Essentials: Seven Vital Things Every Exporter (and its Bank) Needs To Know About Sanctions and Export Controls


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On Demand Webinar

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Overview:

The role and importance of strong sanctions controls cannot be underestimated. Sanctions screening has grown more complicated with issues like sectorial sanctions, 50% rule, overlapping lists, aliases, and partially eased Iran and Cuba programs.

In addition, in the US violations of sanctions laws are enforced very strictly. In 2015, the National Bank of Pakistan paid a penalty to US Treasury for mistakenly processing prohibited transactions due to a software failure.

Under the new rule of New York banking regulator (DFS), effective January 1, 2017, regulated institutions are required to review their OFAC/sanctions filtering programs and ensure that they are reasonably designed to comply with risk-based safeguards. You must also adopt an annual board resolution or “senior officer compliance finding” to certify compliance with the DFS regulation beginning April 15, 2018.

How can you be sure your sanctions filter is working properly?

During this live course, we’ll use audience polling, providing you with vital industry insights, such as:

“In a high-risk geographical location with a high volume of transactions, does your filtering software send the OFAC/sanctions alerts to a separate queue that is to be handled by an expert?”

“How many analysts review an OFAC/sanctions alert before closing?”

“Are you separating personal and corporate accounts in your OFAC/sanctions screening process?”

This webinar will instruct you on:

  • Tailoring screening tools to diminish false positives by separating names, addresses and cities from other data.”
  • How to reduce alert clearing costs using expertise, risk-based management and data analysis.
  • Lessons learned from recent OFAC enforcement actions where faulty filtering program led to fines.
  • Best practices in reverse, forward and event driven screening.

With rapidly growing compliance department costs and no decrease to regulatory fines in sight, it’s becoming increasingly clear that we need an efficient approach to sanctions screening. Join this webinar, and learn how to reduce compliance costs by lowering false positive alerts and reprioritizing time spent on investigations.

Iran

Date Aired: 

November 2, 2017

Duration: 

75 minutes

Speakers

Susan Kovarovics
Lynn Van Buren

The role and Authorities of the U.S. Department of State in Sanctions Terrorism


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On Demand Webinar

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Overview:

The imposition of sanctions by the U.S. against terrorists, terrorist organizations, and their support structures is a powerful tool. Its effects reach far beyond the blocking of terrorist assets. Designating individuals or organizations as SDGTs, SDTs, or FTOs, denies them access to the U.S. financial system.

This live webinar explains the important role of U.S. Department of State – which arguably has the greatest influence of any US department over the implementation of US sanctions policy in designating terrorists.

Do you know that SDGTs and FTOs are not designated by OFAC? Instead, they are placed on the “do not touch” list by State Department.

Do you know the differences in practical restrictions between Foreign Terrorist Organization (FTO), Specially Designated Global Terrorists (SDGT), and state sponsors of terrorism?

Do you know the ramifications of FTO listings by the US Department of State and how it affects your compliance program, even if you’re not a US business?

Join this live SanctionsAlert.com “Essentials” course and learn:

  • How State Department targets an entity or person for designation
  • The designation process
  • Role of Counter Threat Finance and Sanctions Bureau and other offices.
  • Lists and restrictions, and their overlap with OFAC lists
  • Extraterritorial application of designations
  • How State Department works with OFAC
  • how State Department designations assistlaw enforcement activities of U.S. agencies and other governments
  • Current groups designated as FTOs
  • Delisting process
Iran

Date Aired: 

October 19, 2017

Duration: 

75 minutes

Speakers

Jason Blazakis

The role and Authorities of the U.S. Department of State in Sanctions Terrorism

The imposition of sanctions by the U.S. against terrorists, terrorist organizations, and their support structures is a powerful tool. Its effects reach far beyond the blocking of terrorist assets. Designating individuals or organizations as SDGTs, SDTs, or FTOs, denies them access to the U.S. financial system.

