The HMT Sanctions List and Customer Identification Course

Understanding how financial sanctions work and meeting your legal duties is essential for business owners and financial professionals. HM Treasury maintains records of all persons and entities subject to sanctions. Consequently, these entities face financial restrictions due to their links with terrorist activity or human rights abuses.

If you run a business, it’s crucial to ensure you do not handle money or assets owned by sanctioned parties or enter into arrangements granting them access to funds. Doing so is a criminal offense.

In this course, you will learn about the HMT Sanctions List and customer identification processes. This will help ensure compliance with legal requirements and protect your business.

You Will Learn:

• How financial sanctions work and the purpose and scope of the UK financial sanctions regime.
• The scope and purpose of the Consolidated List and the UK Investment Ban List.
• The parties responsible for maintaining these lists and how to use target and name matches to avoid engaging in transactions with sanctioned individuals and entities.
• How to verify customers’ identities and the information you should collect during transactions.

Benefits of Taking This Course:

• For Business Owners: Learn how to avoid conducting business with sanctioned parties.
• For Financial Transaction Managers: Understand how to verify a customer’s identity and check for sanctions.
• For Financial Sector Workers: Gain a solid introduction to sanctions.
• For Public Sector Employees: Enhance your understanding of how the Financial Conduct Authority (FCA), the Treasury, and other bodies collaborate to combat crime.

By understanding the HMT Sanctions List and customer identification processes, you can ensure your business complies with financial regulations and avoid severe penalties.

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Explore More Resources:

• HM Treasury: Financial Sanctions
• Financial Conduct Authority (FCA)
• Consolidated List of Financial Sanctions Targets
• UK Investment Ban List

Understanding financial sanctions and meeting your duties under the law is essential for business owners and financial professionals. This course on the HMT Sanctions List and customer identification will provide you with the necessary knowledge and skills to comply with legal requirements and protect your business from criminal offenses