(678) 784-7640

Speculation centers on who will be named in report due out from Washington in February—and whether Trump administration will follow through aggressively.

Stop me if you’ve heard this one before…

The US is expected to level new sanctions against key players in Russian government and business. The latest round, expected in February, fulfill requirements of the Countering America’s Adversaries Through Sanctions Act, or Caatsa, signed into law by President Donald Trump in August. The legislation was a direct response to the Kremlin’s alleged activity in the 2016 U.S. presidential election.

Specifically, the U.S. Treasury Department must produce detailed report of “senior foreign political figures and oligarchs in the Russian Federation,” their estimated net worth and known sources of income. And yes, the list will include individuals close to Russian President Vladimir Putin.

Sanctions can be effective diplomatic tools. There likely is a danger of overuse, given how multifaceted international trade, military, and political relationships are structured. But that’s for others to debate. We focus on the businesses seeking to avoid OFAC fines for banking or conducting business with sanctioned individuals and entities.

More than ever, real-time access to the “river of risk data” is critical for compliance in business risk management. Legacy database products, updated manually, that are used for Customer Due Diligence certainly will lag the announcement of the new sanctions. And they will lag again when these sanctions are lifted.

Renew the call for global sanctions data that refreshes daily, keeping pace with the political realities of our time, but more importantly with the businesses impacted by them.

Read more about the expected sanctions at: www.wsj.com

 

Great, we'd love to help you grow your business!

How can we best reach you to share 5 great ways to enhance your screening and customer satisfaction?