Venezuela: A look into recent OFAC Sanctions, FinCEN’s Advisory and Travel Restrictions
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10/11/2017
When: Wednesday, October 11, 2017
11:30 AM
Where: FIBA Training Room
80 SW 8th Street
Suite 2170
Miami, Florida  33130
United States
Contact: William Ramos
3055393717


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During Q 2 and Q 3 of 2017 there has been an increment in Sanctions OFAC has imposed with respect to the situation in Venezuela. In addition, at the end of Q 3, 2017 FinCEN sent out an advisory on widespread public corruption in Venezuela alerting the financial service industries on money laundering schemes used by corrupt Venezuelan officials. The US Government has also added Venezuelan travel restrictions which apply to certain Venezuelan government officials and their family.

 

How do the above impact the financial service industries?

How do these measures impact day to day business with Venezuelan nationals?

How will this affect AML/ OFAC monitoring of transactions or the Risk rating of Venezuelan portfolios?

 

This is a joint webinar presented by FIBA’s AML Compliance and Legal & Regulatory Affairs Committees. The must-see panel will address the following topics:  

  • An overview of the OFAC Sanctions on the situation in Venezuela
  • An overview of FinCEN’s recent Advisory on corruption in Venezuela
  • An overview of the recent Travel Restrictions
  • The Banking perspective to the above
  • Ways to fulfill AML/ OFAC monitoring of transactions in light if the new sanctions and advisory in place
  • FIBA Best Practices     

 

Can't make it in person? Register for our live web broadcast of the event:  https://goo.gl/F9qizU

 

 

Moderator:  Alcides I. Avila - Partner, Avila Rodriguez Hernandez Mena & Ferri LLP    

Speakers:

  • Daniel Gutierrez - Vice President and Regulatory Risk Manager, Ocean Bank & Chair of FIBA’s AML Compliance Committee
  • Sergio Alvarez Mena - Partner, Jones Day