Experts from BIS Identify Key Issues for Exporters and How to Develop an Effective Export Control Program

April 24, 2018

Just as the U.S. Treasury’s Office of Foreign Assets Control (OFAC) has great influence over the implementation of U.S. sanctions policy, its cousin – the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) – plays an equally vital role in the implementation of U.S. export/import policy.

BIS regulates less sensitive military items, as well as, commodities and technology referred to as “dual-use;” these are items that are designed for both commercial and military applications.BIS derives its power mainly from the Export Administration Act (EAA) and is responsible for administrating the Export Administration Regulations (EAR). Similarly to OFAC, BIS keeps a list of regulated items called the Commercial Control List (CCL). BIS has broad jurisdiction over U.S. origin items.

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Wolfsberg’s New Correspondent Banking Questionnaire Incorporates Specific Guidance to Aid in Sanctions Compliance

April 11, 2018
By: Anna Sayre, Legal Content Writer SanctionsAlert.com

In direct response to increased regulatory expectations for enhanced due diligence in correspondent banking relationships, the Wolfsberg Group (Wolfsberg), published its new Correspondent Banking Due Diligence Questionnaire (CBDDQ) in February 2018, incorporating a number of important changes. The new Questionnaireis not only four times as long as its 2014 predecessor, containing 110 instead of 28 questions, but has also expanded its scope to specifically address due diligence issues relating to Anti-Bribery and Corruption, Counter terrorism Financing,and Sanctions exposure controls. (more…)

Liana Sebastian

Head of Global Trade Compliance
Google

As of February 2018, Liana Sebastian is head of the global trade compliance legal team at Google. Prior to her current role, she was senior export compliance counsel at Google focusing on US export controls and trade sanctions compliance. She had been in that role for 10 years. Before joining Google, Liana worked at Baker & McKenzie in the trade compliance team based in Washington, DC and is an alumni of Georgetown University Law Center.

Preparing for a Regulatory Examination of Your Financial Institution’s OFAC Program

Upcoming Webinar

Date:  Thursday, July 12, 2018

Time:  12:00 PM – 01:15 PM EST, 05:00 PM – 06:00 PM London,
06:00 PM – 07:00 PM Amsterdam

This webinar will address the steps an institution can take in advance in order to prepare for a bank examination of your OFAC program. Our speaker will discuss and provide guidelines for positively and accurately representing OFAC programs to regulators in order to ensure your business achieves the best outcome.

In this SanctionsAlert.com Webinar, we will cover: what happens when the bank examiner arrives, how the examiner prepares him/herself for the examination, how to handle questions from the examiner, and how to best document the examination.

What you will learn:

  • The ins and outs of the “rule book” used by the Regulator;
  • How to prepare your team (i.e. compliance staff, business lines with sanctions responsibilities, senior executives) for the examination;
  • How to use and get the most our of communication protocols; and
  • How to organize relevant information relating to your OFAC program.
OFAC

Duration: 

75 minutes

Sign up today!

 Great knowledge, great instructors, great value

Tell your friends, clients, customers and colleagues to sign up.

Certificate of Attendance

If you participate in the live webinar, you will receive a Certificate of Attendance, which you can use to show you meet your government-required training duties.

Thomas E. Nollner
Consultant
Office of Technical Assistance (OTA)
U.S. Treasury Department

Tom has more than 38 years of experience in financial institution supervision and consulting.  He spent 30 years as a National Bank Examiner (NBE) for the Comptroller of the Currency where he was a safety and soundness examiner and a compliance examiner, retiring in 2008.   During Tom’s last 15 years as an NBE and past 10 years as a consultant, he has specialized as an AML/CFT examiner/consultant.  In these roles he has analyzed the AML/CFT programs and processes for all types of financial institutions’ to ensure that they complied with applicable AML/CFT laws, rules, and regulations.  In addition, he has reviewed suspicious activity identification, monitoring, and reporting processes; he has traced proceeds and transactions through several layers of activity; and he has provided AML/CFT training for many different financial institutions.

In his current role at the OTA, Tom assists developing countries with banking issues. Tom is assigned to the Economic Crimes Team that focuses on training, assisting, and mentoring the staffs of the financial regulatory departments and financial intelligence units of various countries, such as: Afghanistan, Iraq, Myanmar, and Surinam, regarding AML/CFT compliance.

Continuing Education

SanctionsAlert.com typically requests CAMS (Certified Anti-Money Laundering Specialist – ACAMS) and CAFP (Certified Anti-Money Laundering and Fraud Professional -ICB) credits for its live webinars. Please send us a message if you wish to confirm which credits have been obtained.

Moderator:

Anna Sayre, Legal Content Writer, SanctionsAlert.com

This Live Webinar is Included in the SanctionsAlert.com Membership. SanctionsAlert.com Members will receive an email with log in details one day before the Webinar. These are also posted on the SanctionsAlert.com Platform. After the Live Webinar, SanctionsAlert.com Members can also view this webinar on-demand on our Platform.

