In a decisive strike announced this morning, the UK intensified its sanctions against Russia, focusing on cutting off crucial supplies to Moscow’s military efforts in Ukraine and its influence operations in Africa. In a press release issued by the Foreign, … Read More
Sanctions
Starling Bank’s £28.9m wake-up call: Lessons for compliance teams
This week, the FCA imposed a near £30m fine on Starling Bank for what it described as ‘shockingly lax’ financial crime controls that left the bank vulnerable to criminal activity. The UK-based digital challenger bank launched in 2016 and quickly … Read More
Navigating sanctions and SRA advice: a guide for law firms
This article will provide a detailed overview of the SRA’s stance on complying with sanctions, sharing guidance on adhering to regulatory requirements, and helpful information about how to conduct client identification and screening. … Read More
Enhance business compliance with effective sanctions screening
In today’s business environment, compliance with sanctions regulations is paramount for organisations across regulated industries. Sanctions screening, a process aimed at identifying and mitigating potential risks associated with conducting business with sanctioned individuals, entities, or countries, is a crucial component … Read More
Navigating the complexities: solving the top challenges in sanctions screening
In today’s globalised economy, sanctions screening has become a critical component of compliance for financial institutions and businesses across various sectors. The primary objective of sanctions screening is to prevent transactions with individuals, entities, or countries that are subject to … Read More
Tackling global financial crime: the role of sanction screening in modern AML frameworks
At the heart of AML efforts is sanction screening. But what are sanctions, and why is screening for them so crucial? … Read More
Wired-In webinar: Navigating the global sanctions landscape in 2023
In a thought-provoking Wired-In webinar, we explored how to navigate the ever-changing global sanctions landscape in 2023. … Read More
What are sanctions and what do they mean for compliance?
As of April 2023, the UK government lists over 16,000 economic sanctions on individuals and entities. The type of economic sanction imposed can vary from assets being frozen, travel bans, trade embargoes, and financial restrictions. … Read More
Wells Fargo sanctions violations: key learnings for compliance
At the end of last month, Wells Fargo was slapped with a near $100m fine for its role in helping a foreign bank skirt US sanctions on more than half a billion dollars of transactions. … Read More
What PEPs and sanctions checks are mandatory in the UK?
Politically Exposed Persons (PEPs) and sanctioned individuals, entities or nations are two critical areas of compliance for regulated firms. As part of their obligations in the prevention of money laundering, terrorist financing and other forms of financial crime, firms must … Read More