Sanctions Risks and Dealing with Critical AML Issues
December 18, 2020 @ 6:00 am - December 19, 2020 @ 3:00 pm
World Union of Arab Bankers(WUAB) and Union of Arab Banks(UAB) will organize a HYBRID forum on: “Sanctions Risks and Dealing with Critical AML Issues” in Beirut- Lebanon, at Movenpick hotel, during the period 18-19 December 2020
Forums’ Background:
As evolving geopolitical factors, foreign policy objectives, and national security threats shape sanctions regimes to a great extent, financial institutions need to stay alert on the complexities of sanctions landscape in order to mitigate regulatory compliance risks and avoid the burden of heavy fines which can eventually lead to the demise of an institution. In an interconnected digital world, adhering to the various sanctions regimes administered by supranational organizations like UN, EU, & OFAC is becoming more onerous and costly on organizations which are investing heavily in compliance technology and allocating huge budgets to hire sanctions specialists. Whether comprehensive, targeted or sectoral, managing sanctions risks does not only require advanced technology, but also top-level commitment and a robust governance structure which together can serve as a shield against possible reputational harm. This forum is expected to provide attendees with the necessary tools and insights on how to design an enterprise-wide financial crime compliance framework as well as a resilient sanctions program in line with best practices and internationals standards. The forum will feature a special line up of seasoned compliance speakers and experienced bankers from across the MENA region who will be sharing their thoughts on emerging AML/CFT and sanctions risks and most importantly, how to align an institution’s compliance program with the risk appetite, product sophistication, and geographic foot print of that institution. Topics to be addressed include: respondent/correspondent relationship, sanctions governance and enforcement, asset freezing and investigations, sanctions due diligence, sanctions evasion techniques, OFAC 50 pct rule, delisting, characteristics of various sanctions regimes, licensing, screening challenges, technological features of automated compliance solutions, EU and U.S sanctions frameworks, and a myriad of other AML/CFT themes.
World Union of Arab Bankers(WUAB) and Union of Arab Banks(UAB) will organize a HYBRID forum on: “Sanctions Risks and Dealing with Critical AML Issues” in Beirut- Lebanon, at Movenpick hotel, during the period 18-19 December 2020
Forums’ Background:
As evolving geopolitical factors, foreign policy objectives, and national security threats shape sanctions regimes to a great extent, financial institutions need to stay alert on the complexities of sanctions landscape in order to mitigate regulatory compliance risks and avoid the burden of heavy fines which can eventually lead to the demise of an institution. In an interconnected digital world, adhering to the various sanctions regimes administered by supranational organizations like UN, EU, & OFAC is becoming more onerous and costly on organizations which are investing heavily in compliance technology and allocating huge budgets to hire sanctions specialists. Whether comprehensive, targeted or sectoral, managing sanctions risks does not only require advanced technology, but also top-level commitment and a robust governance structure which together can serve as a shield against possible reputational harm. This forum is expected to provide attendees with the necessary tools and insights on how to design an enterprise-wide financial crime compliance framework as well as a resilient sanctions program in line with best practices and internationals standards. The forum will feature a special line up of seasoned compliance speakers and experienced bankers from across the MENA region who will be sharing their thoughts on emerging AML/CFT and sanctions risks and most importantly, how to align an institution’s compliance program with the risk appetite, product sophistication, and geographic foot print of that institution. Topics to be addressed include: respondent/correspondent relationship, sanctions governance and enforcement, asset freezing and investigations, sanctions due diligence, sanctions evasion techniques, OFAC 50 pct rule, delisting, characteristics of various sanctions regimes, licensing, screening challenges, technological features of automated compliance solutions, EU and U.S sanctions frameworks, and a myriad of other AML/CFT themes.
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