Emerging Risks Interview Series: It’s more than just Sanctions – A Chief AML Officer’s perspective

The crisis in Ukraine has brought strict sanctions on Russia, and financial institutions must move quickly to implement them.

In roughly a month’s time, sanctions against Russia, its leaders and cronies have soared, by some industry estimates doubling to more than 4,000 entities from countries like the United States, United Kingdom and Europe leading the charge – making the country the most sanctioned region on earth.

But sanctions screening and compliance are only the first steps.

These initiatives to find connections to shunned and blacklisted companies and individuals – in some cases powerful, politically-connected and corrupt oligarchs with a rich history of hiding ownership interests in assets – also shine a spotlight on the need for client due diligence and tracing source of wealth.

Join us for a rousing and relevant discussion between ACFCS Senior Director of Training Solutions, Casey Nelson, and Kim Lacey, the Chief AML Officer at Key Bank, to get a critical look at on-the-ground, tactical decision-making in a fluid and fast-moving environment. 

Lacey provides her first-hand experience on dealing with these recent sanctions and explains the plethora of compliance issues that come along with acting and reacting to the historic and rapid-fire pace of designations flying in fast and furious from around the world.

The ACFCS Emerging Risks series features interviews with thought leaders and change-makers who are tackling the latest challenges and most pressing threats across the financial crime spectrum.