Sanctions Changes and US Financial Institutions
I was interviewed for a Thomson Reuters piece on the subject
I still kind of flush and get amazed a little when I am asked for an interview for a media piece on illicit finance or sanctions. I guess it’s impostor syndrome, as I know how many incredible, dedicated, and brilliant people with whom I used to work are out there and can be approached as experts.
But here we are.
Thomson Reuters asked me for my insights after Treasury released its sanctions review and what these changes could mean for US financial institutions. And then they did an article.
“As the government focuses on more precise and targeted sanctions on specific issues, financial institutions and other U.S. firms will need to pay extended attention to possible targets and get out of the habit of simply screening against sanctions lists,” says Kenyon. “This change in sanctions strategy is going to require greater due diligence on the part of financial institutions. They really need to know their customers on a much more granular level, because that’s what Treasury is expecting.”
I’m still expecting someone to comment that I have no idea what I’m babbling about, and that I’m completely wrong.