HM Treasury maintains comprehensive records of all persons and entities currently subject to financial sanctions, usually on the basis of their links with terrorist activity or human rights abuse.
If you run a business, you need to make sure you do not handle money or assets owned by sanctioned parties, or enter into an arrangement that grants them access to funds. To do so is a criminal offence. This course explains how financial sanctions work and how to meet your duties under the law.
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 transactions with individuals and entities named on them
- How to verify customers’ identity, and the information you should collect when undertaking transactions
This course is part of our Accounting & Finance courses and complements our Compliance courses.
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