This course is a complete, basic to advanced, walkthrough for Sanctions Compliance, going from sanction types, regulatory bodies and authorities, different regulations and jurisdictions, but also a more in depth view of certain KYC and AML requirements, Suspicious Activity Reporting (SAR or STR), sanctions procedures, screening, ownership, sanctions exceptions and exemptions, case studies of failure and success stories, as well as some advanced topics such as blockchain and DLT, AI and Machine Learning, cryptocurrency and digital assets, evasions and whistleblower protections, and much, much more.
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This course is a complete, basic to advanced, walkthrough for Sanctions Compliance, going from sanction types, regulatory bodies and authorities, different regulations and jurisdictions, but also a more in depth view of certain KYC and AML requirements, Suspicious Activity Reporting (SAR or STR), sanctions procedures, screening, ownership, sanctions exceptions and exemptions, case studies of failure and success stories, as well as some advanced topics such as blockchain and DLT, AI and Machine Learning, cryptocurrency and digital assets, evasions and whistleblower protections, and much, much more.
This course is a complete, basic to advanced, walkthrough for Sanctions Compliance, going from sanction types, regulatory bodies and authorities, different regulations and jurisdictions, but also a more in depth view of certain KYC and AML requirements, Suspicious Activity Reporting (SAR or STR), sanctions procedures, screening, ownership, sanctions exceptions and exemptions, case studies of failure and success stories, as well as some advanced topics such as blockchain and DLT, AI and Machine Learning, cryptocurrency and digital assets, evasions and whistleblower protections, and much, much more.
Once you have completed the entire course you will receive via Udemy message all the presentations and articles used in the course in .pdf format (Complete Sanctions Manual).
Besides Udemy's certificate, we additionally offer a Personalized Certificate of Completion issued by The Elite Compliance Group, upon request. To obtain yours, simply send us a private message through Udemy, including the name you'd like to see on the certificate.
Please consider that due to high demand the certificates are processed and issued at the end of each month. For instance, if you request a certificate in January, it will be provided in February.
Below you can find the full course index.
The course also contains small questionnaires for you to check your acquired knowledge for some of the sections.
Full Course Index:
Section 1: Introduction to Sanctions Compliance
1.1 Overview of Sanctions Compliance
1.1.1 Definition and Purpose
1.1.2 Importance in Financial Markets
1.1.3 Historical Context
1.2 Types of Sanctions
1.2.1 Economic and Financial Sanctions
Asset freezing and the release of funds
1.2.2 Trade Sanctions
Export-controlled goods are susceptible to trade sanctions
1.2.3 Targeted Sanctions
Comprehensive sanctions vs. targeted sanctions
1.2.4 Sanctions by industry type
Sanctions Exceptions
1.3 Regulatory Bodies and Authorities
1.3.1 Key Regulatory Agencies
1.3.2 Important organizations
1.3.3 Role of Government Authorities
1.3.4 International Sanctions Frameworks
Section 2: Sanctions Compliance Regulations
2.1 Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF)
2.1.1 AML/CTF Basics
2.1.2 Customer Due Diligence (CDD)
2.1.3 Suspicious Activity Reporting (SAR or STR)
2.2 European Union (EU) Sanctions
2.3 United Nations (UN) Sanctions
2.3.1 Example of UN Sanctions
2.4 United States (US) Sanctions
2.4.1 Sanctions regime in the US
2.4.2 US Regulatory Agencies
2.5 United Kingdom (UK) Sanctions
2.6 Unilateral Sanctions
Section 3: Sanctions Compliance Procedures
3.1 Developing a Sanctions Compliance Program
3.1.1 Building a Compliance Team
A solid SCP framework
Management commitment and a compliance culture
3.1.2 Risk Assessment and Mitigation
Internal controls
Auditing and testing
3.1.3 Training and staying up to date
Keeping up with sanctions
Sanctions easing and lifting
3.2 Due Diligence and Screening
3.2.1 KYC
KYC Requirements
KYC due diligence
Enhanced sanctions due diligence
3.2.2 Ownership
Control, ownership, and transparency
The OFAC 50% rule
Ownership and control in the EU and UK
Beneficial ownership concealment
3.2.3 Screening
What exactly is sanctions screening, and how does it work?
