Holding the Oligarchs to account – the impact of sanctions?
This webinar forms part of the 2024 Financial Crime Prevention Series.
Description
This webinar provides one-hour of CPD and offers insights and updates from a leading industry-expert speaker.
All webinars can be booked individually, or you can book the entire series for a discounted cost. Delegates places are also interchangeable with colleagues from the same organisation.
Book the full series of webinars at a discounted price.
View the full series
Content
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Overview of Current Sanctions Framework and Legislation
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Key Legislation: Update on the latest UK and international sanctions legislation, including the Economic Crime (Transparency and Enforcement) Act 2022
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Regulatory Expectations: Discuss the role of UK financial regulators (FCA, OFSI) and their expectations for compliance and enforcement
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International Coordination: How the UK’s sanctions regime aligns with those of key allies, including the US, EU, and others
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Impact of Sanctions on Financial Institutions
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Operational Challenges: Examining the challenges financial institutions face in implementing and maintaining effective sanctions controls, including customer due diligence (CDD), transaction monitoring, and screening
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Risk Management: How to identify and mitigate risks associated with exposure to sanctioned entities, including secondary sanctions and reputational risks
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Legal and Reputational Risks for Non-Compliance
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Enforcement Actions: Recent enforcement actions against UK financial institutions for sanctions violations, with a focus on lessons learned
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Reputational Impact: Discuss the potential reputational damage and business disruption from being associated with sanctioned entities, even inadvertently
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Emerging Trends and Challenges in Sanctions Evasion
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Tactics Used by Sanctioned Entities: An overview of how oligarchs and other sanctioned individuals/entities attempt to evade sanctions (e.g., use of shell companies, cryptocurrencies, offshore accounts)
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Technological Solutions: Highlight the role of advanced analytics, AI, and blockchain in detecting and preventing sanctions evasion
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Future Outlook and Strategic Responses
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Evolving Sanctions Landscape: Predictions on how the sanctions landscape might evolve in response to geopolitical developments, particularly concerning Russia and other high-risk jurisdictions
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Strategic Approaches: Best practices for financial institutions in enhancing their sanctions compliance programs, including collaboration across the industry, training, and leveraging technology
Presenter
Corinna VenturiFounder & Financial Crime Consultant at Coventium |
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Corinna Venturi is a financial crime prevention subject matter expert who has worked with UK and EU firms since 2007 helping to protect them from regulatory sanctions and abuse by money launderers, fraudsters and other criminals. After many years working inhouse at larger organisations, Corinna decided to set up Coventium Limited which would enable smaller firms and start-ups that fall under the UK Money Laundering Regulations to benefit from director-level Financial Crime Prevention / AML Compliance consultancy services, without having the significant overhead of employing such an individual full-time. |