AML Legends Talk Sanctions

‘I believe that it’s become very complex for financial institutions to actually comply. The ask by the Treasury to focus on sanctions evasion is really, in many ways, the bridge back to AML’ -Bill Fox on the global sanctions landscape and what it means for FIs ‘The only sector that really can enforce [sanctions] are the financial institutions sector. We are the police – even though we say all the time in the AML world that we’re not the police – I think we are the police when it comes to sanctions’ -Rick Small on the global sanctions landscape and what it means for FIs On the latest episode of the Sanctions Space Podcast, Justine sat down with AML legends Rick Small, Executive Vice President, Director Financial Crimes program at Truist and Bill Fox, former Managing Director Financial Crimes at Bank of America. They discuss the intersection and interlinkage between sanctions and AML, assessing sanctions risk in a complex environment, and how the effectiveness of sanctions frameworks could be improved.