The risk of sanction breaches
Your business can be subject to a wide range of sanctions issued by different authorities including the UN Treasury department, financial services regulators or industry and sector oversight bodies.
Being aware of your obligations will go a long way to protecting your business
Understanding where your business is subject to sanctions risk, and developing appropriate policies and procedures so that your staff remain aware of their obligations, will go a long way to protecting your business from reputational damage, financial penalty, restriction of doing business, loss of licence or possible criminal charges.
Protecting your Firm
Sanctions represent a significant regulatory risk but having effective policies and procedures can mitigate these risks. CCL can help you to structure your business to meet the demands of sanctions compliance. We can:
- Assess your business risk exposure to local and international sanction regimes
- Conduct a full audit of your current sanction control arrangements, identifying where you are at risk and provide recommendations for improvements
- Develop robust procedures that are proportionate to your Firm’s business activities to help manage the risk of global sanctions requirements.
- Provide you with advice on sanction regimes and how to prevent sanctions breaches
- Design training programmes to enhance internal controls around sanctions
What should you do now?
To discuss your requirements and for advice on ensuring your Firm’s Sanction Compliance contact our compliance consultants