Tag: OFAC
How insurance companies can mitigate risks with effective sanctions compliance
Sanctions serve as a powerful foreign policy instrument, exerted by governments to influence behaviour by penalising nations, entities, or individuals engaged in unlawful activities. According...
How the 50 percent rule impacts international business compliance
The US, UK, and EU each implement a "50 percent rule" within their sanctions frameworks, crucial for monitoring international financial activities.
New era of US sanctions: How compliance could change in the...
As we move into the latter half of 2024, the landscape of international relations is increasingly fraught with challenges, from escalating global conflicts to...
How global regulatory compliance shapes financial services
Never before has the need for global regulatory compliance been so critical, with companies operating across international borders and facing a labyrinth of diverse regulatory frameworks. This comprehensive guide explores what global regulatory compliance entails, its significance, and the main compliance categories.
Safeguarding financial integrity through advanced AML compliance strategies
In today's financial landscape, AML transaction monitoring is key for protecting the integrity of financial institutions and the global financial system. This continuous surveillance of...
Navigating the complex landscape of global sanctions in 2024
Sanctions play a crucial role in international diplomacy and law enforcement, ensuring that countries and entities adhere to international norms and regulations. Keeping up to date with the ever-evolving sanctions regulations, including OFAC's 50% Rule and the EU's new directives, remains a top priority for companies worldwide.
US regulatory priorities in 2023 & the coming years
In recent years, United States financial regulators have established themselves as global leaders in enforcement. In 2022, they imposed $3bn in fines, nearly three...
Ensuring financial security: How firms comply with the OFAC SDN list
A recent post by Alessa has detailed what the Office of Foreign Assets Control Specially Designated Nationals and Blocked Persons List is.
Unlocking the secrets of enhanced due diligence in global finance
The world of global finance comes with its share of dangers. From the looming shadows of money laundering to the menace of terrorist financing, safeguarding transactions is not just prudent, it's mandatory. This brings Enhanced Due Diligence (EDD) into the limelight.
Regulatory penalties for global financial institutions see sharp decline in H1...
Regulatory fines slapped on global financial institutions saw a staggering 88% dip in H1 2023 compared to the same period last year. This significant decline was unveiled in a report from Fenergo, the top-tier provider of digital solutions in client lifecycle management (CLM).