Sanctions Risk Assessment

Sanctions Risk Assessment Training

Sanctions are very powerful tool used by governments, supranatural organisations (e.g. UN, OFAC, EU, OFSI) and regulatory authorities. The scope of the sanctions may cover individuals, organisations and regimes as well as regions and countries. The wide scope of sanctions applicability makes it a very complex subject to fully comprehend, hence bespoke sanctions risk assessment training is critically important. The cost of non-compliance may be substantial with long term consequences for the organisations. Sigma Risk Sanctions Risk Assessment Training Masterclass is designed to equip our clients with necessary knowledge, understanding and skills required to effectively identify the risks, perform risk assessment and mitigate the risks to ensure compliance with global sanctions requirements.

Learning Objectives

The masterclass is designed to assist the participants in understanding the purpose and scope of global sanctions, various sanctions regimes and their enforcement, screening requirements, dual-use goods, consequences of non-compliance and industry best practices.

Course Outline

Sanctions Risk Assessment Masterclass is structured in 4 sections, each designed to ensure that participants learn theoretical as well as practical knowledge through various very engaging activities.

Session 1

  • Introduction
  • Latest on sanctions landscape
  • Cost of Non-Compliance
  • Sanctions & their purpose
  • Types of Sanctions & their application

Session 2

  • Who can impose the sanctions and their respective scope
  • Who might be the targets of sanctions
  • Deep dive into UN, OFAC, EU, OFSI and local sanctions
  • Case Study – How sanctions evasions may take place in real world

Session 3

  • Specially Designated Nationals (SDNs)
  • Sectoral Sanctions
  • What is 50% rule and how to evaluate its applicability
  • Dual Use Goods
  • Case Study in scope of JCPOA

Session 4

  • Who, what and how to screen for sanctions?
  • Real life case study – Identifying sanctions evasion
  • What does an effective sanctions risk assessment framework looks like?
  • Major sanctions fine (What went wrong and who was responsible)
  • Knowledge Test
Course Format

Masterclass may be delivered in-house at the client site (minimum 10 participants) or through virtual classrooms for smaller groups or individual clients.

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