The Changing Landscape of Sanctions Programs: Understanding & Mitigating Compliance Risk
October 6, 2020 @ 12:00 pm - October 7, 2020 @ 2:00 pm
Webinar (Online Training):
Overview:
In the recent years, many international banks have been fined because of violations of sanctions programs imposed by the United States, the European Union, and others. The consequences of non-compliance have been severe in terms of financial penalties, loss of business, and reputational damage. So, financial crimes regulations and sanctions programs remain a major concern in the international banking landscape, including the MENA region. In order to mitigate this risk, banks around the world have to be extremely vigilant and must take the necessary measures to cope with various sanctions programs requirements. The aim of this webinar is to keep the attendees abreast and knowledgeable of the latest development related to sanctions by providing them valuable insights on various sanctions programs in general, their global applicability, and the key tools for due diligence. The webinar also addresses multiple real case studies and examples.
Outline:
Sanctions Programs at a Glance
Economic Sanctions – A Brief Overview
US Sanctions vs. Non-US Sanctions
Sanctions vs. AML/CFT
Type of Sanctions
Primary vs. Secondary Sanctions
Comprehensive vs. Non-Comprehensive Sanctions
Sectoral Sanctions
List-Based Sanctions
Activity-Based Sanctions
Examples
Global Applicability of US Sanctions, Enforcement, and Penalties
Importance of US Regulations
Extraterritorial Reach of US Regulations
Consequences of Non-Compliance
Enforcement Actions against Foreign Banks
OFAC Enforcement & Penalties
50% Rule Definition and Requirements
Specially Designated Nationals; Blocking vs. Rejection
Webinar (Online Training):
Overview:
In the recent years, many international banks have been fined because of violations of sanctions programs imposed by the United States, the European Union, and others. The consequences of non-compliance have been severe in terms of financial penalties, loss of business, and reputational damage. So, financial crimes regulations and sanctions programs remain a major concern in the international banking landscape, including the MENA region. In order to mitigate this risk, banks around the world have to be extremely vigilant and must take the necessary measures to cope with various sanctions programs requirements. The aim of this webinar is to keep the attendees abreast and knowledgeable of the latest development related to sanctions by providing them valuable insights on various sanctions programs in general, their global applicability, and the key tools for due diligence. The webinar also addresses multiple real case studies and examples.
Outline:
Sanctions Programs at a Glance
Type of Sanctions
Global Applicability of US Sanctions, Enforcement, and Penalties
Details