SANCTIONS COMPLIANCE TRAINING COURSE
A sanction is a restriction that is imposed on a country, a specific person, a legal entity, or an organization. They are used by governments as a non-violent foreign policy tool to fight activities such as financial crime, human rights abuses, the sheltering of international criminals, nuclear weapons development, and terrorism. Businesses in many jurisdictions are required to monitor their business activities for any sanctions and are prohibited to deal with sanctioned parties or individuals.
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
| Content | Standard Course | Certified Course |
| AFC-Learning Nuggets | ✓ | ✓ |
| Knowledge Checks | ✓ | ✓ |
| Self-paced | ✓ | ✓ |
| Real-life example cases | ✓ | ✓ |
| Interactive tasks | ✓ | ✓ |
| 24/7 access anytime& anywhere | ✓ | ✓ |
| Up to date | ✓ | ✓ |
| Courses developed by experienced AML experts | ✓ | ✓ |
| Personalized Certificate | ✕ | ✓ |
| Bonus best practice tips | ✕ | ✓ |
| Useful downloadable bonus material | ✕ | ✓ |
| Bonus Digressions | ✕ | ✓ |
| Live Q&A Session with one of our training professionals | ✕ | ✓ |
| Marked final assessment | ✕ | ✓ |
In addition to covering sanctions, what they are, who needs to monitor for sanctions as well as how it is done, this sanctions compliance training course also covers embargos.
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.
Most 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. Busineses are not allowed to do business with certain sanctiond countries or individuals. This required comparing their customers to global sanctions lists. In case there is a match, analysts must check whether it is a true hit or a false hit and ultimately ensure to inform the authorities if a sanctioned entity has been identified.
Sanctions & embargoes, while not directly part of anti-money laundering, are handled very similarly and are therefore usually a part of the AML process. Many process steps, especially screening is very similar to PEP and negative news screening during customer due diligence and know-your-customer (KYC) checks.
This sanctions compliance training course covers all aspects of sanctions including, but not limited to:
- What sanctions are
- Who issues sanctions and who must ensure they are implemented
- How to monitor sanctions compliance within your institution
- How to setup a sanctions compliance regime within your institution
- Best practives how to efficiently handle the workload
Individuals
Will you aid your institution to remain sanctions compliant in order to create a safe and innovative environment for businesses to thrive in and create new, efficient and helpful solutions to end consumers and businesses. The certified course provides a certificate which demonstrates your expertise in the area.
Business Owners
Ensure that your business or institution remains compliant in order to avoid fines and other restrictions so that you can focus on entirely on optimizing and promoting your product or service. Educated employees can increase effectiveness and reduce costs when undertaking relevant asanctions checks and ongoing monitoring. AFC Academy sanctions compliance training certified employees are ready to go immediately and save you a lot of time & effort in the ongoing efforts in ensuring sanctions & embargo compliance.