Emerging Threats

Question 1

How are cyber-related sanctions imposed in the US?

Answer 1

April 2015 OFAC Cyber Related sanctions programme through president’s EO 13694 which authorised the imposition of sanctions against people deemed responsible for various malicious cyber related activities.

Question 2

Per the Wolfsberg Guidance on Sanctions Screening, what does an institution need to consider from a risk standpoint?

Answer 2

• the sophistication and configurability of matching software
• availability of screening rules to optimise alert creation / suppression
• support for the screening or transformation of data in non-Latin characters
• ad hoc, one off or manual screening functionality
• workflow configurability
• availability of metrics reporting