July 7, 2018
In recent times, the implementation of economic sanctions has been the go-to method for governments to put pressure on those countries that do not adhere to international standards. The implementation of economic sanctions as a leveraging tool has grown exponentially in the last decade and, as a result, given rise to a myriad of new rules and regulations that compliance suites must follow or suffer the consequences.
Nevertheless, despite this influx of new sanctions-based requirements, many compliance suites still continue to embedsanctions into their overall Anti-Money Laundering (AML)programs.
June 15, 2018
By: Keith Preble and Dr. Bryan R. Early*
The main goal of imposing sanctions on a target country or entity has always been to disrupt the target’s commercial relationships and make it costlier for them to do business. Governments try to achieve this goal by imposing administrative and criminal penalties for individuals and entities that violate their sanctions.
Though these restrictions generally apply only to firms and citizens operating in the country imposing the sanctions, the United States has recently employed far more aggressive and wide-reaching methods in penalizing foreign firms.
The Relatively Little-Known Role of the U.S. State Department in Sanctioning Terrorists and its Consequences
December 5, 2017
In addition to the U.S. Treasury, the U.S. State Department has great influence over the implementation of U.S. sanctions policy in designating terrorists. Despite this important role, over 90% of compliance professionals recently polled by SanctionsAlert.com are either “not so familiar” with the State Department’s designations or “did not know” at all that it could designate.
The imposition of sanctions by the U.S. against terrorists, terrorist organizations, and their support structures is a powerful tool in the detection and prevention of terrorism. (more…)
Cross-Sector Conference in New York Engages Top Experts to Reveal the Trends in Sanctions and Export Controls Risk Management and Enforcement
October 13, 2017
Whether you work at a financial institution or corporation, sanctions compliance comes with a host of risks that require well-developed processes to address them. Such risks were the subject of the inaugural SanctionsAlert.com Sanctions Risk Management Symposium, co-hosted with Compliance Week and Financial Research Associates,which took place in New York last month. Sanctions compliance professionals and experts from companies representing different industries– such as Uber, Standard Chartered Bank, ZTE, AXA Group, Google, and others - gathered in NYC to exchange ideas and discuss their favored processes for mitigating the risks associated with sanctions and export controls. (more…)
June 16, 2017
By: Saskia Rietbroek, Principal SanctionsAlert.com and Anna Sayre, Legal Content Writer,www.SanctionsAlert.com
The use of sanctions as an international means of effecting change has grown exponentially in recent times. As countries become less and less keen to use military force, the world has turned to sanctions implementation as a means of affecting international change, both politically and socially. (more…)
Trump Sanctions Policies Still Undefined, But Could Affect Many Nations and Compliance Officers – Part 6: Treasury Secretary Steven Mnuchin’s Conciliatory Commitment to the Status Quo, For the Most Part
June 3, 2017
By: Anna Sayre, Legal Content Writer, SanctionsAlert.com
In this series, we present the comments and assertions made by President Donald Trump and his top assistants concerning economic sanctions and export controls so that compliance professionals can make informed decisions as to the likely positions of the new U.S. administration in the next four years. (more…)