Mitigating Sanctions & Compliance Risks across the MENA Region
August 5, 2020 @ 3:00 pm - August 6, 2020 @ 5:00 pm
Webinar (Online Training)
Background
As evolving geopolitical risks permeate the MENA region, adhering to the various sanctions regimes administered by supranational organizations like UN, EU, & OFAC becomes more complex and challenging. Whether comprehensive, targeted or sectoral, managing sanctions risks remains a top of priority for financial institutions if they are to avoid the burden of heavy penalties and reputational harm. This webinar is expected to provide attendees with the necessary tools and insights on how to design appropriate sanctions compliance program and then align this program with the risk appetite, and geographic foot print of their institution. Topics to be addressed include sanctions due diligence, sanctions evasion techniques, delisting, characteristics of various sanctions regimes, licensing, screening challenges, sanctions investigations process, and EU and U.S sanctions frameworks.
Topics to be discussed
AML/CFT Compliance risks and Sanctions risks: divergence or convergence!
The new De-risking wave: cutting financial life lines of respondents
How nesting activities and downstream correspondent services contribute to heightened sanctions evasion risks!
The 4 components of Sanctions risk
Scratching below the surface to identify UBOs
EU VS U.S Treasury OFAC’s BRO identification & SCP:
Similarities & differences
Ownership thresholds, aggregate rule and sanctions by extension
Wire stripping risks from within and without
Implementing the Travel Rule to mitigate sanctions violations as payments pass through toll gates
Regulatory expectations
Initiating a sanction investigation process
Alert management, nature of hit generated (true match, false +ve, false -ve, true negative), discounting the alert or escalating the case
Asset blocking and asset seizure: regulatory requirements and international best practices
Licensing, permitted activity, and authorized transactions
Bank’s risk appetite & Ownership of the sanctions risk: Role of the board of directors and senior management
Internal reporting, training, and creating a compliance and corporate governance culture
Webinar (Online Training)
Background
As evolving geopolitical risks permeate the MENA region, adhering to the various sanctions regimes administered by supranational organizations like UN, EU, & OFAC becomes more complex and challenging. Whether comprehensive, targeted or sectoral, managing sanctions risks remains a top of priority for financial institutions if they are to avoid the burden of heavy penalties and reputational harm. This webinar is expected to provide attendees with the necessary tools and insights on how to design appropriate sanctions compliance program and then align this program with the risk appetite, and geographic foot print of their institution. Topics to be addressed include sanctions due diligence, sanctions evasion techniques, delisting, characteristics of various sanctions regimes, licensing, screening challenges, sanctions investigations process, and EU and U.S sanctions frameworks.
Topics to be discussed
Details