Latest News about Sanctions
Most compliance officers are familiar with sanctions imposed by the UN, EU, US, Canada, and other countries. These international organizations and states impose targeted financial sanctions– such as asset freezes, arms embargoes and travel bans – in order to achieve a desired outcome. A lesser known form of sanctions is one that belongs to Multilateral Development Banks (MDB) like the World Bank Group.
WMD Proliferation Detection Can Be Readily Incorporated Into Existing AML/Terrorist Financing Programs, A new Report by the Center for New American Security
The proliferation of weapons of mass destruction (WMDs) is a critical threat facing the international community. As such, finding new and more effective ways of combating the proliferation of WMDs has become a major concern of the international community.
In order to optimize interest and improve liquidity for their clients, financial institutions frequently maintain so-called ‘pooling accounts’, in which funds from many different accounts are combined.