Financial Sanctions Compliance Training

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 and criminal charges.

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

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Financial Sanctions Compliance Training Course

About this Course

Available as part of our Compliance Essentials Library.

Learning Objectives

This course will prepare your employees to:

  • Recognise what financial sanctions are and the purpose that they are designed to achieve
  • Identify the steps our Company takes to comply with sanctions
  • Comply with your own obligations under the Company's policy and procedures in relation to sanctions
  • Seek advice and report matches and transactions to avoid sanctions violations

Latest Course Updates

  • A full review conducted by an expert
  • Course updated to include latest sanctions against Russia
  • Text & image updates throughout the course
  • Updated activities & scenarios
  • Updated post-course assessment with 10 new questions

Course outline

Introduction

What are financial sanctions?

- Who imposes sanctions?
- Types of financial sanctions
- Mind the USA!
- Sanctions terminology
- Consequences: In the news…
- You decide: What is the risk?

Sanctions controls

- Company sanctions
- How we apply sanctions
- Your obligations
- You decide: Is it correct or not?
- Customer onboarding
- Payments
- Wire stripping
- Third parties
- You decide: Sanctions compliant?

Screening & matching

- The screening and matching process
- You decide: What type of match is it?
- Best practice: Screening and matching

Implementing financial restrictions: asset freezes

- What this means for you
- You decide: 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

Scenario: Sanctions checks

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

Our reporting & record-keeping obligations

- Record keeping

Summary

Affirmation

Assessment

Course Specifications

Structure

Structure

Approximately 45-minute long e-learning course followed by a 10-question assessment.

Audience

Audience

Suitable for all staff - examples and interactivities designed for staff at all levels. No previous knowledge or experience required.

Design

Design

SHARD-compliant, responsive display on all devices, accessibility on screen readers, visual design controlled via a client style sheet.

Fast track

Fast Track Option

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.

Compatibility

Compatibility

All Windows, Mac OSX, iOS, Android (Flash-free for mobile compatibility). AICC and SCORM 1.2-compliant, suitable for both hosted and deployed SCORM or AICC.

Tailoring

Tailoring

Fully customisable on Skillcast Portal CMS.

Translation

Translation

Pre-translated versions not available, but all text content can be exported for translation into all languages.

Localisation

Localisation

Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary.

Compliance Essentials

Compliance Essentials Library is our best-selling comprehensive corporate training solution.

100+ e-learning and microlearning courses that help companies from SMEs to global corporates achieve compliance success.

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Compliance Essentials