Compliance, Ethics & Sustainability An international journal with a European focus 2025 nr. 1/2
  •  

Developing a sanctions breach protocol

Patrick Özer, Jori van Schijndel and Monica van Santbrink1

Artikel kopen € 79,00 excl. BTW

In plaats van abonneren kunt u dit artikel ook afzonderlijk kopen.

Responding to potential sanctions breaches

A famous quote from Benjamin Franklin reads "by failing to prepare, you are preparing to fail", emphasising the critical role of preparation in achieving success. In today's fast-paced and complex society, there are many aspects that can have a significant impact on an organisation, such as natural disasters, cyber attacks, fraud and – case in point – sanctions breaches. Sanctions breaches represent a risk that can be overcome by proper preparation. Implementing a sanctions breach protocol can greatly enhance the organisation's readiness in this respect.

1. Introduction

Sanctions are measures imposed on individuals, groups, or countries and can range from financial restrictions and travel bans to arms embargoes. Over time, these have shifted from broad, country-wide punishments to more targeted actions aimed a...

U heeft op dit moment geen toegang tot de volledige inhoud van dit product. U kunt alleen de inleiding en hoofdstukindeling lezen.

Wanneer u volledige toegang wenst tot alle informatie kunt u zich abonneren of inloggen als abonnee.

Verder in dit artikel:

Responding to potential sanctions breaches

1. Introduction

2. Triggers of sanctions breaches

2.1. Internal or external developments

2.2. Sanctions compliance programme is failing

3. Developing a sanctions breach protocol

4. Sanctions breach protocol timeline: from moment one to day thirty

4.1. First 60 minutes

4.2. First 48 hours

4.3. First 30 days

5. Post-incident: reflection and lessons learned

6. How to prevent sanctions breaches

6.1. Governance and oversight

6.2. Skills and resources

6.3. Technical solutions and data management

6.4. Contractual protections and third-party due diligence

6.5. Staying sanctions-savvy

7. How AI can help sanctions compliance

8. Conclusion

Naar boven

Voetnoten

Voetnoten voor dit artikel zijn alleen beschikbaar wanneer u toegang heeft tot dit artikel.

Naar boven

Gerelateerde artikelen

Deel deze pagina:

Nog niet beoordeeld

Abonneren

Bijlage(n)

  • Bijlagen zijn alleen beschikbaar voor abonnees.

Artikel informatie

Type
Artikel
Auteurs
Patrick Özer, Jori van Schijndel and Monica van Santbrink1
Auteursvermelding
Ik ben auteur van dit artikel
Datum artikel
25 april 2025
Uniek Den Hollander publicatienummer
UDH:TvCo/18606

Gerelateerde inhoud

Vrij gevonden op trefwoorden:

compliance, sanctions, investigation, breach

Verder in 2025 nr.1/2

 Sanctions

This is the first combined issue one and two of the Compliance, Ethics & Sustainability journal of 2025 with a focus on Sanctions. This edition aims to provide new insights and perspectives on ...

 A critical analysis of discrimination in screening and monitoring transactions

Both monitoring and sanction screening payment transactions by banks are activities that have a legal basis to carry out. The obligation to monitor transactions for unusualness is laid down in Arti...

 A new era of regulating EU sanctions compliance: a fragmented framework

The EU has introduced explicit compliance obligations in its 14th Russia sanctions package, marking a shift from just prohibiting certain economic activities to also mandating how businesses must e...

 The (partial) intersection between sanctions and AML

In 2024, the European Union introduced a comprehensive anti-money laundering (AML) package aimed at harmonising AML legislation across Member States. This package establishes new obligations for ob...

 EU Sanctions Compliance in the Global Context: What Are Best Efforts Obligations?

European Union ("EU") sanctions compliance has gone global. Since the beginning of Russia's full-scale invasion of Ukraine in February 2022, the EU has continuously expanded the substantive and geo...

 Crossing boundaries

EU embrace of extraterritoriality and the challenges ahead The European Union's stance on the extraterritorial reach of its sanctions has evolved recently, particularly in response to the need to p...

 Developing a sanctions breach protocol

Responding to potential sanctions breaches A famous quote from Benjamin Franklin reads "by failing to prepare, you are preparing to fail", emphasising the critical role of preparation in achieving ...

 Economische sancties en de rol van banken

Over wettelijke verplichtingen, uitdagingen en kansen In de afgelopen decennia zijn internationale sancties in toenemende mate ingezet als politiek drukmiddel op supranationaal niveau. Banken spele...

 Interview with Alan Morley

Q: Could you introduce yourself? Who is Alan Morley?   A: I'm currently Director at Huron Consulting Group where I am responsible for our anti-financial crime and compliance practice. I can be cons...

 Uit de boekenkast van de bedrijfsethiek (93)

In de bedrijfsethiek is een groot aantal boeken en artikelen verschenen waarin op praktische wijze prangende vraagstukken worden behandeld en concrete aanbevelingen worden gedaan voor het bevordere...