Spotlight on sanctions

Understanding beneficial ownership to uncover hidden sanctions risk

Identifying and mitigating sanctions risk used to be a relatively straightforward process of screening customers and third parties against published sanctions lists. However, the use of complex corporate structures to obscure money laundering and other illicit business activities means that this “first level” screening is no longer enough.

Enhanced sanctions regulation, including the US and EU 50 per cent rules, mean that sanctions screening must now be extended to the individuals and entities that ultimately own or control an organisation, but building this picture can take a considerable amount of time.

In this webinar we are joined by Samantha Wolreich (Special Lists Director, Dow Jones Risk & Compliance) to discuss:

  • what effective compliance with today’s fluid global sanctions regulation involves
  • the challenges of existing approaches to sanctions screening when it comes to balancing compliance requirements with business pressures
  • the importance of a deep understanding of corporate ownership in an effective sanctions compliance programme
  • the role of RegTech in streamlining sanctions compliance and enhancing protection from regulatory risk

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