Sanctions Compliance Framework: Managing Risk Assessment and its Impact - Compliance

This one-day programme will provide participants with an understanding and analysis of the sanctions regime including the failures of financial institutions and global firms around the world in breaching sanction rules.

Leveraging on group-based activities and using case examples/ common regulatory/audit findings, the programme will also provide participants the ability to leverage on industry-wide best practices in adhering/ managing sanctions risk.

Programme Outline

Learning Objectives

By the end of the programme, participants will be able to:

Interpret what sanctions are, categories of sanctions, the objectives of sanctions and the international framework of sanction regime
Analyse the key sanctions requirements under the governing legislations in Malaysia and obligations as reporting institutions under the AMLATFPUAA 2001, institution subject to sanction requirements under Strategic Trade Act 2010 and regulated entities under the Central Bank Act 2009
Assess the main sanctions risks and control factors essential for robust sanction governance framework
Elaborate on the managing sanctions lists and screening management
Evaluate the vulnerability of their institutions to fines and penalties for breaches violation of sanction requirements

Programme Outline

Background of Economic Sanctions and Targeted Financial Sanctions Regime (TFS)
What are sanctions and what are they designed to achieve
Why are sanctions important
TFS on terrorism financing, proliferation financing, multilateral, unilateral and country sanctions
International Context and Primary Sanctions International Framework
United Nations Security Council resolutions
FATF – Recommendations 6 and 7
EU regulations & national governments sanctions
Export-control laws and its relationship with economic sanctions
Malaysia’s Sanction Regime
AMLATFPUAA 2001
Strategic Trade Act 2010
Central Bank of Malaysia Act 2009
BNM Policy Documents & other relevant regulations
Sanctions Governance Framework
Roles and responsibilities
Policies and procedures
Culture of compliance
Customer due diligence
The Costs of Getting It Wrong
Case studies of non-compliance actions taken on financial institutions for violation of sanction rules

METHODOLOGY

Lecture, discussions, class activities and infographics

Participant profile

Operations, business, correspondent banking and compliance staff

Trainer

Aazad Ananthan

Trainer, consultant & compliance practitioner

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Aazad Ananthan

Trainer, consultant & compliance practitioner

Aazad Ananthan Abdullah is a trainer, consultant and compliance practitioner. He comes with 27 years of working experience in various international banks including Labuan offshore banks and premier training institute for financial institutions.

Aazad graduated with a Bachelor of Jurisprudence from Universiti Malaya (Malaya), Bachelor of Business Administration from Universiti Utara Malaysia and Master of Commercial Law, Malaya. He has an Advanced Certification in Anti-Money Laundering jointly awarded by the Asian Institute of Chartered Bankers (AICB) and International Compliance Association in collaboration with University of Manchester Business School, UK, Certified Integrity Officer (CeIO) awarded by Malaysia Anti-Corruption Academy (MACA); and holds a Certificate in Sustainable Finance awarded by United Nations Institute for Training and Research (UNITAR).

Aazad specialises and delivers training in the subjects of financial crime, anti-money laundering, international sanctions, ultimate beneficial ownership, anti-bribery/corruption (ABC) and is a HRDC certified trainer. In 2022, he presented in a forum on “Managing Compliance Risks: e-Know Your Customer” jointly organised by the Regulatory Commission of Mongolia and Financial Education HUB.