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Harry Cassin
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Sanctions compliance: The new FCPA?

In recent months, the U.S. Treasury Department’s sanctions enforcement unit, the Office of Foreign Assets Control (OFAC), has made it clear that sanctions compliance will continue to be a global issue. Particular transactions will be scrutinized, making it important for financial institutions that do business internationally to manage their risks appropriately.

Recently, FCPA Blog-sponsor AlixPartners hosted a webcast on OFAC Compliance entitled: OFAC Enforcement and Compliance: The New FCPA?

During the webcast, we discussed that for many financial institutions OFAC compliance represents a significant risk given the potential regulatory sanctions that have carried billions of dollars in fines. Other key points discussed included: conducting a robust OFAC risk assessment, those challenges posed by sectoral sanctions against Russia, third-party management, and complying with both OFAC and EU sanctions from the perspective of internally operating businesses.

To listen to the free webcast, click: here


Sven Stumbauer is the Director of Financial Crimes Compliance of AlixPartners

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