First published in The Royal Gazette, Legally Speaking, July
2019
In the ever-changing world of politics and their related global
financial sanctions, it is imperative that businesses understand
the financial sanctions regimes in place and have effective methods
to screen their systems for any potential breaches.
The dynamic nature of the global sanctions landscape is vividly
illustrated when one considers Brexit, where the United Kingdom may
be required to introduce an entirely new and independent sanctions
regime once it has exited the European Union; or the United States,
where there is increasing focus on secondary sanctions.
Financial sanctions are imposed to combat money laundering,
terrorist financing and the development of weapons of mass
destruction. Sanctions are primarily imposed by the United Nations,
EU, US and UK. Such measures range from comprehensive economic and
trade sanctions to more targeted measures such as arms embargoes,
travel bans,
