Sanctions compliance and risk management

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Sanctions remain a major political tool in the complex international landscape. Whether responding to a potential breach or looking to futureproof your compliance framework, we can help.

Navigating a growing array of financial and trade sanctions and export controls – against the context of rapidly increasing enforcement activity – is a significant challenge for businesses.

Your sanctions concerns require advice that's pragmatic and proportionate to your business.

Tailored and proportionate

Sanctions compliance is not one-size fits all. We tailor our approach to suit your business.

No surprises

Our team excels in stakeholder management, ensuring effective communication with regulators and senior stakeholders.

Global response

We're experienced in international sanctions matters and collaborate with our network teams where applicable across borders.

Why Grant Thornton

Our sanctions specialists provide proactive compliance advice and support reactive sanctions work when issues arise – whether self-identified or regulator-driven.

We're experienced in supporting both regulated and non-regulated sectors, and work collaboratively to help you navigate sanctions compliance with confidence and clarity.

We employ flexible tools to help you interrogate and make the most of your data through our digital forensics and data analytics teams – supporting you with issue management, controls testing and enhancement.

We work seamlessly across our international network to ensure you receive up-to-date technical insights across major sanctions regimes, in particular the UK, EU and US.

Our services include:

Compliance framework review

Gap assessment of your programme against applicable regulations and recommending enhancements. We can draft policies or procedures where those are required.

Risk assessment

We can perform your sanctions risk assessment, and assist you to document and implement a new sanctions risk assessment methodology.

Sanctions screening systems

We can support you with implementing a new screening system, or to review and assess your existing screening solution to ensure that it's calibrated in line with your risk appetite. We can help you to streamline investigation and escalation processes associated with automated or manual screening alerts.

Investigations and transaction lookbacks

We're experienced in investigating potential sanctions breaches, using data analytics to identify and quantify the full extent of any issue. Our digital forensic team comprises experts in data governance, collection and storage solutions.

Regulatory reviews

We have extensive experience of regulator mandated reviews in the UK and overseas. We can perform the independent expert role or support you in responding to such an appointment, to ensure these processes run as smoothly as possible.

Sanctions training

We deliver sanctions training tailored to your organisation. This may be applicable to all employees, tailored to higher risk roles or delivered at board level.

Navigating sanctions compliance

Explore the five essential elements of a robust sanctions compliance programme. Learn how governance, risk assessment, internal controls, training, and monitoring can help your organisation manage sanctions risk and respond effectively to global regulatory challenges.

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Case study

New screening configuration for a wealth management firm

The challenge

A wealth management company’s new AML and sanctions name screening system had generated a significantly higher daily volume of alerts, resulting in investigation backlogs.

The solution

We performed document and email reviews, process walkthroughs and ‘sandbox’ testing to support identification of a screening configuration that was in line with risk appetite.

The result

We helped the firm to quantify the backlog of screening alerts and create a prioritised remediation plan. We recommended enhancements to the screening alert investigation process.

Case study

Identifying sanctions risk for a UK manufacturer

The Challenge

A UK manufacturer needed help to investigate the order book of its Central European subsidiary, identify potential sanctions issues and provide observations on its controls.

The Solution

We analysed financial data and talked to personnel to establish compliance controls, assessed component parts against export controls requirements, and considered US nexus points.

The Result

The client was able to obtain legal advice regarding the implications of the order book, and whether any of its customer relations had caused sanctions issues.

Case study

Transaction review for a sanctioned manufacturer

The Challenge

A UK-headquartered chemicals company with operations in the EU had been sanctioned by a European customs authority in relation to the transhipment of dual-use goods to Syria.

The Solution

A sample review of around 200 transactions involving restricted products and countries subject to export controls to identify potential breaches of EU regulations.

The Result

We delivered a report on our findings, outlining issues identified during the transaction review. Our client used this to support ongoing communication with their banking partners.

Article

Sanctions: Lessons to learn from AML compliance

How can businesses navigate their responsibilities in the increasingly complex world of sanctions compliance?

Sanctions compliance and risk management

Tailored and proportionate

No surprises

Global response

Why Grant Thornton

Our services include:

Navigating sanctions compliance

New screening configuration for a wealth management firm

Identifying sanctions risk for a UK manufacturer

Transaction review for a sanctioned manufacturer

Sanctions: Lessons to learn from AML compliance

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