Financial Sanctions Training 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, their impact on business operations and how to ensure compliance.

About this Course

Available as part of our Compliance Essentials Library.

Learning Objectives

This course will prepare your employees to:

Understand what financial sanctions are and their purpose
Explain the steps that each company takes to comply with sanctions
Comply with their obligations under their company's sanctions policies and procedures
Know when to seek advice and how to report transactions that might breach sanctions

Course outline

Introduction

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 the Customer Lifecycle

- Customer on-boarding
- Payments
- Wire stripping
- Third parties
- You make the call: Is it True or False?

Screening & 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 & Control

- Scenario: Sanctions and ownership
- Scenario: Insuring entities
- Scenario: Sanctions and partnerships
- Scenario: Sapphire

Sanctions Checks

- The workaround
- Scenario: Roya and Kazem's story

Reporting & Record-keeping Obligations

- Record keeping

Summary

Affirmation

Assessment

Course Specifications

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 a client style sheet.

Assessment

10-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.