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

Practicalities and Risks of Using OFAC Licenses, And How To Expedite Them


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On Demand Webinar

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Overview:

A license is an authorization from US Treasury’s OFAC to engage in a transaction that otherwise would be prohibited. Many of OFAC’s licensing determinations are guided by U.S. foreign policy and national security concerns, and they are granted on a case-by-case basis.

The best-case scenario is 30-60 day approval, but what can you do to expedite or at least, not unnecessarily delay, the license? What is essential to include according to the application guidelines or the regulations pertaining to the particular embargo program?And do you need to provide a detailed description of the proposed transaction, including the names and addresses of any individuals/companies involved? Attend this live course, and find out!

In addition to the OFAC licenses essentials, this webinar also discusses the challenges related to OFAC licenses from a banker’s perspective.

Potential scenario:

A potential client approaches your financial institution to open a bank account to do business with a company in Iran. The potential client is a corporate customer. The product they sell is a medical device, and not a dual use item. The potential client has an OFAC license which allows their company to trade this product using financial institutions outside from the US. When you are approached with such scenario, what would you look for in your research in terms to asses to enter into a banking relationship?

What you will learn:

  • How do you know when is an OFAC license is required?
  • When does OFAC coordinate the approval with the U.S. Department of State and other government agencies, such as the U.S. Department of Commerce
  • Which form to use, and other do’s and don’ts when applying for a license with OFAC
  • What to include in the license application to expedite the process
  • Can you appeal a denial?
  • Expected timeline for a response from OFAC
  • Penalties for exporting controlled goods without a license
  • Latest updates related to OFAC General Licence H for Iran
Iran

Date Aired: 

August 29, 2017

Duration: 

75 minutes

Speakers

Michelle Turner Roberts
Dan Fisher-Owens

Essentials: What U.S. and International Companies Doing Business in Canada Need To Know About Canadian Sanctions


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On Demand Webinar

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Overview:

This Essentials webinar is a live online course focusing on the fundamentals of Canadian sanctions and export controls programs. The course is designed for U.S. and international sanctions compliance professionals, providing practical advice on doing business in Canada while navigating Canadian sanctions laws. Essentials will provide attendees with a solid framework, practical tips and up-to-date information – the information you need to stay compliant!

What you will learn:

  • Navigating conflicts of law between Canada, U.S. law, including the Cuba embargo
  • When strict adherence to U.S. trade control laws can result in a violation of Canada law
  • Where Canada trade controls are more stringent that U.S. controls,
  • Practical issues and pitfalls such as Canada “red flag” destinations and crafting U.S. compliance policy onto Canada operations
  • Enforcement power of Canadian authorities, and lessons learned from real life cases
Iran

Date Aired: 

August 10, 2017

Duration: 

75 minutes

Speakers

John Boscariol
Stephen Alsace

Practicalities and Risks of Using OFAC Licenses, And How To Expedite Them


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On Demand Webinar

image

Overview:

A license is an authorization from US Treasury’s OFAC to engage in a transaction that otherwise would be prohibited. Many of OFAC’s licensing determinations are guided by U.S. foreign policy and national security concerns, and they are granted on a case-by-case basis.

The best-case scenario is 30-60 day approval, but what can you do to expedite or at least, not unnecessarily delay, the license? What is essential to include according to the application guidelines or the regulations pertaining to the particular embargo program?And do you need to provide a detailed description of the proposed transaction, including the names and addresses of any individuals/companies involved? Attend this live course, and find out!

In addition to the OFAC licenses essentials, this webinar also discusses the challenges related to OFAC licenses from a banker’s perspective.

Potential scenario:

A potential client approaches your financial institution to open a bank account to do business with a company in Iran. The potential client is a corporate customer. The product they sell is a medical device, and not a dual use item. The potential client has an OFAC license which allows their company to trade this product using financial institutions outside from the US. When you are approached with such scenario, what would you look for in your research in terms to asses to enter into a banking relationship?

What you will learn:

  • How do you know when is an OFAC license is required?
  • When does OFAC coordinate the approval with the U.S. Department of State and other government agencies, such as the U.S. Department of Commerce
  • Which form to use, and other do’s and don’ts when applying for a license with OFAC
  • What to include in the license application to expedite the process
  • Can you appeal a denial?
  • Expected timeline for a response from OFAC
  • Penalties for exporting controlled goods without a license
  • Latest updates related to OFAC General Licence H for Iran
Iran

Date Aired: 

June 29, 2016

Duration: 

75 minutes

Speakers

Michelle Turner Roberts
Dan Fisher-Owens