Sanctions
Restrictive measures imposed by governments on countries, entities or individuals; also, penalties imposed by authorities for violations.
Overview
In financial crime, sanctions are economic and trade restrictions such as asset freezes and transaction bans, administered in the US by OFAC and elsewhere by bodies such as the UK OFSI and the EU. Firms must screen customers and transactions against sanctions lists.
In enforcement, a sanction is any penalty an authority imposes for a breach.
It connects most directly to Office of Foreign Assets Control, Sanctions screening and OFAC requirements.
Check the official sources below for legal scope, applicable dates and exceptions. This entry is an explanatory reference, not legal advice.
Why it matters
Sanctions breaches can be strict-liability and criminal.
Who it affects
Banks, payment firms, crypto businesses, exporters and any business moving money internationally.
Where it sits
Ten linked steps connect where you operate to the proof that you complied.
- 01Jurisdiction
- 02Industry
- 03Activity
- 04Authority
- 05Regulation
- 06Requirement
- 07Guidance
- 08Control
- 09Evidence
- 10Enforcement
Connections
The terms most closely tied to Sanctions. Select one to open it.
What to do about it
- 1Link the action to the obligations it cites.
- 2Ask whether your controls would have caught the same failing.
- 3Remediate any gap and record the decision.
- 4Keep evidence that the fix is working.
From requirement to evidence.
Sanctions obligations are mapped to screening controls tested on every transaction.
Request early access →