5 Steps to Implement a Sanctions Compliance Program
With OFAC’s reach lengthening in the past few years, organizations should play close attention to their sanctions compliance program (SCP). ...
Tag: Office of Foreign Assets Control (OFAC)
Financial and Reputational Loss: A Price Too High
ForteBank CCO Timur Mussin continues a discussion on the real cost of noncompliance with a look at the various penalties ...
Banks Set to Accelerate Digital Transformation in Response to COVID-19
COVID-19 has caused a significant shift in the way financial institutions are doing business. Fenergo’s Rachel Woolley discusses what they ...
Why Hong Kong is China’s Sanctions Hot Spot
Clifford Chance’s Wendy Wysong and Nick Turner discuss the sanctions risks looming in Hong Kong and what companies operating there ...
Economic Sanctions Compliance in the Age of Blockchain
4 Considerations to Mitigate Risk Among the chief concerns of those using blockchain (and its critics) is the lack of ...
Crossing the Dotted Line: OFAC Penalty Clarifies Rules on Sanctioned Execs
With contributing authors Ali Burney and Nicholas Turner The Office of Foreign Assets Control has just levied a penalty against ...
Asia-Pacific’s Link to the Russian Oligarchs
A Compliance Challenge On April 6, the U.S. imposed economic sanctions on a number of Russian individuals and entities (specially ...
Admit It – Your Compliance Program is Not Really “Effective”
“Happy talk” amounts to empty words absent a frank, honest discussion of the issues. Michael Volkov explains one reason why ...
A Compliance Crisis in North Korea
How to Avoid Sanctions Risks A recent advisory issued by the U.S. Department of the Treasury’s Office of Foreign Assets ...
Managing the Risks of a U.S.-Iran Nuclear Deal Withdrawal
Practical Steps Non-U.S. Companies Can Take Now The international business community is watching intently to see whether the United States ...
5 Common Weaknesses in OFAC Sanctions Compliance Programs
If your business activities take place in the U.S., you need to be doing OFAC screening. Michael Volkov offers five ...
OFAC Puts Asian Companies on Notice with “Compliance Framework”
The Clifford Chance team covers OFAC’s recently published “Framework for OFAC Compliance Commitments,” with a particular focus on how the ...
