Cryptocurrencies: An Avenue for Sanctions Evasion?

In recent years, the rise in cryptocurrencies’ popularity within the financial sphere has illuminated concerns about their potential misuse in evading sanctions. The decentralized nature and privacy-centric features of these digital currencies can, unfortunately, offer ample opportunities for bypassing sanctions restrictions. Why the Concern? Cryptocurrencies: Balancing Decentralization and Privacy Cryptocurrencies operate using blockchain technology, presenting an […]

Sanctions: How to Mitigate the Risk of Non-Compliance

Sanctions are restrictions imposed by countries or governments on others to achieve specific goals without using force. Implementing an effective sanctions compliance program is crucial as the consequences for non-compliance can result in severe penalties and reputational damage. The Office of Foreign Assets Control (OFAC) suggests five key elements for such a program: 1. Senior […]