inevitably cause disruption to our clients’ business, to infrastructure and to aspects of our service, we are doing everything we can to minimise the impact. We have taken action to protect our networks and platforms against cyberattacks. There is also a rapidly evolving set of sanctions targeting Russian individuals and assets. We are monitoring those to ensure compliance teams in all offices remain fully informed. 

You can find more information on Ukraine services, including contact details, and Russia sanctions, in the updates below. We will continue to update this page as the situation evolves.   

I hope that any people you have in the region are safe and that the information on this page gives you some clarity on what TMF Group is doing to protect service levels through this difficult period.

Regards,

Mark Weil
CEO 

4 March 2022: TMF Group exits all Russian clients

TMF Group has today announced its decision to stop services to all Russian clients.

We act as the first line of defence for our clients in ensuring that they meet the standards required of them by regulators. We are also the first line of defence for the jurisdictions we operate in, ensuring that investors, their sources of funding and the structures they use are legitimate. 

We have a global compliance team monitoring and acting on sanctions against Russian individuals and organisations daily. As parties are added to sanction lists, TMF Group immediately suspends any service to them pending a discussion with any relevant regulator to determine the appropriate course of action. So far that has had a limited impact on operations, with only 0.15% of TMF Group mandates affected by sanctions.

TMF Group has an office in Kyiv employing 57 Ukrainian nationals. We are assisting them in every way we can in the most difficult of circumstances. Given the extraordinary situation in Ukraine, TMF Group has made a policy decision in solidarity with the Ukrainian people to exit all work for Russian clients around the world. TMF Group has offices in Russia helping our North American, European and Asian clients operate there and will continue to maintain services to them.

Read the announcement in full. 

 
3 March 2022: Ukraine and Russia latest

We continue to work to ensure the safety of our staff in Ukraine, supporting those who have made their way to neighbouring countries. Our Business Continuity Plan is in operation, with services being provided by our Poland office where possible – see the 25 February Ukraine update below for contact details.

In Russia it is business as usual. Our team continues to offer all services, with experts across practices able to support clients and answer questions about the impact of the current situation as it changes, including that of sanctions levied on individuals and assets.

We continually monitor and maintain our BCP plans across all jurisdictions globally, with more details available in our TMF Group statement of continuity.

25 February 2022: Ukraine latest – service and contact information

The TMF Group office in Kyiv has been closed due to military action. We have moved operations to our offices in Poland as part of our Business Continuity Plan.

Clients can reach us on the following email addresses, depending on the type of service:

You can also contact us on these telephone numbers:

  • Warsaw: +48 22 456 45 00
  • Katowice: +48 32 253 50 70

Technology update

We have taken steps to protect TMF Group’s infrastructure and our clients’ data at the current time.

As a result we have disabled access to all client entities located in Ukraine on the Horizon, HRP Gateway and TMF Group Share (TGS) platforms.

This suspension of access will remain in place until further notice. We are following strict protocols to protect the provision of our services. Please accept our apologies for any inconvenience this may cause.

25 February 2022: Russia latest – sanctions and service information

Sanctions against Russian individuals and assets increased as a result of yesterday’s military action and the situation is fluid, with measures being taken by jurisdictions around the world changing daily.

TMF Group has taken steps to ensure clients remain compliant and safe. We have a dedicated compliance officer in the Group Risk and Compliance department monitoring updates on sanctions hourly with followup screening on the impact for clients.

These updates are tracked in a central tool and all local office compliance teams are being kept fully informed so that the business impact of sanctions on client entities is fully understood and acted on. 

You can find more information on some of the key global sanctions on the following government websites:

European Union: 

United States 

United Kingdom