I would recommend this site, FFP has been completely tightened, if you are found out you will lose your advantage - there simply is no more cheating it:
http://www.financialfairplay.co.uk/financial-fair-play-explained.php
But what are the potential punishments? Previously the Football League has only been able to either; fine promoted clubs (a fine the Premier League didn’t help them collect), or impose a transfer embargo for historic overspending (which always like a stable-door/horse scenario). With this change, a wide range of punishments are now available. Nothing is off the table; the Football League are now able to impose a points deduction during the current season, or demote a club from an automatic promotion position into the play-offs (or out of the play-offs altogether). Transfer embargoes are also available (with the earliest one potentially applying during the Summer 2017 Transfer window