Past Event

Webinar | Reining in on Sanctions Evasion - Managing the Complexity of an Ever-evolving Sanctions Regimen

Thu. July 14, 2022 10:00 am - 11:00 am !Online

Sanctions only work when they can be effectively enforced. Especially global Sanctions regimen are hard to track and with that even harder to enforce.

With the continuously evolving sanctions against Russia many companies and financial institutions find it difficult to ensure that their business activities are compliant. Fines for non-compliance are high and the reputational risk sometimes even higher.

Join us for an update on both EU and US sanction developments and a detailed outline of the most common and effective techniques to prevent and detect sanctions violations. You will also learn about the biggest challenges companies, advisors, financial institutions and policy makers face to develop systems and new ways to collaborate to stay on top of the latest sanction developments.

I. Setting the stage
● Most common ways to avoid sanctions (shell companies, trusts, assets held in offshore jurisdictions, cryptocurrency, and opaque distributions chains)
● Most common techniques to prevent and detect sanctions evasion
- OFAC Red Flags: Obfuscation of Critical Information in Financial and Trade Transactions Involving the Crimea Region of Ukraine (July 30, 2015)
- EU guidance on aggregated ownership and on control exercised by sanctioned persons

II. Sanctions evasion in the U.S.
● Regulators on high alert
● Policymakers demand regulators’ vigilance
● US Enforcement:
- DOJ Task Force KleptoCapture
- First-ever Crimea-sanctions-related criminal indictment (March 3, 2022)
- Related indictment of Russian oligarch (Apr. 6, 2022)
- Treasury Targets Sanctions Evasion Networks and Russian Technology Companies Enabling Putin’s War (March 31, 2022)
- First forfeiture action against an oligarch’s property

III. Sanction evasions in the EU
● EU regulations vs. national enforcements
- Guidance and initiatives from the European Commission to support the implementation and enforcement: Sanctions Map, Sanctions Expert Group and outreach
- Member states’ law enforcements – one vs. multiple players
- Enforcement throughout the EU, recent and upcoming changes: the EU Whistleblower tool
- National measures: Germany’s Sanctions Enforcement Act I
● De-risking, humanitarian and food security

IV. Cooperation of government agencies and international organizations
● The Russian Elites, Proxies, and Oligarchs (REPO) Task Force
● Extensive existing frameworks: The Global Focal Points Network on Asset Recovery, coordinated by INTERPOL; the Stolen Asset Recovery Initiative (StAR); Egmont Group; the Camden Assets Recovery Inter-Agency Network (“CARIN”).
● Cooperation among EU member states: the EU Freeze and Seize Task Force

SPEAKERS:
● Matt Moses, Partner, ORRICK
● Helene Dewing-Kapur, Europe Head of Sanctions, HSBC
● Amber Vitale, Managing Director – Financial Services, FTI CONSULTING
● Vincent Affourtit, Partner, HOUTHOFF
● Alina Nedea, Head of Unit - Sanctions, DG FISMA - EUROPEAN COMMISSION

TIME:
10:00 - 11:00 AM EDT | 16:00h - 17:00h CET

REGISTRATION FEE:
EACCNY Members: Free
EACCNY non-Members: Free

REGISTER HERE