Ukraine/Russia-Related Sanctions and Response Plan for Financial Institutions

As the Russian invasion of Ukraine continues, financial Institutions must be well-positioned to respond to continued economic sanctions imposed by the U.S. Executive Administration, U.S. Department of the Treasury Office of Foreign Assets Control (OFAC), and other regulatory agencies. Use this checklist to review current sanctions and restrictions imposed on Russia, its entities, and individuals, and gain insight into the enforcement efforts undertaken by other regulatory agencies.

READ HERE »

Related Content        

• Sanctions and Penalties for Violations of the Bank Secrecy Act and OFAC Requirements
  Access this practice note to gain an overview of the various civil and criminal penalties assessed against financial institution for violating provisions of the Bank Secrecy Act, and economic sanctions mandated by the OFAC and other U.S. regulatory agencies.

• What OFAC Means By A Risk-Based Approach To Compliance
  Read this article to understand the COVID-19 challenges associated with operations, remote workforces, and changing client demands. Review the OFAC issued guidance, which remains relevant today, for implementing a risk-based OFAC compliance approach.

• Bank Reporting Requirements under the Bank Secrecy Act and OFAC Sanctions Laws
  Examine the regulatory reporting requirements under the Bank Secrecy Act and the reporting and filing requirements mandated by the OFAC.

Practical Guidance Updates
Featuring the latest updates from your Practical Guidance account.

• Trends & Insights provides the latest in news articles and insight documents on trending areas for financial service organizations.
• Compliance with OFAC, AML, and USA Patriot Act Resource Kit is a tool developed to cover key financial crimes related issues, laws, and regulations applicable to in-house lawyers and counsel advising banking and financial institutions, finance companies, fintech firms, and lenders.
• Ukraine Invasion Resource Kit provides up to date resources to aid financial services institutions navigate through the myriad of Russian sanctions associated with this conflict.
• The Practical Guidance Journal Spring 2022 Edition features guidance for employers on COVID-19 vaccination, testing, and employee health data protection; climate change disclosure market trends; and updates related to the Secured Overnight Financing Rate (SOFR).
• Check out the new Practical Guidance Author Center! Learn about the 1500+ leading attorney authors contributing to our 21 practice areas, and find out how you can Become a Practical Guidance Author.
• Document alerts are now available in Practical Guidance. This allows you to stay current on legal developments that affect your practice. Find out how to set up your document alerts.

Experience results today with practical guidance, legal research, and data-driven insights—all in one place.

Experience Lexis+