Maximum Pressure – OFAC Sanctions and Corruption Update

Tuesday, June 23, 2020
2:00 PM ET / 1:00 PM CT

OFAC is targeting the most prolific economic sectors within nations of interest with a “maximum pressure” strategy to identify and starve out bad actors. This session will highlight the strategy in addressing current geopolitical challenges, providing an update on the ever-evolving sanctions regimes imposed against Iran, Russia, Cuba, North Korea, and Venezuela and what that means for your institution. The session will also discuss the Framework of OFAC Compliance Commitments released in 2019, current case studies, and enforcement actions, and best practices.

Join this session to learn:

  • The latest OFAC updates
  • How our changing world impacts regulations
  • Best practices for maintaining OFAC compliance
  • How these sanctions impact your financial institution

Meet Your Presenters

Oscar Enriquez, CAMS, CPAML, MBA

Oscar Enriquez is a Senior Manager in Kaufman Rossin’s Risk Advisory Services Practice, helping clients navigate complex business challenges and manage risk, especially in the area of Bank Secrecy Act, Anti-Money Laundering and OFAC compliance. He specializes in model validations including transaction monitoring, customer risk rating, OFAC and watch list interdiction systems. Before joining Kaufman Rossin, Oscar was the Compliance Officer at Banco de Bogotá. Oscar holds CPAML, CAMS and AMLCA designations.

Full Bio

Yanelis Perez , CAMS

Yanelis Perez is a Senior Manager in the Risk Advisory Services Practice at Kaufman Rossin. She focuses her advisory practice on Bank Secrecy Act, Anti-Money Laundering and Sanctions compliance, performing engagements in the areas of independent testing, data and model system validations for transaction and sanction screening tools. Her experience spans in-house and advisory roles in domestic community banks and large institutions, and international offshore banks in high risk jurisdictions. She also provided guidance on complex regulatory issues related to OFAC Sanctions. Yanelis holds her CAMS designation.

Full Bio

Alexandra Solórzano, CAMS

Alexandra is an international trade specialist in Winston & Strawn LLP’s Washington, DC, office. She focuses on anti-money laundering/countering the financing of terrorism (AML/CFT), international sanctions, anti-corruption/anti-bribery, and global trade policy with a concentration on trade involving Latin America. In furtherance of this focus, she works with clients to conduct internal investigations, to respond to government-initiated investigations, and to address day-to-day trade compliance related inquiries. She assists clients in effectively safeguarding against financial and reputational damages posed by money laundering threats and financial crimes risks. Alexandra conducts “Know Your Customer” (KYC) counterparty due diligence, including (a) research (using internal and external databases) to identify beneficial ownership, source of funds, and adverse media, (b) screening of all counterparties against sanctions and other denied party lists, and (c) broader transactional reviews to identify any potential red flags related to sanctions, AML/CFT, corruption, bribery, or other financial crime risks. Alexandra actively monitors legislation and regulatory developments relating to client matters. She delivers policy analysis on various political and economic developments in Venezuela, Nicaragua, Colombia, and Cuba.  She also follows legal trends on beneficial ownership requirements, customer due diligence, and supply chain transparency.  With respect to economic sanctions, she tracks the potential effects of newly imposed economic sanctions on countries, entities, individuals, and industry sectors. Of particular focus of late is the removal of waivers under Title III of Helms Burton.  Further, she assists in international litigation and arbitrations. Alexandra assists tech clients with import regulatory matters pending before U.S. Customs & Border Protection, including matters related to entry process, assessment of duties for goods subject to unfair trade proceedings (antidumping, countervailing duty, Section 201, and Section 232), compliance with other agency regulations, and developing internal compliance procedures.

Full Bio

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