This live webinar explains the important role of U.S. Department of State – which arguably has the greatest influence of any US department over the implementation of US sanctions policy in designating terrorists.

Do you know that SDGTs and FTOs are not designated by OFAC? Instead, they are placed on the “do not touch” list by State Department.

Do you know the differences in practical restrictions between Foreign Terrorist Organization (FTO), Specially Designated Global Terrorists (SDGT), and state sponsors of terrorism?

Do you know the ramifications of FTO listings by the US Department of State and how it affects your compliance program, even if you’re not a US business?

Join this live SanctionsAlert.com “Essentials” course and learn:

  • How State Department targets an entity or person for designation
  • The designation process
  • Role of Counter Threat Finance and Sanctions Bureau and other offices.
  • Lists and restrictions, and their overlap with OFAC lists
  • Extraterritorial application of designations
  • How State Department works with OFAC
  • how State Department designations assistlaw enforcement activities of U.S. agencies and other governments
  • Current groups designated as FTOs
  • Delisting process
Iran

Date Aired: 

October 19, 2017

Duration: 

75 minutes

Speakers

Jason Blazakis

Sanctions Risk Management Symposium – Presentations

DAY ONE – SEPTEMBER 18, 2017

9:45AM – 10:45AM

WMD Proliferation Finance – Choking Off the Grave New World Threat That Everyone is Nervous About

 

11:15AM – 12:15PM

OFAC and BIS: How they Work Together and How Regulatory and Criminal Powers Are Applied

 

1:30PM –  2:30PM

Navigating Increasingly Complex Sanctions Regimes Against Iran, Russia and Cuba: Hot Button Issues

 

4:00PM –  4:45PM

Navigating the Sanctions and Export Controls Requirements of Multiple Jurisdictions

 

4:45PM –  5:30PM

Designing a Sanctions/Export Controls Risk Assessment That Government Agencies (in Any Country) Will Applaud

 

DAY TWO – SEPTEMBER 19, 2017

9:30AM –  10:30AM

It’s Not Just About the Lists Anymore: Using CDD to Detect Hidden UBOs and Prohibited End-Users

 

10:30AM –  11:45AM

What U.S. Federal Bank Examiners Look for in Their OFAC Compliance Examinations

 

11:45AM –  12:30PM

Disclosures, Investigations and Enforcement: How to Reduce Criminal and Regulatory Sanctions Problems

 

1:30PM –  2:30PM

Conducting Sound Audits of Sanctions Compliance Programs and Continued Reviews of Workflows and Processes to Identify Problems Before the Examiners Do

 

4:00PM –  4:50PM

Seven Deadly Sanctions/Export Controls Sins Unveiled in Recent OFAC and BIS Cases – And Their Lessons

 

BONUS MATERIAL

SanctionsAlert.com Bonus Material

 

Live Q&A with the Former Chief of New York’s Money Laundering Unit’s: NYDFS Part 504 Breakdown and Analysis


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On Demand Webinar

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Overview:

On January 1st 2017 New York State’s Department of Financial Services (DFS) issued Part 504. This rule sets high expectations on how sanctions/OFAC and other lists are screened. Join us live on August 17, and hear a great AML expert on one of the hottest topics impacting AML and OFAC compliance today.

To navigate this rule’s unprecedented challenges, SanctionsAlert.com has invited Former Chief of Money Laundering Unit New York State Office of the Attorney General to explain what Part 504’s personal liability means in the criminal context.

Ask your questions live and get answers!

Sign up now for free and gain invaluable insights into the rule that transformed AML and OFAC compliance in New York and beyond.

What you will learn:
– What are the powers of New York Department of Financial Services (NYDFS) on the criminal side
– Who are duly authorized prosecutors in NY
– What the role of prosecutors are according to statute
– What are the investigative concerns (jurisdiction, resources, questions of proof)
– What are the likely steps you would see in an investigation against your financial institution?

Iran

Date Aired: 

August 17, 2017

Duration: 

75 minutes

Speakers

Meryl Lutshky
Salvatore Scotto