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Compliance That Makes Sense


Oct 18, 2021

Most people are aware of the seriousness of sanctions but don’t properly understand the nuances or the mechanics behind them, which leads to the formulation of a number of misconceptions. In today’s episode I’m going to shed some light on this topic, and by the end you’ll have a better understanding of the types of sanctions that exist, and how, as a financial institution, you should be dealing with them. 

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Today's episode:

[00:48] Why I decided to make sanctions the focus of today’s episode. 

[01:54] How sanctions are imposed. 

[02:26] The two countries that are currently under sanctions, and why this is such a rare occurrence. 

[03:47] Some of the reasons that specific individuals would have sanctions against them, and what these types of sanctions mean. 

[04:55] An explanation and examples of the third category of sanctions: sanctions against groups or organizations,  

[06:41] How sanctions against industries and commercial activities work. 

[07:43] Why is it important to understand the different types of sanctions that exist.

[09:32] Some contradictions in the sanctions realm which can make the life of a compliance officer very interesting. 

[11:00] My recommendation for dealing with countries, industries, people, or organizations that are under sanctions. 

[12:16] How financial institutions should implement sanctions requirements from a technical standpoint. 

 

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