Different types of sanctions screening
3.2.4 Customer and Transaction Screening
3.2.5 Adverse Media Screening
3.2.6 Third-Party Risk Management
3.3 Transaction Monitoring and Reporting
3.3.1 Real-time Transaction Monitoring
3.3.2 Suspicious Activity Reporting (SAR)
3.3.3 Compliance Software and Tools
3.4 Sanctions Exceptions Handling
3.4.1 Sanctions exemptions and licenses
3.4.2 Licensing sanctions grounds
3.4.3 Humanitarian licenses used effectively
3.5 Sanctions Violations and Breaches
3.5.1 Inadvertent sanctions violations
3.5.2 Consequences of failing to comply with sanctions
Confronting a Sanction Violation
Self-reporting a suspected sanction breach
Management of incidents as part of a SCP
Section 4: Case Studies and Real-World Examples
4.1 Notable Sanctions Compliance Failures
4.1.1 Compliance Scandals in Financial Markets
Consequences of Standard Chartered's 2012 Sanctions Violation
Lessons Learned from Standard Chartered's 2012 Sanctions Violation
4.2 Success Stories
Section 5: International Considerations in Sanctions Compliance
5.1 Understanding Jurisdictional Issues
5.2 Sector Specific Sanctions
5.2.1 Risks of sector-specific sanctions
Risk of correspondent banking sanctions
Sanctions risk for digital currencies
Corporate supply chain sanctions
Sanctions for maritime, logistics, and freight forwarders
Goods and technologies of US origin
Sanctions in the IT sector
Sanctions on high-value and luxury goods
Effective humanitarian license application
Humanitarian aid distribution in authorized jurisdictions
Section 6: Advanced Topics in Sanctions Compliance
6.1 Sanctions and Emerging Technologies
6.1.1 Blockchain and Distributed Ledger Technology (DLT)
6.1.2 Artificial Intelligence (AI) and Machine Learning
6.1.3 Cryptocurrency and Digital Assets
6.1.4 3D Printing and Advanced Manufacturing
6.2 Sanctions Evasion and Enforcement
6.2.1 Methods of Sanction Evasion
6.2.1.1 Smuggling and Illicit Trade
6.2.1.2 Front Companies and Shell Entities
6.2.1.3 Cryptocurrency and Peer-to-Peer Transactions
6.2.2 Regulatory Enforcement and Penalties
The Huawei Case (2020)
The Zhenli Ye Gon Case (2019)
Section 7: Whistleblower Protections
7.1 The Importance of Whistleblower Protections
7.1.1 Encouraging Disclosure
7.1.2 Strengthening Compliance
7.2 Whistleblower Protection Mechanisms
7.2.1 Anonymity and Confidentiality
7.2.2 Legal Safeguards
7.2.3 Monetary Rewards
7.3 Real-Life Examples
The Sarbanes-Oxley Act (SOX)
The Dodd-Frank Wall Street Reform and Consumer Protection Act
The EU Whistleblower Directive
Crucial Role of Whistleblower Protections
Section 8: Conclusion and Course Recap
What's inside
Learning objectives
- Obtain a certificate of completion issued by the elite compliance group
- Introduction to aml sanctions compliance (importance, types of sanctions, regulatory bodies and authorities)
- Sanctions compliance regulations (aml/ctf, kyc/cdd, sar/str, eu, un, us, uk sanctions)
- Sanctions compliance procedures (compliance program, kyc, customer and transactions screening, monitoring and reporting, sanctions exceptions)
- Case studies and real-world examples (failure and success stories)
- International considerations in sanctions compliance (jurisdictions, sector specific sanctions)
- Advanced topics in sanctions compliance (blockchain and dlt, ai and machine learning, cryptocurrency, evasion and case studies)
- Whistleblower protections (importance, legal safeguards, real life examples)
- Obtain a certificate of completion issued by the elite compliance group
- Introduction to aml sanctions compliance (importance, types of sanctions, regulatory bodies and authorities)
- Sanctions compliance regulations (aml/ctf, kyc/cdd, sar/str, eu, un, us, uk sanctions)
- Sanctions compliance procedures (compliance program, kyc, customer and transactions screening, monitoring and reporting, sanctions exceptions)
- Case studies and real-world examples (failure and success stories)
- International considerations in sanctions compliance (jurisdictions, sector specific sanctions)
- Advanced topics in sanctions compliance (blockchain and dlt, ai and machine learning, cryptocurrency, evasion and case studies)
- Whistleblower protections (importance, legal safeguards, real life examples)
Syllabus
Introduction to Sanctions Compliance
Important: Starting Instructions
Disclaimer
Overview of Sanctions Compliance
Definition and Purpose
Importance in Financial Markets
Historical Contex
Read more
Syllabus
Overview of Sanctions Compliance
Definition and Purpose
Importance in Financial Markets
Historical Contex
Types of Sanctions
Economic and Financial Sanctions
Asset freezing and the release of funds
Trade Sanctions
Export-controlled goods are susceptible to trade sanctions
Targeted Sanctions
Comprehensive sanctions vs. targeted sanctions
Sanctions by industry type
Sanctions Exceptions
Regulatory Bodies and Authorities
Key Regulatory Agencies
Important organizations
Role of Government Authorities
International Sanctions Frameworks
Sanctions Compliance Regulations
Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF)
AML/CTF Basics
Customer Due Diligence (CDD)
Suspicious Activity Reporting (SAR or STR)
United Nations (UN) Sanctions
Example of UN Sanctions
United States (US) Sanctions
Sanctions regime in the US
US Regulatory Agencies
Developing a Sanctions Compliance Program
Building a Compliance Team
A solid SCP framework
Management commitment and a compliance culture
Risk Assessment and Mitigation
Internal controls
Auditing and testing
Training and staying up to date
Keeping up with sanctions
Sanctions easing and lifting
KYC Overview
KYC Requirements
KYC due diligence
Enhanced sanctions due diligence
Ownership
Control, ownership, and transparency
The OFAC 50% rule
Ownership and control in the EU and UK
Beneficial ownership concealment
Screening
What exactly is sanctions screening, and how does it work?
