Fraud Prevention eLearning

This introductory sanctions eLearning module will explain why it is so important for firms to understand what sanctions are, what sanctions regimes may apply and how to manage and mitigate the risk of breaching relevant sanctions.

With a very practical focus, this training module describes who implements sanctions and why they do that; how these regimes have effect and in what way you and your firm may come within their scope; and how, by taking a systematic and risk-based approach you can manage and control those risks, following recommended best practice.

This module and the end assessment can be tailored to incorporate client-specific content.

Introduction - What Sanctions are:

• International sanctions
• Commercial and trade sanctions
• Tariff and non-tariff trade barriers; export controls; dual-use goods
• Asset freezes
• Directions to cease business
• Anti-terrorism and non-proliferation

The Key Sanctions Implementing Bodies

• UN Sanctions

• The UN’s role in and approach to sanctions
• Member states and the application of UN sanctions
• UN Sanctioned countries

• US Sanctions

• Office of Foreign Assets Control (OFAC)
• Scope and applicability of US Sanctions
• Specially Designated Nationals
• Sectoral sanctions
• Countries under US sanctions and in what way
• Other: Magnitsky, Blood diamonds, non-proliferation, transnational criminal organisations.
• OFAC licences

• UAE Sanctions

• UAE approach to UN and US sanctions
• UAE specific sanctions

• EU Sanctions

• Scope and applicability
• Sanctioned entities
• Implicit sanctions
• Local enforcement
• Iranian JCPOA divergence

Penalties & Enforcement

• UN approach to enforcement
• OFAC global reach
• OFAC penalties
• UAE enforcement and penalties

Managing Sanctions Risk

• Sanctions Risk

• The importance of a risk-based approach to sanctions
• Best practice
• Clients and associated parties
• Organisational red flags
• Third-party red flags
• Exploratory review
• Screening and media searches

• Ongoing Monitoring

• Periodic reviews
• Trigger reviews: Types, analysis, who does what
• Internal reporting: when and to whom.
  
  

Assessment