The dynamic nature of sanctions regimes and regulations poses a continuous challenge for businesses to stay abreast of the latest updates, particularly for those with global operations and engaged in cross-border transactions. This course is specifically designed to address these challenges by providing delegates with a comprehensive understanding of key sanctions regulations issued by the United Nations (UN), European Union (EU), and the Office of Foreign Assets Control (OFAC). Additionally, delegates will gain valuable insights into identifying and managing potential risks associated with customers, third parties, and transactions. The course will equip delegates with practical guidance on implementing effective name and transaction screening procedures, enabling them to navigate sanctions compliance with confidence.

What will you learn?

  • Types of sanctions and nature of sanctions and requirements of the various sanctions regimes
  • Overview of key sanctions lists; the United Nations (UN), European Union (EU), and the Office of Foreign Assets Control (OFAC).
  • Overview of selected country specific programmes for Iran, Syria, North Korea & Russia.
  • Latest political and regulatory developments in the sanctions landscape and how to mitigate it.
  • Sanctions screening controls to identify sanctions targets; name and transactions screening procedures (cross-border payments, Trade documents and payable through accounts)
  • Sanction compliance: oversight, escalations processes and reporting potential breaches. The implications of Sanctions violations for the business and individuals (staff).
  • Case study– true-life material on sanctions violation to raise an awareness of the processes involved in ‘sanctions busting’ i.e., sanctioned entities trying to circumvent the sanctions restriction.

Who is the course for?

Course is design for all employees of banks, FinTechs, payment institutions, money services businesses, law and accounting firms, real estates, and other regulated businesses to help ensure compliance with sanctions regulations and prevent inadvertent engagement with prohibited entities or activities. Interested?
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