SANCTIONS COMPLIANCE MASTERCLASS
₦ 500,000.00 Original price was: ₦ 500,000.00.₦ 450,000.00Current price is: ₦ 450,000.00.
PROGRAM OUTLINE
MODULE 1: HOW ARE SANCTIONS CREATED AND ENFORCED?
- Overview of Sanctions Compliance
- Types of Sanctions
- Who imposes sanctions? Regulatory Bodies and Authorities
- Sanctions Compliance Regulations
- United Nations sanctions regime
- European Union sanctions regime
- United States sanctions framework
- United States sanctions regulatory agencies
- United Kingdom sanctions regime
- Unilateral sanctions
- Influential organizations
- UN sanctions regime (Case example)
MODULE 2: SANCTIONS TYPES, TARGETS, AND EXCEPTIONS
- What are the types of sanctions and embargoes?
- Financial and economic sanctions
- Asset freeze and making funds available
- Trade sanctions including arms embargoes
- Trade sanctions: Items subject to export control
- Comprehensive vs targeted sanctions
- Sectoral sanctions
- Are there exceptions made for sanctions?
- Sanctions exceptions, exemptions, and licenses
- Grounds for sanctions licensing
- Effective application of humanitarian licenses • Managing indirect sanctions exposure (Case example)
MODULE 3: INTERNATIONAL CONSIDERATIONS IN SANCTIONS COMPLIANCE
- Understanding Jurisdictional Issues
- What is the jurisdictional reach of sanctions and who is subject to them?
- US primary vs secondary sanctions
- Who needs to comply with sanctions?
- Risks of sector-specific sanctions—
- Risk of correspondent banking sanctions
- Sanctions risk for digital currencies
- Corporate supply chain sanctions
- Sanctions for maritime, logistics, and freight forwarders
- Goods and technologies of US origin
- Sanctions in the IT sector
- Sanctions on high-value and luxury goods
- Effective humanitarian license application
- Humanitarian aid distribution in authorized jurisdictions
MODULE 4: SANCTIONS VIOLATIONS
- How do sanctions violations occur?
- Unintentional sanctions violations
- Sanctions evasion techniques: Payments
- Sanctions evasion techniques: Trade-based (Case example)
- Lessons from enforcement
- What are the consequences for not following sanctions
- Consequences: Regulatory, financial, reputational; Regulatory, financial, reputational (Case example)
MODULE 5: SANCTIONS COMPLIANCE PROGRAM
- What Aspects Form A Robust And Effective SCP?
- Framework for a robust SCP
- Management commitment / culture of compliance
- Sanctions risk assessment
- Internal controls
- Testing and audit
- Sanctions compliance training
- Staying current on sanctions
- Sanctions easing and lifting PLUS (Case example)
MODULE 6: IDENTIFYING AND MANAGING SANCTIONS RISK
- Principles for an effective SRA
- Categories of customer risk: Customer, jurisdiction, product, channel
- Sector-specific sanctions risks
- Correspondent banking sanctions risk
- Digital currencies sanctions risk
- Corporate supply chain sanctions risk plus (Case example)
- Maritime, logistics, and freight forwarders sanctions risk
- Technology sector sanctions risk
- High-value and luxury goods sanctions risk
MODULE 7: SANCTIONS DUE DILIGENCE
- How to conduct sanctions due diligence
- Know your customer requirements
- Know your customer due diligence
- Enhanced due diligence for sanctions
- Due diligence investigations for sanctions (Case example)
- Understanding beneficial ownership
- Transparency, ownership, and control
- OFAC 50% rule
- EU and UK ownership and control
- Concealment of beneficial ownership
- KYC due diligence (Case example)
- OFAC 50% rule (Case example)
MODULE 8: SANCTIONS SCREENING, INVESTIGATION, AND INCIDENT MANAGEMENT
- What is sanctions screening and how does it work?
- Sanctions screening • Types of sanctions screening • Sanctions Screening: Amazon (Case example)
- What do we do when the risk emerges?
- Dealing with a sanctions breach • Self-reporting a potential breach of sanctions • Incident management as part of an SCP • Sanctions Compliance Foundations (Summary)
MODULE 9: ADVANCED TOPICS IN SANCTIONS COMPLIANCE
- Sanctions and Emerging Technologies
- Blockchain and Distributed Ledger Technology (DLT)
- Artificial Intelligence (AI) and Machine Learning
- Cryptocurrency and Digital Assets
- 3D Printing and Advanced Manufacturing
- Sanctions Evasion and Enforcement
- Methods of Sanction Evasion
- Smuggling and Illicit Trade
- Front Companies and Shell Entities
- Cryptocurrency and Peer-to-Peer Transactions
- Regulatory Enforcement and Penalties
- The Huawei Case (2020)
- The Zhenli Ye Gon Case (2019)
WHO CAN BENEFIT FROM THE PROGRAM?
- Sanctions compliance team
- Sanctions screening team
- Economic/Financial sanctions team
- Embargoes/Trade sanctions team
- Global trade, import/export team
- AML/CTF/CPF team
- Compliance technology team
- Legal counsel team
- Regulatory compliance team
- Risk management team
- Regulatory Compliance
- Compliance Analysts
- Compliance Managers
- KYC Analysts / Know Your Client Analysts
- KYC Managers
- AML/TF(Anti Money Laundering and Terrorist Financing) Analysts
- AML Managers
- Compliance Specialists
- Screening Analysts
- Customer Screening Analysts
- Transaction Screening Analysts
- Adverse Media Screening Analysts
- Corporate KYC/AML Analysts
- Onboarding Analysts
- Anyone in the financial compliance sector (private companies, regulated or non-regulated companies, banking, real estate, lawyers, or public sector employees).
- Compliance officers and risk management professionals
- Legal advisors and corporate counsel
- Banking and financial services professionals
- Trade and export control specialists
- Senior managers responsible for regulatory compliance
PROGRAM DURATION: 3 DAYS
Description
PROGRAM OVERVIEW
Sanctions compliance is a fundamental element of a robust and effective financial crime prevention program. Breaches of sanctions regulations can result in substantial financial penalties and reputational damage. To remain compliant, you need to understand how regulations impact your organization and the steps you can take to mitigate sanctions risks.
Considering new international sanctions imposed against nations and individuals, it is imperative for companies to comply with new sanctions regulations to avoid heavy penalties. Our SCS program will provide you with the latest updates and tools to understand and interpret the ever-changing sanctions regimes and build a robust sanctions compliance framework to mitigate risks against sanctions violation.
PROGRAM OBJECTIVES
- At the end of the SCS training program, participants would be able to understand:
- How sanctions are created and enforced;
- Different sanctions types, their targets, and exceptions;
- Jurisdictional reach of sanctions and to whom the concept applies;
- How violations happen and how to prevent them;
- What a robust sanctions compliance program looks like;
- How to conduct sanctions due diligence;
- Foundations of sanctions compliance and its importance;
- Key global sanctions regimes, including OFAC, EU, and UN sanctions;
- Assess and mitigate risks associated with sanctions violations;
- How to utilize technology for sanctions screening and monitoring
- How to respond appropriately to sanctions-related alerts and incidents
- What sanctions screening is and how it is applied;
- How to investigate and report sanctions breaches;
- And differentiate between types of sanctions (comprehensive, sectoral, targeted, global human rights);
- Screening system’s matching ranks and algorithms;
- How to perform manual and automated name screening;
- Computer Assisted Audit Techniques (CAAT);
- Wolfsberg Sanctions Screening Guidance; and
- How to minimize the number of false alerts generated by name-screening tools.