Sanctions Connect

Joint FinCEN & BIS Alert on Export Controls on Russia

Date: Friday, July 29, 2022

Time: 09:00 AM – 09:30 AM EST

Duration: 30 minutes

Speaker:
Stephen Wilcox, Managing Director | FTI Consulting

Moderator:
Alexander Witt, CSS, Sanctions & Export Control Consultant | ACSS

On June 28, 2022, the Financial Crimes Enforcement Network (FinCEN) and the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) published a joint alert urging Financial Institutions (FIs) for increased vigilance for potential Russian and Belarusian export control evasion attempts.

The U.S. is intensifying its efforts to keep technology that can be used for military purposes out of Russia by requiring banks to decline or report transactions that appear to relate to such exports.

FIs are urged to impute greater risk to transactions involving a list of items such as airplane parts, cameras, and antennas that could help Russia and its ally Belarus bolster their military capabilities.

In this Sanctions Connect Call we will discuss and analyse the joint alert, what it means for financial institutions in the US, and three things ACSS members should do now as a result of the alert.

About Sanctions Connect Calls:

  • Every last Friday of the month
  • It is a members-only, intimate conversation that enriches your connections and knowledge of specific sanctions topics.
  • Chatham house rules apply.
  • SanctionsConnect calls are NOT recorded, so attend live!
  • A maximum of 50 ACSS members can attend the call. First come first served.

Event Registration

Members of the Association

This SanctionsConnect Call is included in your membership, but space is limited! If you would like to register, click below on “Register Me”

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Non Members of the Association

You must be a member in order to attend this SanctionsConnect Call. To learn about ACSS membership, click here or join now.

Stephen Wilcox

Managing Director, FTI Consulting

Stephen Wilcox specializes in U.S. and foreign export controls and sanctions matters, including conducting corporate trade compliance investigations and audits, due diligence advising, the development of Internal Compliance Program (ICPs), Voluntary Self-Disclosures (VSDs) advisory, and restricted party list removal support services.

Alexander Witt, CSS

Sanctions & Export Controls Consultant, ACSS

Alexander Witt is a Sanctions & Export Control Consultant for the Association of Certified Sanctions Specialists (ACSS). He is an expert in EU, US, and German Sanctions and Export Control Laws and Regulations. Previously Alexander worked as a Sanctions & Export Control Consultant at Full Circle Compliance and as an Export Compliance Officer at Fujifilm Europe in the Netherlands.