Sanctions Screening: Challenges and Control Considerations

Economic sanctions have evolved dramatically over the past few years, particularly following Russia's invasion of Ukraine in February 2022. The resulting sanctions are unprecedented in terms of their number, scope, complexity, and types. Consequently, failures in sanctions screening have played a significant role in numerous penalty settlements with financial and non-financial entities, intensifying the need to address this critical issue.

In the chapter, “Sanctions Screening: Challenges and Control Considerations” featured in GIR’s The Guide to Sanctions, Charlie Steele, Gerben Schreurs, Weng Yee Ng, and Jona Boscolo Cappon delve into current regulatory guidance for successful sanctions screening programs. They explore how screening aligns with the core elements of a comprehensive sanctions compliance program, present enforcement actions highlighting screening failures, and discuss screening within the context of sanctions investigations.