Economic Sanctions

The complexity in sanctions, and with it the number and volume of monetary penalties has made the area of sanctions compliance a growing concern for banks and financial institutions. Institutions that do not incorporate a comprehensive sanctions programme run the risk of detection and penalties, loss of correspondent banking relationships, legal costs and reputational damage. The Fintelekt Certificate on Economic Sanctions enables banks to provide training to relevant staff members on economic sanctions and is a necessary component of a robust sanctions compliance programme.