The Complexities of Dealing with Iranian Business Counterparts – Tips and Practicalities

January 8, 2018

Since the implementation of the Joint Comprehensive Plan of Action, or JCPOA, in early 2016, the international community’s plan to slowly ease sanctions against Iran has led to banks and financial institutions becoming increasingly unsure about which transactions are allowed and which are still too risky to undertake. As such, compliance officers and other professionals have had to navigate extremely treacherous waters. (more…)

Wake Up To Sanctions

SanctionsAlert.com Sanctions Round Up
December 28, 2017

UK Parliament Publishes Report on Potential Compliance Impact of ‘Post-Brexit’ Sanctions

On December 17, the UK Parliament’s European Union External Affairs Sub-Committee published a report on British sanctions policy, including the likely legislative framework for sanctions in a post-Brexit Britain. Deeply buried inside the 50-page report is a section with useful information for sanctions compliance professionals who may wonder to what extent businesses operating in the UK will be affected by any Brexit-inspired changes. (more…)

SanctionsAlert.com Member Profile – Debra Geister: Entering the Sanctions Field With An Operational Background

December 22, 2017

The issue of OFAC/sanctions compliance cuts to the root of concerns among compliance officers at corporations and financial institutions doing business internationally.

The increasingly complex nature of sanctions programs has led to the need for qualified persons equipped with the knowledge to tackle the day-to-day compliance and operational duties brought on by the ever-changing rules that govern sanctions policy.

In order to gauge a real-life perspective of those in the business, SanctionsAlert.com has taken the time to ask sanctions professionals what they think is the best way of breaking into the sanctions field and how they see the future of the sanctions industry unfolding.

(more…)

The Relatively Little-Known Role of the U.S. State Department in Sanctioning Terrorists and its Consequences

December 5, 2017

In addition to the U.S. Treasury, the U.S. State Department has great influence over the implementation of U.S. sanctions policy in designating terrorists. Despite this important role, over 90% of compliance professionals recently polled by SanctionsAlert.com are either “not so familiar” with the State Department’s designations or “did not know” at all that it could designate.

The imposition of sanctions by the U.S. against terrorists, terrorist organizations, and their support structures is a powerful tool in the detection and prevention of terrorism. (more…)

A ‘Modest Proposal’ for Cuba: OFAC, BIS and State Department Implement President’s New Cuba Policy

November 24, 2017
By: EdKraul and, Brian Egan, Keith Huffman, Meredith Rathbone, Jack Hayes, Anthony Rapa, and Peter Jeydel*

Effective November 9, 2017, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the Department of Commerce’s Bureau of Industry and Security (BIS) amended the Cuban Assets Control Regulations (CACR) and Export Administration Regulations (EAR), respectively, to implement changes to US Cuba sanctions policy articulated by President Trump in a presidential memorandum issued June 16, 2017. Concurrently, as required by the presidential memorandum, the Department of State published a list of 180 entities and sub entities associated with Cuban military, intelligence, and security services (Cuba Restricted List).  (more…)

Wake Up To Sanctions

SanctionsAlert.com Sanctions Round Up
November 17, 2017

EU removes FARC from terrorist list; imposes first set of sanctions on Venezuela

On November 13, 2017, the E.U. removed Colombian guerilla group FARC from its terrorism sanctions list following its disarmament and re-launch as a political party. Earlier, in September 2016, the E.U.had suspended its terrorism sanctions on FARC in recognition of the peace agreement signed between FARC and the Colombian government.

(more…)