Welcome to our specialized training consultancy, where we excel in crafting tailored programs focused on OFAC and global sanctions compliance.
Whether your organization needs general awareness training for all staff or specific instruction for sanctions compliance administrators, GSTI is dedicated to creating the perfect training plan for you.
Recognizing the importance of these regulations and their impact on businesses, compliance is crucial. We offer flexible options to suit your busy work environment, including online training programs or on-site sessions at your facility.
From general awareness to specialized training, GSTI is committed to developing a customized plan that addresses all your sanctions compliance requirements. Our goal is to empower your business with the necessary knowledge and tools to strictly adhere to OFAC and global sanctions regulations, ensuring a secure and compliant future.
Effective sanctions compliance training is crucial for any organization to uphold legal standards while avoiding possible severe repercussions.
Tailoring training topics to suit specific products and services is essential, but several fundamental matters must be integrated into the curriculum:
Understanding Global Sanctions
Providing a comprehensive overview of sanctions, including their historical background, different types, common evasion tactics, and the serious consequences of noncompliance.
Familiarizing employees with the specific sanctions laws that apply to the institution and its personnel, ensuring they are aware of their legal obligations.
Internal Policies and Procedures
Detailing the institution’s internal policies and procedures, emphasizing customer due diligence, enhanced due diligence, ongoing monitoring, and other relevant sanctions-related elements.
Sanctions Risk Assessment
Conducting a thorough review of the institution’s internal sanctions risk assessments to foster an understanding of potential vulnerabilities and risk mitigation strategies.
Penalties for Noncompliance
Clearly outlining the penalties associated with violating sanctions, encompassing criminal and civil consequences, fines, imprisonment, and internal sanctions like disciplinary actions and potential termination of employment.
Educating employees about the essential requirements for maintaining accurate and comprehensive records to ensure compliance with applicable laws.
Sanctions Screening and Blocking
Explaining the importance of sanctions screening and blocking systems, which help prevent prohibited transactions from occurring.
Clarifying the reporting requirements when suspicious customers or transactions are identified, encouraging prompt and thorough reporting to the appropriate authorities.
Equipping employees with the knowledge and protocols to respond effectively when customers attempt to circumvent reporting requirements.
Employee Duties and Accountability
Reinforcing the individual responsibilities of employees in adhering to sanctions compliance policies and promoting a culture of accountability.
Sanctions Trends and Emerging Issues
Staying informed about evolving trends related to criminal activity, terrorist financing, and regulatory requirements to ensure proactive compliance measures.
Presenting real-life sanctions evasion cases, analyzing the detection methods, impact, and resolution of these cases provides valuable learning experiences.
Who we serve
FINANCIAL SECTOR
Banks and Credit Unions
Investment Firms
Insurance Companies
FinTech Firms
Cryptocurrency Companies
Money Services Businesses (MSBs)
Payment Processors
Hedge Funds, Mutual Funds and Private Equity Firms
MAJOR INDUSTRIES
Commodity Trading
Shipping and Maritime
Aerospace and Defense
Energy (Oil and Gas)
IT / Technology Companies
Pharma and Medical Devices
Telecommunications
Metals and Mining
ACADEMIA
Universities
Business Schools
Law Schools
Graduate Schools
Research Institutes
Non-Governmental Organizations (NGOs)
What we provide
TRAINING COURSES
LIVE WEBINARS
CUSTOM GROUP TRAINING
