A number of regulated firms have been fined large amounts of money for breaches of financial regulation, including failure to establish and maintain effective anti-money laundering (AML) controls for high risk customers; and for significant failings in systems and controls.
There are international sanctions which exist to prohibit the transfer of funds to sanctioned countries and to freeze the assets of target governments, corporate entities and individuals in the event of regulatory beaches. It is therefore important that members of regulated firms understand the nature and scope of international sanctions and their impact on the firm, via UK legislation.
On completion of this course, you will gain an understanding of:
- What international sanctions are
- Types of sanction
- The background to sanctions
- The regulatory framework
- The Bribery Act 2010
- Anti-money laundering sanctions
- Anti-terrorist sanctions.