Sanctions

Sanctions regulations are evolving at an unprecedented pace, with constant updates to watchlists, conflicting requirements, and increasing regulatory scrutiny. Financial institutions must monitor multiple sanction lists while ensuring compliance with sectoral sanctions, such as those targeting Russia, which further complicate transaction approvals.

Failure to comply can lead to significant fines, operational disruption, and reputational damage. At a minimum, banks and financial institutions must have robust sanctions screening processes and controls in place. However, it is equally important to demonstrate that these controls are effective and tailored to the specific requirements of sanctions compliance and not just anti-money laundering measures. This means evaluating to whom payments are being made, those receiving the funds, and ensuring funds originate from entirely legitimate sources.

As global watchlists expand and enforcement pressures grow, financial institutions must extend their screening frameworks across their entire networks to mitigate risks and maintain compliance. Staying ahead requires a proactive, risk-based approach to sanctions compliance.

Thanks to their extraterritorial reach and the dominance of the dollar as an international currency, US prosecutors and regulators can make things very hot for banks that participate in sanctions dodging.

Jonathan Guthrie

Financial Times

OpusDatum can help you effectively and efficiently manage your sanctions obligations with a proportionate, risk-based approach. Our expert-led services ensure compliance with UK OFSI, US OFAC, and other regulatory requirements, helping you mitigate risks and maintain operational resilience.

Our services include:

Sanctions Programme Development: Design and implementation of comprehensive frameworks, policies, and standards to meet both national and global regulatory requirements.

Sanctions Risk Assessments: Identifying risks and vulnerabilities, and ensuring regulatory alignment.

Independent Reviews: Assessing procedures, systems, and controls against current sanctions policies.

Policy & Control Enhancements: Strengthening sanctions frameworks to meet evolving requirements.

Benchmarking: Evaluating sanctions controls against industry best practices.

Alert Investigation & Reporting: Supporting UK OFSI and US OFAC reporting and response processes.

Sanctions Screening & Validation: Ensuring the accuracy and effectiveness of screening systems.

Circumvention Detection: Identifying attempts to evade sanctions restrictions.

Watchlist & Rule Optimisation: Fine-tuning lists, rules, and configurations for improved accuracy.

Remediation Programmes: Addressing actual and suspected sanctions violations.

Look-Back Reviews: Identifying root causes of past breaches and near misses.

Data Analytics & Investigations: Leveraging forensic analysis and advanced analytics.

Training & Awareness: Building sanctions expertise across your organisation.

With proven methodologies and cutting-edge tools, we help financial institutions stay ahead of evolving sanctions risks.

How we can help

Are your sanctions controls strong enough?

With evolving regulations and increasing enforcement, compliance is more challenging than ever. Is your organisation prepared?Let’s strengthen your sanctions framework. Contact us today to get expert support.