- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2020-08-04T16:23:00
The United Kingdom has become just the second country to issue guidance for companies in the maritime shipping industry alerting them about common illicit and suspicious practices used to evade sanctions.
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Can the United Kingdom play with the big boys when it comes to issuing its own sanctions, and what do compliance professionals need to know as Brexit’s start date looms closer?
A global advisory to alert the maritime, energy, and metals sectors about common deceptive shipping practices used to evade sanctions includes seven sanctions compliance best practices to mitigate risk.
Data governance has become a key concern for companies, especially when the EU AI Act and General Data Protection Regulation have put a premium on handling data responsibly and ensuring that artificial intelligence does not cause harm.
The U.K. has issued 56 new sanctions against entities and individuals involved with Russia’s war effort, including several private mercenary groups operating in Africa that are connected to the Kremlin.
Global sanctions rules are increasing rapidly, as are tools to detect and punish those who break them. In response, the U.K. government is creating a new Office of Trade Sanctions Implementation to investigate and penalize those who break sanctions rules.
Five individuals and seven entities in Iran, China, and Hong Kong have been targeted for U.S. sanctions by the Treasury Department’s Office of Foreign Assets Control for helping to obtain components used in Iran’s missles and drones.
