BANKS HAVE TO WORK HARDER TO AVOID SANCTIONS BREACH PUNISHMENTS
June 1st, 2019
BANKS worldwide are having to take increasing care lest they be fined for violating sanctions and not having adequate regulatory compliance regimes in place. With the USA expanding sanctions against Venezuela and Iran, financial institutions need to not only have adequate screening software but anticipate potential new regulations and that regulators will be pouring over past activities. Paul Cochrane reports.
SANCTIONS are getting tougher to manage. On average there are over 200 new and revised sanctions regulations imposed by governments every day. ...
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