Season 4, Episode 10: Sanctions – intended and unintended consequences and how to deal with them
Compliance Clarified – a podcast by Thomson Reuters Regulatory Intelligence
Challenges and complexities of financial institutions in dealing with sanctions
This chapter explores the challenges faced by financial institutions when dealing with sanctions, including the need for thorough reviews of client relationships, assets, transactions, and counter parties. It discusses the complexities arising from disagreements among different jurisdictions and the efforts of the US Treasury to engage the private sector in supporting government actions. The chapter also addresses the limitations of using cryptocurrencies to evade sanctions and the use of blockchain and digital ledger technology in tracking assets and transactions.
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