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AML/CFT

State of Sanctions

The sanctions landscape is evolving and becoming more complex than ever before. The questions become, “What are the rules for doing business in Cuba? Why are the sanctions against Russia so complicated? Did the Iranian sanction go away?” and so on.

Furthermore, clarification around how many different types of sanctions there are, whether there are other lists we should be checking, and how to perform an OFAC risk assessment is helpful in navigating the current state of sanctions.

Today, financial institutions are exposed to greater sanctions risks, operational and oversight challenges, and obligations to comply with sanctions administered by OFAC and other agencies. This session will address these issues and what you need to be aware of moving forward.

Credits Awarded: 1.25 CRCM, 1 CAMS

 

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About the Presenter

 

 

 

 

 

 

Timothy White, CAMS

Business Development and Regulatory Specialist

Banker’s Toolbox

Timothy R. White, CAMS is the Business Development and Regulatory Specialist for Banker’s Toolbox. Tim has licensed AML and Sanctions Interdiction Software to over a 1400 financial institutions since he started working in the banking compliance arena in 1994. Tim is an expert on OFAC/Sanctions issues and has addressed OFAC and BSA issues at conferences throughout the United States. Tim has published articles in the ABA Bank Compliance Magazine, ACAMS Today and Western Banking Magazine. Tim was a member of the ACAMS’ Certification Exam Task Force in 2010. Tim was a member of a working group formed by the United Nation’s Al-Qaida Taliban Sanctions monitoring team pursuant UNSCR 1735 in 2007. In June 2006, at the request of the US Department of State, he addressed a EU-US Workshop on Financial Sanctions and Terrorist Financing in Vienna, Austria. Tim provided training for the; Office of the Comptroller Currency and Federal Reserve Bank’s BSA/AML specialists on OFAC and BSA compliance technologies. In 2004 Tim was a member of the ABA’s BSA – OFAC Working Group on OFAC Examination Procedures. In 2003 he addressed BSA and OFAC as a faculty member of NACHA’s Payments Institute. Tim serves as the chairperson of the West Coast AML Forum and is an active certified member of ACAMS first graduating class.