Financial Sanctions Compliance Training

Financial and economic sanctions are binding prohibitions applied by governments to prevent business transactions with certain designated persons. They may be rogue organisations, countries, regimes or specific individuals.

Violations of sanctions issued by the UN, the US and the EU, placing restrictions on payments and other financial transactions, can result in fines and criminal charges.

Our Financial Sanctions Compliance Training Course will help your employees understand what financial sanctions are, their impact on business operations and how to ensure compliance.

About this Course

Available as part of our Compliance Essentials Library.

Learning Objectives

This course will prepare your employees to:

Recognise what financial sanctions are and the purpose that they are designed to achieve
Identify the steps our Company takes to comply with sanctions
Comply with your own obligations under the Company's policy and procedures in relation to sanctions
Seek advice and report matches and transactions to avoid sanctions violations

Latest Course Updates

A full review conducted by a legal expert
Minor updates made based on the review
Two new scenarios added
Added information about Proliferation Financing

Course Outline

Introduction

What are financial sanctions?

- Who imposes sanctions?
- Types of financial sanctions
- Mind the USA!
- Sanctions terminology
- Consequences: In the news…
- You decide: What is the risk?

Sanctions controls

- Company sanctions
- How we apply sanctions
- Your obligations
- You decide: Is it correct or not?
- Customer onboarding
- Payments
- Wire stripping
- Third parties
- You decide: Sanctions compliant?

Screening & matching

- The screening and matching process
- You decide: What type of match is it?
- Best practice: Screening and matching

Implementing financial restrictions: asset freezes

- What this means for you
- You decide: Is it allowed or not?
- Scenario: Angela's client
- Scenario: Receiving payments from designated persons
- Scenario: Insurance and designated persons

Entities: Ownership & control

- Scenario: Sanctions and ownership
- Scenario: Insuring entities
- Scenario: Sanctions and partnerships
- Scenario: Sapphire

Scenario: Sanctions checks

- The workaround
- Scenario: Roya and Kazem's story

Our reporting & record-keeping obligations

- Record keeping

Summary

Affirmation

Assessment

Course Specifications

Structure

Approximately 45-minute long e-learning course followed by a 10-question assessment.

Audience

Suitable for all staff - examples and interactivities designed for staff at all levels. No previous knowledge or experience required.

Design

SHARD-compliant, responsive display on all devices, accessibility on screen readers, visual design controlled via a client style sheet.

Fast Track Option

Ability to offer optional test-out, whereby users can choose to skip the course content and complete the learning assignment simply by passing the assessment.

Compatibility

All Windows, Mac OSX, iOS, Android (Flash-free for mobile compatibility). AICC and SCORM 1.2-compliant, suitable for both hosted and deployed SCORM or AICC.