Different types of sanctions screening
Customer and Transaction Screening
Adverse Media Screening
Third-Party Risk Management
Transaction Monitoring and Reporting
Real-time Transaction Monitoring
Suspicious Activity Reporting (SAR)
Compliance Software and Tools
Sanctions Exceptions Handling
Sanctions exemptions and licenses
Licensing sanctions grounds
Humanitarian licenses used effectively
Consequences of failing to comply with sanctions
Confronting a Sanction Violation
Self-reporting a suspected sanction breach
Management of incidents as part of a SCP
Case Studies and Real-World Examples
Notable Sanctions Compliance Failures
Compliance Scandals in Financial Markets
Consequences of Standard Chartered's 2012 Sanctions Violation
Lessons Learned from Standard Chartered's 2012 Sanctions Violation
Sector Specific Sanctions
Risks of sector-specific sanctions
Risk of correspondent banking sanctions
Sanctions risk for digital currencies
Corporate supply chain sanctions
Sanctions for maritime, logistics, and freight forwarders
Goods and technologies of US origin
Sanctions in the IT sector
Sanctions on high-value and luxury goods
Effective humanitarian license application
Humanitarian aid distribution in authorized jurisdictions
Sanctions and Emerging Technologies
Blockchain and Distributed Ledger Technology (DLT)
Artificial Intelligence (AI) and Machine Learning
Cryptocurrency and Digital Assets
3D Printing and Advanced Manufacturing
Sanctions Evasion and Enforcement
Methods of Sanction Evasion
Smuggling and Illicit Trade
Front Companies and Shell Entities
Cryptocurrency and Peer-to-Peer Transactions
Regulatory Enforcement and Penalties
The Huawei Case (2020)
Whistleblower Protections
The Importance of Whistleblower Protections
Encouraging Disclosure
Strengthening Compliance
Whistleblower Protection Mechanisms
Anonymity and Confidentiality
Legal Safeguards
Monetary Rewards
Real-Life Examples
The Sarbanes-Oxley Act (SOX)
The Dodd-Frank Wall Street Reform and Consumer Protection Act
Real-Life Examples
The EU Whistleblower Directive
Crucial Role of Whistleblower Protections
Invitation to enroll in The Ultimate and Complete KYC Manual - End-to-End Process Fully Explained course to enhance your knowledge on this specific topic.
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Reviews summary
Comprehensive aml sanctions compliance overview
Provided manual is a great reference resource.
Real-world examples make concepts relatable and useful.
Content is logical, easy to follow and understand.
Covers a wide range of topics from basic to advanced.
Activities
Review AML/CTF Basics
Show steps
Reinforce your understanding of fundamental AML and CTF concepts before diving into sanctions compliance.
Browse courses on
Anti-Money Laundering
Show steps
-
Review the definitions of money laundering and terrorism financing.
-
Study the key stages of money laundering.
-
Understand the purpose of AML/CTF regulations.
Review 'The Law of Economic Sanctions'
Show steps
Deepen your understanding of the legal and practical aspects of economic sanctions.
View
Putting Knowledge to Work
on Amazon
Show steps
-
Acquire a copy of 'The Law of Economic Sanctions'.