Attendee Testimonials

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Bank of America

“Great knowledge from the presenters and the content was relevant”
— José R. Fernandez, Bank of America – Charlotte, NC, USA

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Wells Fargo

“Great coverage of information”
— Cathy Swindell-Smith, Wells Fargo – Charlotte, NC, USA

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Axa Equitable Life Insurance Company

“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

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RBC

“The content was excellent and easy to understand. The presenters did a great job!”
— Susan Wilson, RBC – Toronto, Canada

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Comerico Bank

“Both speakers were exceptionally knowledgeable and provided practical information regarding the sanctions changes”
— Adam Hermes, Comerico Bank – Livonia, USA

EU and U.K. Sanctions Update: The Potential Effects of Brexit on U.K. Sanctions Law and How Compliance Officers Can Prepare For the Switch

Upcoming Webinar

Date:  Thursday, Sept 13, 2018

Time:  10:00 AM – 11:15 AM NYC,
03:00 PM – 04:15 Amsterdam

The U.K. currently derives its sanctions from European law to implement sanctions, regardless of whether they originated at the U.N., E.U., or OSCE. Since June 2016’s ‘Brexit’ decision, when the U.K. voted to leave the E.U., it has been unclear how the U.K. will implement sanctions policy after the divorce.

The new Sanctions and Anti-Money Laundering Bill, which is set to be passed by Parliament in 2018, will provide the U.K. powers to impose, update, and lift sanctions and AML regimes after the U.K. leaves the E.U. But will the U.K. sanctions landscape stay the same, or is it likely to change drastically?

In this SanctionsAlert.com webinar, you will learn:

  • What powers will be derived from the new U.K. Sanctions and Anti-Money Laundering Bill and how this will change (or not change) the sanctions landscape; and
  • What the potential effect of Brexit on U.K. Sanctions Law will be as well as how Compliance Officers can prepare for the switch.
OFAC

Duration: 

75 minutes

Sign up today!

 Great knowledge, great instructors, great value

Tell your friends, clients, customers and colleagues to sign up.

Certificate of Attendance

If you participate in the live webinar, you will receive a Certificate of Attendance, which you can use to show you meet your government-required training duties.

Michelle J. Linderman
Partner: Crowell & Moring LLP

Michelle J. Linderman is a member of Crowell & Moring’s International Trade Group in the firm’s London office. An English and Hong Kong qualified solicitor with nearly 20 years of experience, Michelle advises clients – such as international businesses, traders, ship owners, charterers, insurers, financial institutions, and energy companies – on U.K.-specific and cross-border sanctions, including matters that concern national and international trade and financial sanctions.

This work includes counseling on due diligence and compliance procedures; advising on the impact of sanctions on operations and transactions; drafting and advising on sanctions clauses in contracts and insurance policies; advising on the effect of sanctions on loans, investments, and payment issues; making applications to relevant authorities for licenses and authorizations; and, advising clients in relation to sanctions-related enquiries made by United Nations Panels of Experts.

Michelle is experienced in handling disputes for a wide cross-section of clients including ship owners, charterers, P&I insurers, traders, insurers, and others in relation to shipping and commercial disputes, including fraud. Her litigation capabilities extend to issues arising from maritime casualties, including collisions, groundings, fires, engine failures, salvage incidents, pollution, and unsafe ports, as well as charter party and bill of lading disputes. She has considerable experience in High Court litigation and London arbitration and has also handled litigation in a number of international jurisdictions including Hong Kong, the People’s Republic of China, South Africa, New York, Miami, Nevis, Jersey, and Guernsey.

Continuing Education

SanctionsAlert.com typically requests CAMS (Certified Anti-Money Laundering Specialist – ACAMS) and CAFP (Certified Anti-Money Laundering and Fraud Professional -ICB) credits for its live webinars. Please send us a message if you wish to confirm which credits have been obtained.

Moderator:

Anna Sayre, Legal Content Writer, SanctionsAlert.com

This Live Webinar is Included in the SanctionsAlert.com Membership. SanctionsAlert.com Members will receive an email with log in details one day before the Webinar. These are also posted on the SanctionsAlert.com Platform. After the Live Webinar, SanctionsAlert.com Members can also view this webinar on-demand on our Platform.

Attendee Testimonials

Logo

Bank of America

“Great knowledge from the presenters and the content was relevant”
— José R. Fernandez, Bank of America – Charlotte, NC, USA

Logo

Wells Fargo

“Great coverage of information”
— Cathy Swindell-Smith, Wells Fargo – Charlotte, NC, USA

Logo

Axa Equitable Life Insurance Company

“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

Logo

RBC

“The content was excellent and easy to understand. The presenters did a great job!”
— Susan Wilson, RBC – Toronto, Canada

Logo

Comerico Bank

“Both speakers were exceptionally knowledgeable and provided practical information regarding the sanctions changes”
— Adam Hermes, Comerico Bank – Livonia, USA