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Financial Sanctions (UK)
All over the world, unscrupulous characters are planning and carrying out criminal acts, and those plans need financing. Financial sanctions save lives by starving terrorists and others of funds and resources. Financial services firms in the UK must ensure they understand and follow the restrictions of sanctions on any of their customers.
This course explains how UK financial sanctions work, whom they apply to, the government agencies that enact sanctions, and the consequences for breaching sanctions. You will also learn your responsibilities for reporting breaches of UK financial sanctions.
Covered in this course:
- Why UK financial sanctions exist
- Responsible parties involved in making and implementing sanctions
- How financial sanctions apply to designated targets
- How an OFSI licence allows for specific transactions under financial sanctions
- Your responsibilities for understanding UK financial sanctions and reporting any suspected breaches of law