-
Focus on chapters related to US and EU sanctions regimes.
-
Analyze case studies and legal precedents discussed in the book.
Review 'Sanctions Law'
Show steps
Gain a deeper understanding of the legal framework surrounding sanctions.
View
Putting Knowledge to Work
on Amazon
Show steps
-
Obtain a copy of 'Sanctions Law'.
-
Read the chapters relevant to the jurisdictions covered in the course.
-
Take notes on key legal concepts and definitions.
Four other activities
Expand to see all activities and additional details
Show all seven activities
Sanctions List Screening Practice
Show steps
Improve your screening skills by practicing with sample sanctions lists and transaction data.
Show steps
-
Obtain sample sanctions lists from regulatory websites.
-
Gather sample transaction data with customer names and addresses.
-
Practice screening the transaction data against the sanctions lists.
-
Identify potential matches and flag suspicious transactions.
Write a blog post on sanctions evasion techniques
Show steps
Solidify your understanding of sanctions evasion by researching and writing about common techniques.
Show steps
-
Research common sanctions evasion methods.
-
Outline the blog post with clear headings and subheadings.
-
Write a concise and informative blog post.
-
Cite your sources properly.
Develop a Sanctions Compliance Program
Show steps
Apply your knowledge by creating a hypothetical sanctions compliance program for a financial institution.
Show steps
-
Define the scope and objectives of the program.
-
Conduct a risk assessment to identify potential vulnerabilities.
-
Develop policies and procedures for screening, monitoring, and reporting.
-
Outline a training program for employees.
Create a Sanctions Risk Assessment Template
Show steps
Develop a practical tool for assessing sanctions risks within an organization.
Show steps
-
Research best practices for sanctions risk assessments.
-
Identify key risk factors and indicators.
-
Design a template with clear sections and scoring criteria.
-
Include guidance on how to use the template effectively.
Review AML/CTF Basics
Show steps
Reinforce your understanding of fundamental AML and CTF concepts before diving into sanctions compliance.
Browse courses on
Anti-Money Laundering
Show steps
- Review the definitions of money laundering and terrorism financing.
- Study the key stages of money laundering.
- Understand the purpose of AML/CTF regulations.
Review 'The Law of Economic Sanctions'
Show steps
Deepen your understanding of the legal and practical aspects of economic sanctions.
View
Putting Knowledge to Work
on Amazon
Show steps
- Acquire a copy of 'The Law of Economic Sanctions'.
- Focus on chapters related to US and EU sanctions regimes.
- Analyze case studies and legal precedents discussed in the book.
Review 'Sanctions Law'
Show steps
Gain a deeper understanding of the legal framework surrounding sanctions.
View
Putting Knowledge to Work
on Amazon
Show steps
- Obtain a copy of 'Sanctions Law'.
- Read the chapters relevant to the jurisdictions covered in the course.
- Take notes on key legal concepts and definitions.
Sanctions List Screening Practice
Show steps
Improve your screening skills by practicing with sample sanctions lists and transaction data.
Show steps
- Obtain sample sanctions lists from regulatory websites.
- Gather sample transaction data with customer names and addresses.
- Practice screening the transaction data against the sanctions lists.
- Identify potential matches and flag suspicious transactions.
Write a blog post on sanctions evasion techniques
Show steps
Solidify your understanding of sanctions evasion by researching and writing about common techniques.
Show steps
- Research common sanctions evasion methods.
- Outline the blog post with clear headings and subheadings.
- Write a concise and informative blog post.
- Cite your sources properly.
Develop a Sanctions Compliance Program
Show steps
Apply your knowledge by creating a hypothetical sanctions compliance program for a financial institution.
Show steps
- Define the scope and objectives of the program.
- Conduct a risk assessment to identify potential vulnerabilities.
- Develop policies and procedures for screening, monitoring, and reporting.
- Outline a training program for employees.
Create a Sanctions Risk Assessment Template
Show steps
Develop a practical tool for assessing sanctions risks within an organization.
Show steps
- Research best practices for sanctions risk assessments.
- Identify key risk factors and indicators.
- Design a template with clear sections and scoring criteria.
- Include guidance on how to use the template effectively.
Career center
Sanctions Analyst
Compliance Officer
Anti-Money Laundering Analyst
KYC Analyst
Risk Analyst
Financial Investigator
Regulatory Affairs Specialist
Audit Specialist
Financial Crimes Investigator
Corporate Security Specialist
Intelligence Analyst
Legal Assistant
Operations Analyst
Project Manager
Business Analyst
Reading list
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