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Making Sense of Economic Sanctions

LGCA
05
May

Making Sense of Economic Sanctions

by LGCA
 
104 people viewed this event.

This one-day interactive course focuses upon operational awareness and compliance within economic sanctions. It reviews current sanctions regimes and considers the controls needed to mitigate the risks associated with them. This course will look at sanction risks from the perspective of different types of financial institutions and organisations, and they ways in which those risks often arise.

Using recent cases, participants will learn about the tactics used by illicit actors to evade sanctions and equip them with the skills to better identify “red flags” associated with customer or third-party transactions and behaviour. This course is designed to provide a practical perspective on how sanction restrictions are applied to business activities and operational controls should be used to mitigate sanctions risks.

Price £699.00 + VAT

Course Syllabus

Scope of purpose of economic sanctions 

  • Types of sanctions explained

  • Who must comply with sanctions – regulatory obligations

  • Main sanction regimes

  • Types of restrictions imposed

  • Practical challenges of sanctions compliance activities

Sanctions – Permissible Activities 

  • General licence authorisations 

  •  Review specific licence / approvals

  • Review derogations / exemptions

  • Practical challenges of undertaking permissible activities

How Sanctions Risks Arise for a Business

  • Learn about the factors within in organisation’s control

  • Learn about the factors outside of an organisation’s control

  • Understand the practical challenges of identifying sanctions risks

Understanding Sanctions Risks 

  • How to spot “Red flags” and other warning signs

  • Matching controls to mitigate identified risks

Sanction Screening Tool Results 

  • Practical considerations when using screening tools

  • Tactics for effective assessment of possible sanction matches 

  • Understanding what “usual” looks like

Post Detection Considerations

  • Internal communications – methods of conveying the information

  • Next steps: Freezing of funds and blocking assets

  • Regulatory reporting – How to report correctly

Learning objectives

  • Learn about economic sanctions and their operation

  • Identify and detect possible sanctions risks associated with customers and third parties

  • Understand the warning signs of possible evasion of sanction restrictions by illicit actors 

  • Develop tactics to better detect and mitigate potential sanctions risks

Who is the course suitable for?

This course is suitable for front line / customer facing staff and managers, compliance officers, members of the compliance review and monitoring teams, internal and external auditors.

Trainer

Samantha Sheen

 

Date And Time

05-May-2020 - 09:00
- 16:00
 

Location

 

Venue

The London Institute of Banking & Finance
 

Event Category

Financial Crime
 
 
 

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