The what, the why, the how, the do’s and the don’ts.This highly practical course will assist compliance officers and others responsible for managing the risks of sanctions breaches to construct a robust control environment. In addition the course will provide an update on the recent changes to the Iranian, Hezbollah, North Korean, Russian, and Syrian Ssanctions. 


  • Why do financial institutions have to devote resources to ensure compliance with trade and economic sanctions regulations and laws?
    • Looking at the United Nations, United States of America and the European Union:
      • The use of economic sanctions
      • Authorisation of sanctions
      • Enforcement of sanctions
      • Who is responsible for enforcement
      • Who is subject to enforcement actions


  • How financial institutions breach relevant trade and economic sanctions regulations:
    • United Nations, United States of America and the European Union
  • The consequences of breaches of relevant trade and economic sanctions regimes:
    • United Nations, United States of America and the European Union
  • Review of specific sanctioned regimes:
    • Sudan
    • Cuba
    • Syria
    • Iran
    • Russia
  • What can be learned from reported enforcement actions:
    • ABN Amro
    • Barclays
    • ANZ
    • Lloyds
    • JP Morgan Chase
    • HSBC
    • Standard Chartered
    • BNP


  • How financial institutions can reduce the risk of non-compliance with relevant sanctions: 
    • Policies and procedures
    • Customer due diligence and KYC
    • Transaction monitoring
    • Correspondent bank enquiries
  • What to do when you may be the subject of an investigation
  • The practicalities of dealing with an investigation


After attending this course, you will be able to:

  • Identify weaknesses in policies and procedures and errors and omissions in processes resulted in major financial penalties for financial institutions.
  • Provide insight into some of the less obvious costs and implications of policy and control weaknesses.
  • Outline the key features of the UN, US and EU sanctions regimes and their application to specific “sanctions targets”.
  • Update and refine your sanctions compliance processes, and provide ideas on monitoring processes and controls.
  • Understand the steps to take if you become the target of enquiries from correspondent banks and foreign enforcement bodies.
  • Outline the risks and costs of non-compliance to the senior management and board

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