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Workshop
International Sanctions

Price: €350

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€350

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Self study

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Approx. 16 hours to complete

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12 CPD hours

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Certificate of attendance

Introduction to the class

With International Sanctions playing an increasingly critical and central role in global trade and financial relations, institutions are obliged to stay up to date with the latest developments in the field. Sanction is war by other means and the penalties violations are significant. What this program is going to provide is a thorough look at currently available tools and techniques. Specifically, it will consist of a general overview of the domestic and transnational nature of crime, financial crime and its destabilization on localities and nations and their people. Also, a discussion of economic friction and the role it works in our favor as well as countercurrent to our objectives.  Indeed, the future is bright, but much work lies ahead.

Key aspects of the course

  • Learn all about the latest developments in the subject of AML and International Sanctions

  • Familiarize yourself with how different jurisdictions address Sanctions issues

  • Understand the tools available for a great examination process

  • Develop institutional and personal strategic applications on the subject

Who should attend?

  • Central Bankers

  • Government Official

  • Sanctions Compliance and AML Professionals

  • Legal Professionals in Finance & Economics

  • Banking professionals

  • Consultants in Financial Services

  • Shipping and Freight Forwarding Professionals

This course includes:

  • 16 hours of self study including articles and presentations

  • Full lifetime access to learning material

  • Certificate of attendance

How it works?

Workshops take place on Hapeiron, an Interfima e-learning platform.

  1. Enroll to the class from this page

  2. After enrollment you'll receive a registration link to access the platform 

  3. Complete all learning material

  4. Get your certificate of attendance

Do you want this class in-house?

We can deliver this class in-house for your organization's employees.

CPD Recognition

The syllabus of this workshop is eligible for 12 CPD hours in Regulations and ethics, finance, auditing.
Criteria and CPD hours are verified directly by your association, regulator or other bodies which you hold certification or membership.

What you will learn

What Is Money Laundering and How Does It Work?

  • Define “Money Laundering” and discuss three stages of Placement, Layering and Integration

  • ​The world of transnational criminal organizations and what they want from you!

  • ​Conditions Required For Money Laundering to Occur and How to Combat It

  • General discussion of 200+ Predicate Crimes to Money Laundering

  • Ability to move funds undetected and some of the ways this is likely to occur

Sanctions Compliance: What are Sanctions Programs all about?

  • OFAC and other Sanctions Compliance Programs (EU, UN, HMS Treasury, and others)

  • Objectives of Sanctions Compliance Programs 

  • Key Elements of a Sound Global Sanctions Compliance Program

  • Compliance Officer Responsibilities

  • Policies and Procedures

  • Processes and Control Mechanisms

OFAC and other Global Sanctions Lists

  • Know who/what entities are on these lists

  • Know who/what entities are to be screened

  • Understanding Basics of Sanction Screening Processes

Country Sanctions versus Targets Sanctions Programs

  • Sanctions against Iran, North Korea and Cuba

  • Regimes, Narcotics Cartels, Terror Organizations

  • Other “Bad Guys” besides those on Sanctions Lists

  • Politically Exposed Persons

  • Internal Watch Lists, Fraud Lists, and other lists

  • How Well Must You Know Your Customers?

This session will look at current issues with Enhanced Due Diligence, including:

  • Beneficial ownership – what’s expected now and what’s on deck (domestic and overseas)

  • Politically Exposed Persons (PEPs) – foreign and domestic – how do you identify a PEP and how long is a PEP a PEP – and once you’ve found one, what do you do?

  • Non resident aliens – what special steps should you take when you discover a potential customer is not a resident?

  • Non government organizations (NGOs) – especially with an enhanced focus on charitable organizations; what more do you need to do

  • Reliance – when can you accept the identification and verification of another institution?

  • Sanctions Compliance Efforts and How τhey Relate to EDD Pro

Sanctions Compliance: Risk Assessments

  • What are the risks? How are these identified?

  • Evaluation of Customer Risks

  • Evaluation of Product Area Risks

Data Screening and Issues to Keep in Mind

  • Screening Tools: Vendor Provided vs In-house Screening Tools

  • Screening Logic to be Implemented

  • Evaluating Screening Results and Rules to Address False Hits

  • Other Factors to Consider

Charitable Organizations and Terrorist Financing

  • Learn the risks and implications of banking charitable organizations

  • Tips on how to spot transaction patterns aiding illicit activities

  • Understand how law enforcement investigates terrorist financing and the processes your organization must have in place to help their efforts

  • Learn how terror organizations finance their operations and how to spot suspicious transactions

  • Recent cases and hands-on examples of terrorist financing

How Sanctioned Entities Move Money

Explore how Sanctioned entities move funds and how they work with others to obscure the source of tainted funds.

Independent Program Assessments

  • Function and Value of Independent Program Reviews

  • Who? When and Why of Independent Program Reviews

  • What should an Independent Program Reviews consist of?

  • What we are really looking at are risks...

  • Reputational and Regulatory, Financial and Life and Limb

  • Consequences of failure, publicity, sanctions, fines, suspension and debarment...

  • Fragility versus Robust - one last comment.

So what if I get it wrong?

  • Reputational Harm - Name and Shame

  • Civil/Criminal Penalties

  • Suspension and Exclusion

  • Thinking about the changes

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