Navigating The Complicated ‘Sanctions’ Landscape

Few areas of financial crime prevention in Bermuda are as complicated and misunderstood as 'sanctions'.

Sanctions are measures intended to force cooperation and compliance with international law and standards. In international law and parlance, sanctions may be diplomatic or they can affect commerce – the latter being economic or trade sanctions.

Governments that have instituted sanctions against another country, or financial institutions or businesses doing business in or with that country, will enforce those sanctions strictly and do require that their domestic financial institutions comply. This is one of those areas in which Governments can and do dictate with whom private enterprise can do business.