What are Sanctions?
Sanctions are traditionally deﬁned as the “deliberate, government-inspired withdrawal, or threat of withdrawal, of customary trade and ﬁnancial relations with a target country in an eﬀort to change that country’s policies.”
Gary Hufbauer & Barbara Oegg, A Short Survey of Economic Sanctions, INST. FOR INT’L ECON. (Aug. 2001),
In addition to the more traditional, country-based measures, sanctions can be “targeted” against particular individuals, vessels, or entities. In other words, they are legal measures that restrict or prohibit trade and ﬁnancial transactions with speciﬁed targets.
Targeted sanctions have become more common over the past two decades.
Sanctions can be either unilateral (e.g. issued by United Kingdom, United States), or multilateral (e.g. issued by United Nations Security Council, or European Union).
Goal of Sanctions
Penalize the target for its practices
Make a symbolic political statement of opposition against such practices
Thwart activities that are illegal or threaten national security
The Association of Certified Sanctions Specialists
The Association of Certiﬁed Sanctions Specialists (ACSS) is a professional membership body for sanctions professionals worldwide. It was formed to advance sanctions compliance by supporting the professional development of the individuals who lead those eﬀorts.
The goal of ACSS is to:
- Serve the professional interests of its members by delivering high quality services and promoting the interests of the profession
- Provide professional qualiﬁcations and set standards for sanctions practitioners
- Be an authoritative and respected voice promoting sanctions compliance
- Enhance the careers of sanctions professionals worldwide
Saskia is the Executive Director and Co-Founder of the Association of Certified Sanctions Specialists (ACSS), a professional membership body for sanctions professionals worldwide. She is a Certiﬁed Sanctions Specialist (CSS) and Certified Anti-Money Laundering Specialist (CAMS) and an industry leader in ﬁnancial crime topics. Saskia has over 15 years of Sanctions/AML experience in the U.S., Latin America and Europe. Her global footprint enables Saskia to apply valuable expertise and insight into international training and ﬁnancial crime compliance projects.
She is a frequent speaker in English, Spanish and Dutch on a variety of ﬁnancial crime topics.
She earned law degrees from Leiden University (Netherlands) and Universidad La Católica (Lima, Peru), and was admitted to the Lima Bar Association. She also holds an international MBA from Florida International University. She speaks ﬂuent Dutch, English and Spanish, as well as basic German.
“Sanctions are profoundly complex in the international insurance market. The ACSS initiative fills an important need in promoting compliance expertise in this area.”
Deputy Chief Compliance Officer
New York, NY
“Economic sanctions continue to be used with tremendous frequency by policymakers and the complexity of the measures, and the conflicts between them, is unprecedented. In this environment, specialized resources for sanctions professionals makes sense.”
Independent Consultant on Economic Sanctions / OFAC Matters, and former Managing Director Global Sanctions Executive at Bank of America
Great knowledge from the presenters and the content was relevant
José R. Fernandez
Bank of America – Charlotte, NC, USA
Great coverage of information
Wells Fargo – Charlotte, NC, USA
It was very informative. The speakers were clear and the information was disseminated in a clear, concise manner.
Axa Equitable Life Insurance Company – New York, NY, USA
The content was excellent and easy to understand. The presenters did a great job!
RBC – Toronto, Canada
Both speakers were exceptionally knowledgeable and provided practical information regarding the sanctions changes
Comerica Bank – Livonia, USA
Timely topic, detailed, knowledgeable speakers
Regions Bank – Birmingham, AL, USA
Very helpful, clear information, important topics
Rita Sugiyama, CAMS, VP Sanctions, Citibank
— Miami, FL
Informative and presenters did well
Exterran – Houston, Texas
Very relevant and practical items
Payoneer – New York, NY, USA
Great speakers, practical advice
Jim Phillips, BSA OFAC Oﬃcer
Regions Bank – Birmingham, AL
Excellent speakers, very thoughtful information
Berenice Huﬀner, Compliance Manager
PNC – East Brunswick, NJ
Very well structured and executed. Addressed key points in a concise manner and was very engaging. Especially enjoyed the polling element which gave live industry data.
Alise Viba, Global Financial Crime Compliance Analyst
Aviva Investors – London, UK