Navigating the rapidly evolving sanctions environment
As geopolitical tensions flare and the sanctions environment continues to shift, global organizations must fully understand the risks of doing business with countries or individuals facing economic sanctions. Should a company discover that it has done business with a war criminal, rogue state, terrorists, or related organizations, the potential fines and reputational damage can be substantial. To succeed in today’s environment, leading organizations are conducting proactive and reactive reviews to ringfence exposure, addressing historical gaps in compliance, and engaging with local and global regulators on matters as they arise.
Our team has global experience addressing clients’ regulatory and operational issues relating to managing sanctions risk. Our team has conducted numerous international investigations into alleged sanctions violations, including trade-based money laundering, procurement of illicit goods and equipment, facilitating financing for blocked entities and individuals, and OFAC sanctions violations.
- Lookback Reviews
Our team of sanctions analysts performs case investigations to identify potential violations and develop the necessary regulatory reporting.
- Independent Controls Testing
We pressure test our clients' sanctions programs to ensure they remain robust, align with industry best practices, and comply with the latest international regulations.
- Remediation Programs
When necessary, our team helps our clients navigate remediation challenges by resolving compliance matters and engaging with regulators.
- Analytics & Data Strategy
We help our clients develop their financial and operational sanctions systems by leveraging a proprietary messaging processing solution and deploying interactive dashboards and case management solutions.
- Monitorship & Independent Oversight
Our team also serves as primary monitors for regulator-mandated monitorships and assists our clients and their legal teams with deep subject matter expertise.
Global Financial Institution
Sanctions Program Remediation
Ankura professionals evaluated key components of the program to improve the effectiveness and efficiency of OFAC and international sanctions requirements. The remediation program covered testing filters, operational processes, and quality assurance components. Ankura upgraded the organization’s policies and procedures as well as training procedures to improve the client’s compliance capabilities.
The Ankura Difference
Ankura’s international trade controls and sanctions team combines the perspectives of former government regulators, prosecutors, industry executives, compliance professionals, lawyers, engineers, and program managers. We understand both what regulators require and how complex global organizations operate. By working closely with senior management and key stakeholders, our professionals help clients assess the full scope of their exposure in a systematic effort to minimize risk. We then design and implement tailored, risk-based sanctions compliance programs. We also conduct internal investigations and support self-reporting and remediation activities with regulators around the world.