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Our very own Irene Kenyon, Director of Risk Intelligence at FiveBy is interviewed in this fascinating article by Thomson Reuters which discusses the complicated environment of sanctions compliance – a landscape filled with pitfalls that perfunctory screening tools may be insufficient to catch.
Unfortunately, the consequences for inadequate sanctions screening have never been more punitive. Regulatory scrutiny surrounding sanctions is stricter than ever and penalties for noncompliance can cost companies millions of dollars. Furthermore, a new presidential administration means U.S. sanctions are currently in a period of flux — a period, that is, when the possibility of an inadvertent sanctions violation is at its highest.
Inadequate sanctions screening can bring all manner of risk to companies involved in international trade. FiveBy Solutions can help. Need more information? Visit www.fiveby.com or contact us at firstname.lastname@example.org.