The Department of Justice’s second-in-command has once again put businesses on notice regarding compliance with Russian sanctions and where it should stand on the priority scale.
“For any multinational corporation—indeed, for any business with an international supply chain—sanctions should be at the forefront of its approach to compliance,” Deputy Attorney General Lisa Monaco said in virtual remarks delivered at a Global Investigations Review event Thursday. “Every company needs to be pressure-testing its sanctions compliance program, for instance through risk assessments, technology upgrades, and industry benchmarking. Every board of directors of such a company should be inquiring whether it is conducting necessary oversight of the company’s sanctions controls. Every corporate officer should be committed to ensuring they have the programs, culture, personnel, and counsel to identify problem areas and navigate the rapidly changing landscape.
