Security Investigate

Challenges and Solutions for Global Economic Sanctions Compliance

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Executive Summary

Off late greater international pressure is being placed on financial institutions to block terrorist financing. As a result, sanctions compliance programs are being scrutinized by regulators like never before. Clearly, many financial institutions are grappling with the complexities of overlapping sanctions regimes, as well as the realization that sanctions compliance is not a "Check-the-box" exercise. These complexities create numerous possibilities for error. Compliance programs must be comprehensive, sustainable and, above all, secure against the individuals and organizations that would seek to engage in money laundering, drug trafficking, terrorist financing or transactions that violate applicable sanctions. Ensuring full compliance in a cost-effective manner has evolved into a business imperative.

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