It follows, then, that any and all businesses that physically move goods, who arrange that movement or finance it may, knowingly or unknowingly, be involved in the movement of goods that a government somewhere wants to restrict, even when the shipment does nor originate, call at or terminate in a port under that country's control nor, even, pass through its waters.

Increasingly, governments are applying sanctions through the financial system following a model set by the USA.

The US Treasury has the power to block all dealings with persons it considers harmful to its national interests. In theory, this power is limited to the US citizens and US registered corporations wherever they are in the world, plus anyone in the USA either as a resident of visitor. It also includes foreign businesses doing business in the USA. However, a complex series of laws creates a layering effect which means that almost all businesses, anywhere in the world, that do business with those persons face presumptive and extra-judicial sanctions in the USA. Those sanctions can be sufficiently serious as to drive a business into immediate liquidation. There are also a range of criminal charges that can be brought and for which the USA can seek extradition of individuals working for foreign companies.

In addition to listing persons (both individuals and "entities") the US Treasury lists ships. And that means that ports, bunkering companies and even those transporting goods on those ships fall within the range of those laws and the threats they create.

But there is more: in addition to the US Treasury list, there are other US sanctions that also affect those in the shipping industry from ports owners and operators to trading companies and providers of trade finance including banks issuing letters of credit. Through a different system of laws, the USA is able to bring criminal prosecutions against foreign companies that have, either directly or through group operations, any "touch point" within the USA. And these sanctions are entirely political and have nothing to do with the safety or security of the USA.

This seminar details the nature of the risks, how they arise and how to manage them. The seminar also covers sanctions by the United Nations, the European Union and other countries so as to provide an overview of how these affect the global maritime, aviation and shipping industry and those that provide support and other services to it.

Who should attend?

The Maritime, Aviation and Shipping Industry and those that support it

For example:

- Ship owners and operators
- Airlines and owners and operators of aircraft
- Aircraft leasing companies
- Operators of private and charter aircraft
- Shipping agents
- Freight forwarders
- Operators of ports
- Trade finance officers
- Providers of letters of credit
- Remittance services providers
- Payment card services providers
- Ship registrars
- Providers of bunkering facilities
- Bankers for the above
- Insurers for the above
- Lawyers and internal auditors for the above

Benefits of attending

Failure to identify and act in relation to dealing with a sanctioned person, entity or vessel can lead to significant financial penalties.

Such penalties are imposed without trial and it can take many months, in some cases years, to resolve, even through the use of an appeal to the US courts.

In this course, delegates will learn how the applicable sanctions are created, how they apply outside the USA and the risks that non-US businesses face.

Delegates will also learn how to identify the risks in order to act accordingly and manage those risks.

Programme

Day One

Introduction to sanctions

Introduction to the use of sanctions by the USA

Details of the various sanctions regimes in the USA

Anti-boycott measures

Examining documents for evidence of risk

Checking the existence of risk

Day Two

High-risk ports: some ports are higher risk than others due to political affiliations. Can you identify and assess them?

Can lawyers head off sanctions risk before a contract is entered into?

How do insurers protect themselves against the risk of involvement in a transaction that might be subjected to sanctions after the policy is on foot but before the risk is ended?

Case studies:

- how the USA gathers intelligence and acts on it

- Penalties applied - how, what and how much?

Overview of other applicable sanctions and their effects:

- UK
- EU
- Australia
- China
- UN

Seminar times: 08:30 - 16:30

Course Director

Nigel Morris-Cotterill is Head, The Anti Money Laundering Network, an international group of companies specialising in the development and deployment of risk management and compliance policies and procedures for financial institutions and commercial concerns.

Morris-Cotterill was a solicitor in private practice in London before creating the first of the Group companies in 1994.

He is the author of "How Not To Be A Money Launderer" (1996 & 1998 with 2011 reprint in paperback and e-book) and "Sun Tzu and the Art of Litigation" (August 2012). He is a frequent contributor to specialist media with global reach.

Click to host this seminar.