Dentons’ Post

useful tips for those who need to implement sufficient sanction screening program

Interested in an insightful article, exploring the complexities of Russia sanctions, the crucial role of global sanctions screening, and how trade compliance software can simplify efforts to meet growing regulatory demands? Read on! #TradeCompliance #Sanctions

I am thrilled to announce that I have recently been certified by the Institute for Financial Integrity and K2 Integrity after completing the training program, "Evolving Risks and Regulations Associated with Multilateral Sanctions for Trade and Professional Associations." During training, thanks to Dj Wolff and Amir Fadavi, I had the opportunity to learn a lot of valuable, up-to-date practical insights on multilateral sanctions and trade control processes. The program covered a wide range of topics, including (i) types of sanctions, (ii) current sanctions and export control regulations and different approaches of the US, EU and UK authorities (iii) the latest situation in Russia, (iv) sanctions evasions/mitigation techniques and (v) effective sanctions compliance programs for businesses. I am enthusiastic to apply this knowledge and navigate businesses in a challenging geography through the complex landscape of sanctions and trade control. #TradeCompliance #Sanctions #ExportControl #RiskManagement

The Office of Trade Sanctions Implementation #OTSI will launch in October 2024 Housed within the Department for Business and Trade, OTSI will:  ➡️ Oversee the civil enforcement of certain trade sanctions as they relate to UK services and overseas trade with a UK nexus; ➡️ Have the power to impose monetary penalties for breaching sanctions regulations, at a maximum of £1 million or 50% of the estimated value of the breach, depending on which is higher; and  ➡️ Be able to make public disclosures of breaches. 💡 OTSI’s enforcement powers will apply to all UK persons including businesses (located anywhere in the world), and any person including businesses in the UK or the UK territorial sea. 🗓️ OTSI’s civil enforcement powers will be granted by The Trade, Aircraft and Shipping Sanctions (Civil Enforcement) Regulations 2024 entering into force on 10th October. The regulations will also introduce reporting obligations for relevant persons, and powers to request information. ✅ Plenitude RegSight and its subscription newsletter keeps you informed of the evolving Sanctions regulatory landscape in the UK and its impacts for firms. Visit our website for more information: https://lnkd.in/ebAjkz5y Learn more: https://lnkd.in/eiRgnPZH

In this article, we explore the complexities of Russia sanctions, the crucial role of global sanctions screening, and how trade compliance software can simplify efforts to meet growing regulatory demands. #TradeCompliance #Sanctions

Check out this article, where we dive into the intricacies of Russia sanctions, the importance of global sanctions screening, and how trade compliance software can streamline your compliance with increasing regulatory requirements.

A hot topic this week was the 14th sanctions package. A lot of rumours have been going around what it contains, but we cannot be sure until the official act has been published. The new package also brings back the question of how to deal with the ever-growing demand for staying compliant with the sanctions. You can find some tips, tricks and more in our latest blog! If you would like to know more about how we can help you stay compliant with the most recent sanctions regulations and other trade compliance topics, you can reach out to Pavel, Jana, Stefanie, Pieter or Sjors of Portorium Solutions https://lnkd.in/eFy_tenW

Sanctions, sanctions, sanctions! You can't go around them these days. We discussed the new sanctions package 14 on the 20th of June with senior trade compliance experts ➡ watch our webinar; the recording is available now. Reach out to share your point of view 🗯

Check out this article, where we dive into the intricacies of Russia sanctions, the importance of global sanctions screening, and how trade compliance software can streamline your compliance with increasing regulatory requirements.

Check out this article, where we dive into the intricacies of Russia sanctions, the importance of global sanctions screening, and how trade compliance software can streamline your compliance with increasing regulatory requirements.