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Tag: Sanctions Regime

  • Sanctions risk assessment: What is involved?

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    by

    Simon Seaton
    in

    Is is considered best practice to align a firm-wide sanctions risk assessment with the requirements of the MLR2017. These regulations outline several risk factors that should be taken into account. They include: The risk assessment must align with the scale and scope of your practice, considering any factors that may influence risk, such as: Whatever…

  • Sanctions regime – Why firm-wide risk assessments are a must

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    by

    Simon Seaton
    in

    The firm-wide risk assessment serves the crucial purpose of identifying potential vulnerabilities to breaches of the regime and exploring ways to mitigate these risks. Although the sanctions regime is characterised by strict liability rather than risk-based, implementing this framework aids in the identification of emerging risks and facilitates the adoption of preventative measures. The Office…