K2 Intelligence’s Tom Bock comments in the Law360 article “Changing Sanctions Policies Force Banks to Be Nimble” (3 Apr. 2015) on the need for banks to assign specific personnel to do in-depth reviews of transactions potentially tied to sanctions regimes, in addition to expensive computer systems they have put in place to meet anti-money laundering and Bank Secrecy Act requirements. “You use technology to identify a potential issue, but then you have the human element,” he said. “You have a seasoned analyst look at the transaction and then compare it to what the actual restriction is.”
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