Sanctions – Best practices for preventing transactions from falling through the cracks

April 8, 2015 4:00pm

Moderator

Ron King
Senior Vice-President, Head of Corporate and Canadian Banking Compliance
Bank of Nova Scotia

Panelists:

Keith McCormick
Senior Manager, Sanctions Compliance
BMO Financial Group

  • Emerging trends in sanctions compliance
  • Can you still be caught by sanctions if you are only indirectly involved in a transaction as a correspondent bank?
  • Beyond the list – How far do you have to go in determining whether an entity or individual involved in a transaction is subject to sanctions?
  • Using multiple lines of defense to manage your risk
  • Dealing with terrorist financing
  • Operationalizing sanctions enforcement over multiple jurisdictions
  • Addressing the dual challenges of transaction volume and publicly available information
  • Penalties for non-compliance
  • The future of EDD – ensuring that you are not dealing with sanctioned persons