Sanctions Compliance Bootcamp – Including AML/KYC Lectures

Explore the sanctions landscape, from definitions and types to history, extraterritoriality and blocking statutes, and apply practical activities for risk management and compliance.

Explore what sanctions are: travel bans, asset freezes, and arms embargoes, and how they deter or punish states and individuals for political, military, or social reasons under UN and EU.

Explore the sanctions types—economic, diplomatic, military, sports, and environment. Focus on economic sanctions—trade and financial measures, including vasana arrangement—and examine geographic scope and arms embargoes shaping due diligence and compliance.

Trace the evolution of sanctions from ancient blockades to modern multilateral tools, noting shifts from unilateral to coalition approaches, and recognize post-1990s targeting of leaders to reduce humanitarian impacts.

Learn how sanctions function in practice, differentiating comprehensive, targeted (smart), and sectoral sanctions, with humanitarian exemptions and real-world examples like Iraq and Russia.

Identify who can be subject of sanctions and apply a risk-based approach to compliance for individuals, companies, and organizations under US and EU law, including penalties, fines, and imprisonment.

Explore the extraterritoriality of sanctions, including how the US enforces primary and secondary restrictions abroad, and the EU’s global stance and re-export prohibitions.

Explore the EU blocking regulation, a 1996 response to U.S. extraterritorial sanctions on Iran and Cuba, updated in 2018 with an article five exception mechanism.

Analyze the sanctions impact on economies and citizens, including unintended consequences, oil embargo dynamics, and how unilateral measures shape risk management, compliance, and political stability.

Learn the core types of sanctions, including economic, diplomatic, military, sports, and environment, and how comprehensive, targeted, and sectoral measures function, plus extraterritoriality and blocking statutes.

Explore the basics of sanctions regulation, key players like the United Nations and FATF, and how European Union sanctions are implemented through the Common Foreign and Security Policy.

Governments and intergovernmental organizations impose sanctions, including United Nations and European Union multilateral measures and United States unilateral actions, with enforcement handled by domestic regulators and financial institutions.

The FATF is a standard setter for sanctions compliance, promoting targeted financial sanctions under UN resolutions and guiding anti money laundering and counter-terrorist financing through its blacklist and grey list.

United Nations sanctions imposed by the Security Council under chapter seven aim to maintain peace and security, with veto power and targeted sanctions enforcement under articles 25 and 48.

Learn the foundations of U.S. sanctions, including IEEPA, executive orders, OFAC and BIS roles, SDN and denied persons lists, EAR export controls, and 311 money laundering concerns.

Explore the European Union's restrictive measures framework, from EEAS preparation and Council approval to CFP adoption and official journal publication, including diplomatic, trade, and financial sanctions.

Sanctions are imposed by governments and bodies, including the United Nations, the United States, and the European Union, with targeted financial sanctions enforced through United Nations resolutions and executive orders.

Explore consequences of sanctions noncompliance for banks and individuals, review penalties and reputational risks, study key cases like Bobby Fischer, and test your knowledge with practical activities.

Understand the consequences of sanctions non-compliance, including civil penalties, criminal punishments, and potential prison, with OFAC enforcement guidelines and penalties tied to transaction value, consideration of voluntary self-disclosure and cooperation.

Analyze sanctions violations by examining record penalties against banks, including BNP Paribas’s 2015 settlement for transactions with Sudan, Iran, and Cuba, and prior cases against HSBC and Credit Suisse.

Explore the consequences of individual non-compliance with sanctions laws, including fines and prison terms, illustrated by Bobby Fischer's case and U.N. sanctions.

Highlight the severe consequences of sanctions noncompliance, including civil penalties and prison, and describe major US bank enforcement actions (BNP Paribas, HSBC, Credit Suisse) and the Bobby Fischer case.

Learn the essential elements of an effective sanctions compliance program, including management commitment, risk assessment, internal controls, policies and procedures, testing, auditing, and tailored communication and training.

Senior management commits to sanctions compliance by securing adequate resources, establishing direct reporting lines, and maintaining ongoing board-level oversight to embed a culture of compliance across the organization.

Evaluate sanctions risk by examining customers, supply chain intermediaries, counter parties, and their locations, including potential mergers and acquisitions, with a holistic, ongoing risk assessment.

Establish policies and procedures for sanctions compliance and implement internal controls to prevent, detect, escalate, and report violations; test and audit effectiveness, document findings, and remediate weaknesses with clear responsibilities.

Learn to test and audit sanctions compliance programs with independence, senior management oversight, and objective assessments. Implement compensating controls and root cause analysis when gaps arise.

Design and deliver annual sanctions training tailored to high-risk staff and stakeholders, with global scope, ongoing risk updates, and accessible materials in local languages.

Explore the five elements of an effective sanctions compliance program—commitment from senior management, risk assessment across customers and geographies, internal controls, independent testing and auditing, and comprehensive training and communication.

Learn how KYC drives sanctions compliance, master sanctions screening, including name versus payment screening, and apply a programmatic approach with list screening to identify high-risk individuals and transactions.

Learn how know your customer (KYC) supports sanctions compliance by verifying identities. Assess beneficial owners, understand the business purpose, and conduct due diligence on goods, services, and supply chains.

Discover how sanctions screening checks information against sanctions lists, flags alerts with threshold matches, and escalates true or potential hits for due diligence and compliance.

Learn differences between name screening and payment screening in sanctions compliance, including onboarding checks, real-time processing, ex-post screening limitations, and the importance of human judgment and data cleaning and remediation.

Discover how programmatic sanctions screening enables scalable compliance by applying risk-based scoring to all notable sanctions lists, using fuzzy matching and auditable, timestamped decision records.

Learn how list screening supports sanctions screening with programmatic software, selecting UN, EU, US, and UK lists, while managing equality's and inequality's lists to reduce false positives.

Identify and verify customers and beneficial owners, assess the business relationship, and perform ongoing due diligence with sanctions, name, and payment screening across UN, EU, US, and UK lists.

Celebrate completing the sanctions compliance bootcamp and contributing to the fight against financial crime through online education, equipping you to protect organizations and advance as a professional or student.

Provide your feedback via the course evaluation form to help improve this sanctions compliance bootcamp, including AML/KYC lectures, for a high-quality online training experience for a global audience.

Download supplemental resources, including pdfs, for quick access to sanctions compliance materials, and contact technical support to resolve access issues.

Define money laundering as concealing illegally obtained proceeds and disguising their origin as legitimate. Identify predicate offenses like narcotrafficking, tax evasion, fraud, and corruption, with FATF as a standard setter.

Trace money laundering origins from ancient China merchants to prohibition-era schemes, and learn how the term emerged in 1973 with Watergate and the cycle of transactions that hides illicit funds.

Explore the three stages of money laundering—placement, layering, and integration—with real-world techniques like cash deposits, smurfing, offshore accounts, and shell companies to hide illicit funds and reintroduce them as legitimate.

Establish and verify customer identities, identify beneficial owners, assess money laundering risk, and implement ongoing, risk-based due diligence including simplified, regular, and enhanced KYC.

Identify politically exposed persons and their close associates, apply enhanced due diligence with senior management approval, determine sources of wealth and funds, and conduct enhanced ongoing monitoring.

Implement aml screenings and real-time transaction monitoring to support onboarding and ongoing due diligence, trigger alerts for suspicious activity, and drive event-driven reviews with updated risk scoring.