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Countries and entities of concern such as North Korea, Iran and organised financial crime groups have advanced and diversified their procurement activities through circumventing trade sanctions. These activities have been furthered through a network of shipping companies and their vessels, the movement of specific goods such as military hardware, the creation of shell companies, and the use of clandestine ports and terminals. For banks and financial institutions, managing and monitoring suspicious entities within trade finance documents and uncovering red-flag activity is very demanding and time-consuming. The requirements of BIS and the Office of the Comptroller of the Currency (OOC) export control and dual-use goods identification measures require trade finance banks to employ functions and procedures to ensure certain technology, goods and commodities are not delivered to proscribed entities or individuals. Furthermore, the regulator also notes the need for an internal compliance program for those involved in the financing or transportation of sensitive goods.
As the compliance role of a trade finance bank across the U.S. continues to change, join IHS Markit in this webinar with industry peers to discuss how to remain compliant with current export control and dual-use regulations.
Date: 24 February 2022, Thursday
Time: 10:00am EST
Duration: 1 hour
Online Platform: ON24
The ON24 specifications can be found here: