Sanctions & Embargoes

An embargo is a unilateral or collective restriction on the import or export of goods, materials, capital or services into or from a specific country or group of countries. Embargoes are similar to sanctions and are legal barriers to trade.

Financial institutions have the legal obligation to comply with the sanctions & embargoes imposed by their jurisdiction on other countries and must monitor, report, freeze assets and prevent transfers accordingly.

Sanctions & embargoes, while not directly part of anti-money laundering, are handled very similarly and are therefore usually a part of the AML process.

What you’ll learn

• How sanctions are created and enforced
• The different sanction types, their targets and exceptions
• The jurisdictional reach of sanctions and to whom the concept applies
• How violations happen and how to prevent them
• What a robust sanctions compliance program looks like
• How to conduct sanctions due diligence
• What sanctions screening is
• Investigating and reporting sanction breaches

Intended audience

• Entry-level AML compliance professionals looking to expand their knowledge
• Mid-level AML compliance professionals looking to expand their knowledge
• Individuals looking to specialize their AML career on sanctions & embargoes
• AML service providers looking to train their staff in sanctions & embargoes
• Compliance Management Staff looking to expand their knowledge

Course characteristics

• Online and self-paced
• AFC-Nuggets
• Knowledge Checks
• Highly interesting due to the inclusion of real-life example cases
• Fun and interactive
• Final assessment with possibility of certification