The sanctions rules are under increased scrutiny due to the recent changes imposed globally as a consequent of the recent European geopolitical crisis. This has put pressure on organisations to revise their ways of working and increase knowledge of the standards.
This timely course not only looks at the changes to the sanctions standards together with international guidance but also considers the financing of terrorism which is also an area of increasing global business and governmental concern.
The programme provides practical advice and guidance which will assist any business with
a risk-based approach as to confronting the issues to be and how to mitigate them rather
than to focus narrowly on the sanctions requirements for banks, financial institutions and corporations.
- To understand the changing rules on sanctions and how they are applied globally
- To appreciate how sanctions are avoided
- To understand the role of sanctions risk and the way investigations are conducted
- To enable participants to understand what terrorist finance really are
- The techniques used by terrorist financiers
- To consider the rules and regulations applying and think through the issues attached to suspicion and reporting
- The sanctions regime globally
- The UN and EU and local legislation
- International purposes of Sanctions
- Relationships and knowledge
- Policies, procedures and actions
- Implementing a global sanctions regimeParticipants will learn how to understand the mind of a terrorist financier and will be able to consider the control structures they may employ in their particular jurisdiction
A live, highly interactive virtual classroom featuring a Tier 1 global banking financial crime expert using case studies, group exercises and supported by presentations of principles and where needed theory.
Session 1: An Introduction to Sanctions
- The role of sanctions
- Where are they implemented
- Sanctions and Sanctions Risk
- Client on-boarding and sanctions
- The questions to ask
- The most recent sanctions changes – what do they mean
- Education and training
- Guidance and actions
Practical case study
Session 2: International Sanctions
Practical case study
Session 3: How are Sanctions Breached?
- The typical approach adopted
- State organised or professional business units
- Routes to avoid sanctions
- Known cases in practice
- How to raise awareness
- Maintaining suitable scepticism
- Using AI
- Modelling and monitoring
- Activities and actions
Session 4: The US Dimension
- Extra territoriality- US PATRIOT ACT
- OFAC and Enforcement
- FCPA, bribery and corruption
Session 5: Terrorist Financing
- What is a terrorist?
- How will they be defined
- What do your staff need to know
- The requirements and obligations
- The relationship to money laundering and fraud deterrence programmes
- Where is information available?
- Additional activity required
- Building an appropriate structure
- The importance of education
Practical Case Study
Session 6: How do Terrorists Finance
- Typical approaches and techniques
- Professional terrorist financing
- Cases identified
- Controls that need to be applied
Session 7: Conducting Investigations
- Tipping off
- Obtaining information with care
- Conducting internal interviews
- Obtaining external information
- Reporting your concerns
- Exiting a client relationship
- Dealing with a disgruntled customer
- Avoiding false positives
Case Study: Role Play
Session 8: Account Set Up
- Which types of accounts are most likely to fall prey to terrorist financing
- Are all products equally at risk
- The reputational impact
- Implementing relevant policies and procedures
- It’s not about the rules – it’s about you and your firm
- Obtaining information in specific cases
- Dealing with high risk customers and countries
- What is enhanced due diligence really?
Practical Case Study
Session 9: Monitoring Activity
- What should be done to identify terrorist financing?
- How will you check whether an existing client has sanctions against them now?
- Dealing with reports generated by systems
- Investigating concerns
- Wilful blindness
- Reporting to the FIU
- Monitoring by senior management
- Annual reporting and control
Practical case study
PROGRAMME DIRECTOR – DENNIS COX BSc BFP FCA FCSI
Dennis is the Chief Executive of Risk Reward Ltd, where he oversees all consulting and training projects. A UK Chartered Accountant and internationally recognized financial services risk management, compliance, internal audit and financial crime expert, he specializes in the interdisciplinary forward-looking impact of and opportunities of regulation, digital technologies, and the challenges surrounding credit, market, liquidity/treasury and operational risk, as well as successful compliance implementation techniques and model validation assessment, robustness and best practise.
He has more than 30 years of experience in the areas of risk, banking, financial crime, audit, and accounting having held senior management positions within the banking and accountancy profession as Head of Internal Investigations at HSBC Global Bank, Director, Risk Management at HSBC Insurance Brokers Limited, and Director, Risk Management, Prudential Portfolio Managers. Formerly he held a number of roles within the audit profession, including Senior Audit Manager (Compliance) at HSBC Holdings PLC and Senior Manager (Banking and Finance) at both BDO Binder Hamlyn and Arthur Young (now Arthur Anderson and Ernst & Young),
Since 2002 regional and national regulators and banks and financial institutions (traditional and Islamic) worldwide have benefited from the regulatory, technical and behavioural guidance and training afforded by Mr Cox directly and via well-established and trusted third parties.
He is a Fellow, Co-founder and Chairman of the Risk Forum for the UK Chartered Securities and Investment Institute and administers the Risk Reward Global Risk Forum on LinkedIn. A Fellow of the Institute of Chartered Accountants (FCA), he has also been a National Council Member for 17 years and a representative of the public as Council Member of the Institute of Actuaries (Insurance) for 10 years. He teaches the Global Financial Compliance; Combatting Final Crime and the Conduct Risk courses as examination preparation for certification by the CISI.
He holds an honours degree in Mathematics from the London University Westfield College.
A much in-demand speaker and trainer known for his highly-interactive, practical, job-role approaches, ease of communicating complex topics into an enjoyable social learning experience with wit and personal attention to delegates, Mr. Cox is the author of An Introduction to Money Laundering Deterrence and The International Handbook of Money Laundering Deterrence, and Banking and Finance: Accounts, Audit and Practice, He is the co-author of The Mathematics of Banking & Finance and is the senior editor and author of several chapters in The Frontiers of Risk Management.
Virtual Classroom via Cisco WebEx
Experience the highly-interactive expert-led social learning through Virtual Classroom via Cisco WebEx from Nolwazi Africa..
All our 2022 Virtual Classroom events feature shared (or discrete) live chat between delegates and the expert, participate in topical surveys, polling questions, group exercises and case studies for a tried -and- true engaging and gratifying learning experience.
Need to bring this course in-house or face-to-face? Simply contact us for significant cost savings and dates best suited to meet your professional development and business goals.
To register, please download the PDF & complete the form on the last page. Fax it to 086 570 8986. Or please contact us on +44 7596816855 for further information.