Industry specific compliance models

The general sanctions compliance models must be adjusted to take account of the specific challenges each industry faces. The following lists address some of the most obvious compliance concerns that typically for:

  • Defense equipment manufacturing, sales and brokering companies, and their buyers
  • Transportation Sector – with best practices for operators and owners of airplanes, maritime vessels and cargo and customs brokers; and best practices for clients such as consignor and recipients of cargo shipments
  • Banks and financial intermediaries, specifically for general bank account management; and for providers of auxiliary financial services, creditors, investment banking or insurance services

Senior compliance managers and their teams should elaborate on the basis of these starting points to make adjustments according to the specific business environment in which they operate and to establish their individual monitoring protocols.