Sanctions regimes in the U.S., U.K. and EU are evolving rapidly, causing continual changes, and the penalties for failure – civil and criminal – are potentially huge. Multiple inconsistent sanctions lists and increased focus on supply chains and third-party entities are making compliance for global organizations a full-time headache.
The U.S. has led the way in introducing sanctions programs and imposing the highest fines. While the current U.S. administration has appeared to relax enforcement, the picture is mixed. No compliance team should rely on this relaxation continuing in the future.
