Sanctions Compliance and Screening Controls

Sanctions Compliance and Screening Controls is Course 5 of 6 in the StudyAML British Virgin Islands Series. This course explains how sanctions apply in practice in the BVI, from legal obligations under UK Orders in Council to the operation of screening controls across customers and transactions. It focuses on how risks are identified, how alerts and true matches must be handled, and what immediate actions are required to prevent breaches. Practical controls. Timely escalation. Reduced sanctions risk.

20 - 25 minutes

Certificate Included

British Virgin Islands

Description

This self-paced course takes approximately 20 to 25 minutes to complete and is designed for staff with operational, compliance, risk, and oversight responsibilities within regulated financial services businesses. The course explains how sanctions apply in the British Virgin Islands through UK Orders in Council, reflecting United Nations sanctions and UK measures, and how these obligations align with international expectations under FATF standards. Learners will explore the scope of sanctions prohibitions, including indirect benefit and circumvention risk, and how these concepts apply in real operational scenarios. The course also covers sanctions screening in practice, including who and what must be screened, how alerts are generated, and how to distinguish false positives from true matches. Asset freezing obligations, reporting requirements, and confidentiality rules are explained clearly, with emphasis on immediate action and escalation. Throughout the course, learners are guided on how to apply judgement, follow procedures, document decisions, and maintain effective ongoing sanctions controls. By the end of the course, learners will understand what is expected of them, how sanctions compliance works in practice, and how to reduce sanctions breach risk for both the firm and the individual.

What will you learn?

Module 1: Sanctions Applicable in the BVI
You will learn how sanctions are implemented in the British Virgin Islands through UK Orders in Council, the role of United Nations sanctions, and how the scope of sanctions prohibitions affects financial services activities. This module explains why understanding scope is critical for daily decision making and escalation.
Module 2: Sanctions Screening
You will learn who and what must be screened for sanctions risk, how screening systems generate alerts, and how to assess false positives versus true matches. The module focuses on screening as an ongoing control and the importance of documented, risk based decisions.
Module 3: Asset Freezing Obligations
You will learn when asset freezing is required, what immediate actions must be taken once a true match is confirmed, and how reporting obligations apply. This module reinforces confidentiality requirements and the need for timely escalation.
Module 4: Ongoing Sanctions Risk Management
You will learn why periodic rescreening and change driven reviews are essential, what events trigger reassessment of sanctions risk, and how ongoing controls support a risk based approach aligned with regulatory expectations.
Module 5: Enforcement and Penalties
You will learn about civil and criminal consequences of sanctions breaches, common enforcement themes, and why individual accountability matters. This module highlights how control failures arise and how effective governance and culture reduce enforcement risk.