Sanctions Risk Management Conference

How to stay compliant with OFAC and out of trouble

NYC | October 15 – 16, 2018

SanctionsAlert.Com

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News

Bank of China Order Confirms U.S. Regulators Are Willing to Take a Tough Line On Sanctions Missteps

August 16, 2018
By: Anna Sayre, Legal Content Writer, SanctionsAlert.com

After conducting a supervisory examination of its compliance program, the Office of the Comptroller of the Currency (OCC) has issued a $12.5 million fine and a Consent Order requiring Bank of China’s New York Branch to fulfill certain requirements within 90 days, some very far-reaching.

The Order, imposed by the OCC in April 2018, not only details shortcomings found in the Bank Secrecy Act/anti-money laundering (BSA/AML) compliance program of one of the world’s biggest lenders, but also enterprise-wide deficiencies in its Office of Foreign Assets Control (OFAC) compliance requirements.

read more…

The Benefits of Incorporating Cutting-Edge FinTech Technologies Into Your Sanctions Screening Program

July 17, 2018
By: Joseph M Bognanno, Chief Innovation Officer, Safe Banking Systems and Ben Knieff, Financial Crimes Expert, Safe Banking Systems*

Financial institutions, and increasingly corporates and non-financial institutions, face the unrelenting challenge of combating those who wish to evade sanctions, money laundering and terrorist financing. A keystone in any effective approach to meeting this challenge is the identification of entities as part of the organization’s Know Your Customer (KYC) program, which always includes screening. read more…

Seven Reasons Why Compliance Suites Should Treat Sanctions As Distinct from AML

July 7, 2018
By: SanctionsAlert.com

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.

read more…

Attendee Testimonials

“Great knowledge from the presenters and the content was relevant”

José R. Fernandez, Bank of America — Charlotte, NC, USA

“Great coverage of information”

Cathy Swindell-Smith, Wells Fargo — Charlotte, NC, USA

“It was very informative. The speakers were clear and the information was disseminated in a clear, concise manner.”

Nicolette Douglas, Axa Equitable Life Insurance Company — New York, NY, USA

“The content was excellent and easy to understand. The presenters did a great job!”

Susan Wilson, RBC — Toronto, Canada

“Both speakers were exceptionally knowledgeable and provided practical information regarding the sanctions changes”

Adam Hermes, Comerico Bank — Livonia, USA

“Timely topic, detailed, knowledgeable speakers”

Mary Flanagan, Regions Bank — Birmingham, AL, USA

“Expert, knowledgeable speakers made for a very informative and engaging session.”

Sara Romana — Comerico Bank

“Informative and presenters did well”

Vanessa Rich, Exterran — Houston, Texas

“Very relevant and practical items”

Christian Velasquez, Payoneer — New York, NY, USA

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