Sanctions Compliance
What is Sanctions Compliance?
Programs and controls ensuring adherence to government-imposed trade and financial restrictions against specific countries, entities, and individuals.
Terms that appear alongside sanctions compliance
Each of these is named in at least one of the same controls as sanctions compliance. The number is how many controls name both.
- compliance 10 shared controls
- audit 3 shared controls
- breach notification 2 shared controls
- internal audit 2 shared controls
- compliance officer 2 shared controls
- governance 2 shared controls
- compliance program 2 shared controls
Frameworks that govern sanctions compliance
What the standards actually require on sanctions compliance
Requirements naming sanctions compliance across 5 standards, quoted from the control text.
Management commitment I: senior management, meaning senior leadership, executives or the board as the organisation defines it, has reviewed and approved the SCP.
us-ofac-sanctions-compliance-framework::MC.I · Have senior management review and approve the sanctions compliance program →Sets the HKMA's supervisory approach to AIs' AML/CFT systems: the legal and regulatory framework (the Anti-Money Laundering and Counter-Terrorist Financing Ordinance and the Banking Ordinance, other legislation, statutory and regulatory guidance), the HKMA's A...
hkma-spm::AML-1 · AML-1 Supervisory Approach on Anti-Money Laundering and Counter-Financing of Terrorism →NSS-17 + NSS-42-G require supply chain + third party + OEM security across CBS lifecycle. Vendor due diligence: cyber maturity assessment + ISO 27001 / IEC 62443 / IEC 27036 alignment + cybersecurity governance + secure development + incident history + foreign...
IAEA-NSS17-SupplyChain-ThirdParty-OEM-Trust · IAEA NSS-17 - Supply Chain + Third Party + OEM + Vendor Security + Trustworthy Components →RICS-regulated firms must not transact with specially designated nationals anywhere they operate and could be exposed to sanctions; must run effective systems and controls to avoid such relationships; must train employees adequately on sanctions compliance;
rics-rules-of-conduct-and-global-professional-standards::CFC-4F · Sanctions: firm requirements →GENIUS Act section 4(a)(5) and (6): permitted issuers are treated as financial institutions under the Bank Secrecy Act and must maintain AML and CFT programs, records and reports, an effective customer identification program with enhanced due diligence, an eff...
us-sec-digital-assets-and-crypto-regulatory-framework::GENIUS 4(a)(5) · Run BSA AML, customer identification, sanctions and freeze capabilities as a financial institution →Questions people ask about sanctions compliance
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