ACSS’ Sanctions and OFAC Compliance Basics Seminar – Virtual
Date: February 25 – 26, 2021
Time: 9:00 – 12:00 PM ET (New York) | 3:00 – 6:00 PM CET (Brussels)
Duration: 6 hours of sanctions training, spread over two days
6 CSS Credits
Speakers: John Voss | Natasha Bright
Moderator: Saskia Rietbroek, CSS, Executive Director ACSS
Save an additional $50 when you use promo code SB50 when you register before Dec 31st.
As a compliance professional, you must understand the basics of an effective OFAC/Sanctions compliance program. Your business partners, examiners and auditors expect it.
This 6-hour live “nuts and bolts” seminar walks you through the most important US Office of Foreign Asset Control (OFAC) regulatory compliance landscape, risks and government expectations. Learn about the five vital pillars of a sound OFAC compliance program and proven tools and methods to avoid the most common sanctions compliance mistakes. With hands-on, real life case studies, you will learn the right approach for your company’s unique risks, while still leveraging opportunities to do business.
The Association of Certified Sanctions Specialists (ACSS) is the ONLY organization dedicated exclusively to the sanctions compliance professional. We advocate for, train and certify our fellow sanctions compliance professionals. Our members in over fifty four countries know that sanctions compliance has its own unique challenges and that knowledge and training is the key to solving them. The Association provides over seventy different classes, certifications and webinars, but if you are looking for the basics or a refresher, this is your place to start.
What you will learn from our knowledgeable and enthusiastic speakers:
- Who issues sanctions, and who are the targets?
- Who must comply?
- What the main US economic sanctions laws and regulations are
- How OFAC works and enforcement sanctions
- Spot on focus on updates of key OFAC sanctions program
- Elements of risk-based OFAC compliance program and more.
Who Should Attend?
Legal Counsel, Sanctions Managers, Sanctions Investigators/Analysts, AML/CTF Officers, Internal Auditors, Legal Advisors, Trade Finance and High Risk Departments
From: Manufacturing, Telecom, Offshore Industry, Energy, Maritime Shipping, Aviation and Other Corporations, Banking, Securities, MSBs, Regulators, Law Enforcement
February 25, 2021
9:00 – 9:05 AM
Welcome and Introductions
9:05 – 9:40 AM
Sanctions 101: US and International Arena
- Senders and Receivers: UN, EU, US and Others
- Categories of Prohibitions
9:40 – 10:10 AM
Walking Tour of Key US Sanctions Laws
- International Emergency Economic Powers Act (IEEPA)
- Trading with the Enemy Act (TWEA)
- Countering America’s Adversaries Through Sanctions Act (CAATSA)
- Primary vs. Secondary Sanctions and Prohibited vs Sanctionable Behavior
10:20 - 10:30 AM
10:30 - 11:00 AM
- How OFAC Works
- How OFAC Interacts with Other Agencies, including BIS
- Key OFAC Regulations and Guidance
11:00 – 12:00 PM
Overview and Updates on Key OFAC Programs
- Hong Kong/China
- Cuba and
February 26, 2021
9:00 – 9:10 AM
Introductions and Agenda
9:10 – 9:40 AM
Key Pillars of a Sanctions Compliance Program
- OFAC Compliance Framework: Risk Assessment, Internal Controls, Audit and More
- Voluntary Self Disclosure
9:40 – 10:10 AM
- Screening Technology
- Know Your Lists
- Naming Conventions
10:10 – 10:40 AM
Detecting Illicit Behavior and Red Flags
- Sanctions Evasion and Red Flags
- How to Investigate a Potential Breach
- Steps to Take: Potential hit to SDN vs. Potential Hit to SSI
10:40 – 10:50 AM
10:50 – 11:20 AM
What Would You Do? Interactive Case Studies
- When to Block and When to Reject?
- Is this Legal?
- Due Diligence Dilemmas
11:20 – 11:50 AM
Top 10 Lessons Learned from Recent OFAC Enforcement Actions and 7 Habits Of the Successful OFAC Compliance Officer (HOSOCO)
11:50 – 12:00 PM
Closing and Q&A
Sign up today!
Tell your friends, clients, customers and colleagues about it.
ACSS Sanctions Connect Calls are the perfect opportunity for you to obtain the answers to your burning sanctions queries as well as connect with your sanctions community
If you have any queries about our SanctionsConnect Calls, please feel free to get in touch!