Sanctions Risk: What is the Regulatory Challenge for Compliance Officers?

November 02, 2012
Compliance with domestic and international sanctions regimes has become one of the main regulatory challenges for compliance officers from financial institutions. With a sharpened focus on initiating investigations and the determined enforcement of export control and sanctions provisions -- together with a series of record-breaking penalties -- the consequences of breaching the associated regulatory obligations are extremely serious and almost always lead to heavy fines and significant reputational damage. This article addresses the types of issues faced by compliance personnel from financial institutions.