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Compliance Essentials Library

Financial Sanctions Course

Financial and economic sanctions are binding prohibitions applied by governments to prevent business transactions with certain designated persons - they may be rogue organisations, countries, regimes or specific individuals.

Violations of sanctions issued by the UN, the US and the EU placing restrictions on payments and other financial transactions can result in fines as well as criminal charges.

Our Financial Sanctions Course will help your employees to understand what financial sanctions are, how they impact on business operations and how to ensure compliance.

Audience: All staff  |  Duration: 30 minutes  |  Format: E-learning module

Learning Objectives

This course will prepare your employees to:

  • Define financial sanctions and the purpose that they are designed to achieve
  • Explain the steps that your Company takes to comply with sanctions
  • Comply with their obligations under you company's policy and procedures in relation to sanctions
  • Recognise how to seek advice and report transactions that might breach sanctions

Course Contents

  • Welcome
  • What are financial sanctions?
    - Who imposes sanctions?
    - Types of financial sanctions
    - Mind the USA!
    - Sanctions terminology
    - Consequences: In the news…
    - You make the call: What is the risk?
  • Sanctions controls
    - Company sanctions
    - How we apply sanctions
    - Your obligations
    - You make the call: Is it correct or not?
  • Sanctions impact across our customer lifecycle
    - Customer on-boarding
    - Payments
    - Wire stripping
    - Third parties
    - You make the call: Is it True or False?
  • Screening and matching
  • The screening and matching process
    - You make the call: What type of match is it?
    - Best practice: Screening and matching
  • Implementing financial restrictions: Asset freezes
    - What this means for you
    - You make the call: Is it allowed or not?
    - Scenario: Angela's client
    - Scenario: Receiving payments from designated persons
    - Scenario: Insurance and designated persons
  • Entities: Ownership and control
    - Scenario: Sanctions and ownership
    - Scenario: Insuring entities
    - Scenario: Sanctions and partnerships
    - Scenario: Sapphire
  • Sanctions checks
    - The workaround
    - Scenario: Roya and Kazem's story
  • Our reporting and record-keeping obligations
    - Record keeping
  • Summary
  • Affirmation
  • Assessment

Free Trial: Compliance Essentials

This course is part of our Compliance Essentials Course Library.

Compliance Essentials is our best-selling library and there's a reason for that.

Essentials contains 30 in-depth courses and dozens of express micro-learning modules from AML, Bribery, GDPR and Equality to Health and Safety. It provides a complete and comprehensive off-the-shelf compliance solution for UK businesses that can be customised completely to fit your organisation.

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Duration Approximately 30 minutes
Audience Suitable for all staff - examples and interactivities designed for staff at all levels
Prerequisites No previous knowledge or experience required
Design SHARD-compliant, responsive display on all devices, accessibility on screen readers, visual design controlled via client style sheet
Assessment Ten-question assessment
Test-out Ability to offer optional test-out, whereby users can choose to skip the course content and complete the learning assignment simply by passing the assessment Deployment AICC and SCORM 1.2-compliant, suitable for both hosted and deployed SCORM or AICC
Deployment AICC and SCORM 1.2-compliant, suitable for both hosted and deployed SCORM or AICC
Compatibility All Windows, Mac OSX, iOS, Android (Flash-free for mobile compatibility)
Tailoring Fully customisable on Skillcast Portal CMS
Translation Pre-translated versions not available, but all text content can be exported for translation into all languages
Localisation Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary

Off-the-shelf Courses

Our off-the-shelf subscription options allow you to train your staff using this course and other essential compliance courses cost-effectively.

We can also customise courses to your business needs or create fully bespoke courses to your specification.

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