Organisations are having to scramble to comply with the largest package of sanctions ever imposed against a G20 nation. Read on to find out the what, the why and the how.
In the wake of Russia’s invasion of Ukraine on the 24th of February 2022, the EU, UK and the US, among other governments, quickly executed the largest package of sanctions ever imposed against a G20 nation against Russia.
Organisations are now having to make sure that they are complying with the fast-changing sanctions landscape. Failure to comply with the host of new international sanctions regimes will mean severe legal and financial penalties for organisations. In the UK, it can also lead to imprisonment for up to 10 years.
The risk is not just legal and financial penalties, but that compliance holds up the normal course of business, preventing organisations from serving and onboarding the right clients.
Read this report by Xapien to learn what exactly sanctions are, penalties for breaches, the complexities of compliance, and the solutions.