Certificate Course: Targeted Financial Sanctions

In this certificate course, Surendra defines the concept of Targeted Financial Sanctions (TFS), and compares it to Comprehensive Sanctions. TFS can be broadly classified into four categories. Surendra explains the difference between these categories, and covers the various sanctioning authorities that exist today.

The course also covers a brief description of UN Targeted Financial Sanctions, which follow FATF Recommendations against Terrorism Financing and Proliferation Financing, and implementation process of these sanctions.

Surendra states the obligations financial institutions have to identify designated persons, freeze their assets and prevent these people from using the financial system for their benefit. 

He concludes his presentation with evolving trends in economic sanctions across the globe.

Updated: July 2021
Level: Beginner-Intermediate
Inclusions: Assessment, Completion Certificate
Duration: 32 minutes
Points: 30

Trainer: Surendra Thapa, President & Founder, Global Intelligence Analysis Corporation, New York
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Webinar: Effective Implementation of Targeted Financial Sanctions in Zambia

Course Duration: 72 minutes
Course Points: 70

Fintelekt Advisory Services and the Financial Intelligence Centre, Zambia hosted a webinar on Effective Implementation of Targeted Financial Sanctions on May 20, 2021.

The webinar was moderated by Shirish Pathak, Managing Director, Fintelekt Advisory Services and the speakers were Diphat Tembo, Director – Compliance and Prevention Department, Financial Intelligence Centre, Zambia, Nicholas W. Turner, Of Counsel, Steptoe & Johnson and Brent Estrella, Group Head & Chief Compliance Officer, Rizal Commercial Banking Corporation.

The webinar was designed as an educational and awareness generation initiative for reporting entities in Zambia. In order to comply with, and effectively implement the domestic regulations around targeted financial sanctions, as well as help the country to stay compliant with international standards, reporting entities in Zambia must stay current on financial sanctions and be able to understand the impact of these sanctions to their present compliance program.

The webinar speakers brought the following issues to the fore:

– Improving awareness on the obligations around targeted financial sanctions in Zambia
– Understanding the challenges faced by reporting entities in implementing the requirements on targeted financial sanctions
– Best practices around screening
– The importance of employee training to detect potential offences
– How reporting entities are misused and what type of services or products are most vulnerable for the purpose of the potential breach, non-implementation or evasion of targeted financial sanctions
– Examples of indicators to identify risks linked to terrorism and proliferation financing

Participants from Zambia who attended this webinar live are entitled to receive a participation certificate. If you have already registered on Fintelekt Academy, the certificate will be sent to your registered email id on or before Friday, May 28, 2021.

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