Sanctions - Managing Compliance Risk

Sanctions compliance has been gaining increasing attention in recent times and has now become a fundamental element in a Subject Person’s financial crime prevention programme. It is, however, also becoming a growing challenge in view of the continual updates to existing sanctions, the introduction of new sanction regimes and the increasing complexity of the measures imposed.

The principal focus of the presentation is to outline the local regulatory framework and the resultant obligations imposed on Subject Persons and to provide useful guidance for setting up a robust and effective sanctions compliance programme aimed at managing risk effectively.

During the presentation, participants will also be provided with:

• An overview of sanctions and the different regimes in place;
• A more detailed review of targeted financial sanctions;
• Information on extraterritoriality and blocking statutes;
• The role and functions of the Sanctions Monitoring Board;
• Guidance on sanction screening; and
• The consequences of any violations.

The presentation, which will include a number of examples and case studies, will outline regulatory expectations and good practice, offer practical solutions, and address a number of frequently asked questions.

The Speaker

Antonio Ghirlando is a seasoned compliance specialist with a specific focus on financial crime compliance, including the prevention of money laundering, countering the funding of terrorism, combatting proliferation finance, sanctions, anti-bribery & corruption, and fraud. He is also well versed in other regulatory compliance obligations.

Antonio is actively involved in the provision of real-time operational support, specialist advice, intuitive guidance and training to several businesses seeking to ensure ongoing compliance with their regulatory obligations. He also assists Money Laundering Reporting Officers (MLROs) and Compliance Officers with their day-to-day tasks and oversight.

During his career he has worked with various licensed entities in both the financial and non-financial sectors, having served as the Head of Compliance, Head of Financial Crime Compliance, Money Laundering Reporting Officer (MLRO) and Data Protection Officer (DPO). He also headed the Compliance and Legal & International Sections of the Financial Intelligence Analysis Unit (FIAU) and served as the Secretary General of the Malta Bankers’ Association (MBA).

Antonio has been involved in several local and international committees, and has also presented numerous papers at various workshops, seminars, conferences and training events. Antonio is a graduate of the University of the Witwatersrand in Johannesburg, South Africa.

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