U.S. Export Controls for Financial Institutions - Association of Certified Sanctions Specialists

FREE! Webinar

U.S. Export Controls for Financial Institutions

On June 28, 2022, the Financial Crimes Enforcement Network (FinCEN) and the US Department of Commerce’s Bureau of Industry and Security (BIS) published a joint alert reminding financial institutions to remain vigilant to Russian and Belarusian efforts to circumvent US export control restrictions.

The alert provides a comprehensive overview of the export restrictions imposed by the US in response to Russia’s invasion of Ukraine. FinCEN and BIS also identified certain US export-controlled commodities with a higher risk of diversion to unauthorized Russian and Belarusian end users, as well as transactional and behavioral red flags that signal export control evasion activity.

In this webinar, the speakers will discuss what the Joint Alert means for Financial Institutions (FIs).

Duration: 75 minutes

Speakers:
Thomas Andrukonis, Managing Director | FTI Consulting
Gabriel I. Hidalgo, Managing Director | FTI Consulting
Eric Rudolph, Managing Director | FTI Consulting

Moderator: Alexander Witt, CSS, Sanctions & Export Controls Consultant, ACSS

CSS Credits: 1

Date: Thursday, October 06, 2022

Time: 10:00 AM – 11:15 AM New York (EST)

03:00 PM – 04:15 PM London (GMT)

04:00 PM – 05:15 PM Amsterdam (CET)

What you will learn:

  • How important export controls are alongside sanctions for FIs.
  • How to implement risk-based screening of export-related financial transactions
  • How to find international trade financing mechanisms that may be used to identify suspicious activity.
  • How to file useful, suspicious activity reports (“SARs”)

During the webinar, participants will have the opportunity to contribute questions online.

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Thomas Andrukonis

Managing Director

FTI Consulting

Thomas Andrukonis is a Managing Director in the Export Controls, Sanctions, & Trade (ECST) practice at FTI Consulting. He specializes in U.S. and foreign export controls and sanctions matters, including license application development strategies, export control investigation support, internal compliance program development, conducting risk and threat based assessments, end-use monitoring advisory services (Post Shipment Verifications and Pre-License Checks), Voluntary Self-Disclosure submission support, General Prohibition 10 advisory, delisting support services and the development of enhanced due diligence programs. He further specializes in Technology Control Plan support, in countering illicit Technology Transfer, supporting the protection of Intellectual Property, preventing compromise of Critical Program Information and emerging technologies.

Gabriel I. Hidalgo

Managing Director

FTI Consulting

Gabriel Hidalgo is a senior compliance practitioner and advisor with deep regulatory and operational knowledge of banking, virtual assets and fintech. He has over 23 years of legal, BSA/AML and sanctions compliance experience in creating, implementing, remediating and updating compliance programs to exceed regulatory requirements while advising clients on industry best practices. Mr. Hidalgo previously created and led the Virtual Assets and Fintech compliance practice at K2 Integrity. In his role as practice leader, he advised clients in the banking, virtual assets, and fintech industry on BSA/AML and sanctions compliance matters. Prior to that, he was the Chief Compliance Officer for challenger bank Noble Bank International where he led compliance teams for all banking operations. In that role, he developed and implemented the compliance program platform that successfully onboarded and monitored customers with a specific focus on virtual asset and fintech client segments.

Eric Rudolph

Managing Director

FTI Consulting

Eric J. Rudolph’s work focuses on compliance with economic sanctions and U.S. export controls.

An attorney by experience and training, Mr. Rudolph has led, managed and participated in compliance reviews domestically and internationally (North America, Europe, Middle East, Africa and Asia); internal investigations; economic and trade sanctions, International Traffic in Arms Regulations (ITAR), and Export Administration Regulations (EAR) counseling; jurisdiction and classification analyses; and training efforts.