We simplify the complex sanctions landscape.
Financial crime poses a significant threat and ranks among organisations’ key risks. As regimes evolve, navigating sanctions regulations is an increasingly complex and challenging undertaking. With deep knowledge of Australian and international sanctions regulations, we help clients to transform their compliance programs and investigate and remediate instances of suspected breaches.
We work with clients to assess and manage sanctions risks through the development, monitoring, and maintenance of risk-based systems and controls. Further supporting compliance efforts, we provide education and training to raise awareness across the business or organisation, third parties, and supply chain about identifying and mitigating sanctions risks.
How we can help you
We approach issues collaboratively, engaging widely to determine the scope of work, the issues in question, and identify the right resources required.
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We help clients understand their risk profile and develop and review a Sanctions Compliance Program. We assess applicable sanctions regulations, and consider their customers, products and services, the geographies they operate in, third and fourth parties, and activities.
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We help clients understand their sanctions risk appetite, implement risk-based systems and controls, and determine if their processes and controls are fit for purpose. This includes reviewing systems design, coverage, and performance, and validating input data accuracy.
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We help streamline costly and time‑consuming processes, including license applications or responding to regulatory notices and investigations. Should a regulatory breach occur, we help clients understand their reporting requirements, develop a remediation plan, and help with ongoing risk management.
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KordaMentha helps clients fill resourcing gaps and assists with their sanctions-related operational needs. This can include managing the output of sanctions screening, escalated due diligence, and remediation.
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Raising awareness among customers, third-party providers, and internal stakeholders is critical to managing and mitigating sanctions risks. We provide targeted education and training, helping clients establish frameworks to appropriately identify and escalate concerns and reduce sanctions risk exposure.
Our experience
We bring an evidence-based approach to our work with a strong emphasis on action and results.
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Sanctions advice
KordaMentha was engaged by a financial institution to provide advice on their financial crime operating model. The aim was to help our client accommodate increased sanctions screening requirements prior to joining the New Payments Platform.
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Expert sanctions report
Our client appointed us to provide an expert sanctions report in support of ongoing litigation involving the movement of funds from Iran into Australia.
We value the tailored, innovative, and flexible approach they take and their experience in the financial crime sector is very evident.
