HGC CONSULTING PLUS

Since the USA PATRIOT Act was passed in the wake of 9/11, there’s been a major shift in how global governments fight terrorism. Due to a greater understanding of money-laundering activities, a broader definition of “financial institution,” and closer scrutiny on transactions, many organizations are at risk for violating sanctions law. And as terrorist activities ramp up across the world, the likelihood of (inadvertently) making a misstep becomes greater and greater.

In this book, compliance expert Doris Hektor lays out a blueprint for mitigating that risk. She’ll help you to determine whether your organization is subject to U.S. Office of Foreign Assets Control (OFAC) sanctions law and—if so—to build a robust compliance program that satisfies regulatory expectations. Readers will learn how to:

• Assess your own sanctions risk exposure and that of clients, customers, third parties, and others such as acquisition targets
• Develop and implement a sanctions governance and internal control framework
• Put in place critical controls and procedures such as customer due diligence (CDD), sanctions screening, and so forth
• Provide the right training to appropriate employees, clients, suppliers/third parties, business partners to support compliance efforts
• Detect possible criminal activities at an early stage and determine when and how to report to the relevant regulators and other stakeholders 
• Mitigate risk in the event of a potential OFAC violation

If you assume the subject of this book doesn’t apply to you, Hektor will make you think twice. Her book provides a great foundational overview for anyone who operates in the realm of sanctions: practitioners, company directors, boards, C-suite executives—anyone and everyone who needs a good working knowledge of the subject. Written in an engaging, easy-to-grasp style and sprinkled with real-world examples, Building and Maintaining a Global OFAC Sanctions Program will help you safeguard your business as you simultaneously do your part in the global fight against terrorism.