Update Sanctions + Embargos - Sanctions and Embargos from the Perspective of a Bank

Most sanctions-setting bodies publish lists that allow organizations to determine whether a specific transaction is prohibited because it involves a sanctioned party. These lists are subject to change at any time and therefore organizations must ensure they are using current information. Organizations have the additional legal obligation to report transactions when it is suspected that money laundering or terrorist financing may be involved. There are severe regulatory penalties for noncompliance, for both the individual and the organization. Businesses may also be at risk of significant reputational harm for any infringements. Proper sanctions compliance training can help to avoid that kind of damage.

- This practical course covers sanctions, their purpose, and the various types of sanctions and who imposes them, as well as the serious consequences for financial institutions for non-compliance.

- What you’ll learn:

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- Explain types of sanctions and how they are used to change behavior
- Access and read lists of sanctions targets
- Use controls to mitigate sanctions risk
- Document and report sanctions compliance efforts