In “What Banking CCOs Need to Know About New Terrorist Funding Order” (Compliance Week, 13 Sept. 2019), Gabe Hidalgo, managing director in K2 Intelligence’s Regulatory Compliance practice, discusses the impact of the latest terrorism financing sanctions on bank compliance. According to Gabe, if banks are perceived as materially assisting a sanctioned entity, they too can be sanctioned—raising the stakes for ensuring compliance with the order. As a result, compliance officers should act now to conduct a thorough review of any correspondent relationships, and assess how exposed their institution is to risk.

Read the full article in Compliance Week (registration may be required).