Sanctions-Compliance

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Sanctions compliance – more relevant than ever

Importance of sanctions compliance

An increasingly complex geopolitical situation worldwide is leading to a steadily rising number of sanctions from various sanctioning bodies. Some of these sanctions conflict with each other or with the anti-boycott regulations applicable to economic agents. Especially since Russia’s war of aggression against Ukraine, companies engaged in foreign trade have been faced with a host of regulations that need to be managed.

We believe that effective anti-financial crime compliance must prioritise the prevention of sanction violations in addition to combating money laundering and terrorist financing in order to protect companies, executive bodies, employees and business partners effectively from legal and reputational risks.

To avoid risks, you need to know your business partners

It is only by knowing who you are really doing business with that you can avoid breaching prohibitions under sanctions law, even if banned individuals are supported only indirectly and/or unintentionally.

We can assist you in finding out who your business partner is, whether sanctioned persons are involved in the business relationship, whether any of your business partner’s shareholders are sanctioned, and whether there are other relevant contacts with sanctioned individuals.

We minimise your risk by providing practical, real-world advice

We examine possible breaches of applicable sanctions law and help you to identify and avoid potential risks early on.

In particular, our portfolio of services also includes assessing liability risks under foreign trade law from the viewpoint of criminal law and the law on administrative fines, especially if sanctions or boycott bans are breached.

Please get in touch with us at any time if you need advice.

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17/09/2024

15th AML-Experts'-"Breakfast"

CMS‘ AML-Experts’-„Breakfast“ is a longstanding and established event. To accommodate an audience interested in German and international AML-news residing in different time zones, we are hosting the online-event at a later time on this day. As always, we will present current developments in the field of money laundering prevention, with a focus on German perspectives, upcoming regulation and regulatory practice relevant for Germany. The virtual participation is possible from every compatible computer or mobile device. The event is free of charge and is designed for financial services and non-financial services companies subject to AML legislation. If you require a certificate of attendance that meets the requirements of the supervisory authorities, we are happy to accommodate this at a small contribution towards expenses. Please do not hesitate to contact us.

Event Webinar

22/05/2024

E-learning | Introduction to Data Protection

This e-learning course covers the basics of data protection law based on the GDPR. It is aimed at all persons who come into contact with personal data in the course of their professional activities and provides a good overview of the most important data protection principles and requirements. Thanks to numerous animations and illustrative practical examples, it enables participants to quickly become familiar with the topic. The aim of the e-learning course is to raise awareness of the lawful handling of personal data in all areas of the company and to enable employees to respond appropriately to data protection incidents and other situations.

Publication

18/03/2024

E-learning | Contact with competitors – basic competition law rules

Our e-learning course on dealing with competitors provides our clients with a sound basis for training their employees. This e-learning course guides through the correct conduct under competition law when in contact with competitors.

Publication

18/03/2024

E-learning | Protection of reporting persons using a whistleblower system

The EU’s Whistleblower Directive (2019/1937) was transposed into national law in Germany by the Whistleblower Protection Act (Hinweisgeberschutzgesetz, HinSchG). The Whistleblower Protection Act came into effect on 2 July 2023. We have developed an e-learning course for your employees that answers the essential legal and organisational questions relating to the whistleblower protection provided by having a reporting system in place. The course also explains how a whistleblowing system works and encourages staff to report potential issues internally rather than contacting the relevant external reporting office.

Publication

18/03/2024

E-learning | Open source compliance – basics

This e-learning course teaches the basics of open source compliance. The aim of the course is to raise awareness of the advantages as well as the risks and pitfalls of open source software in all these levels of the company. At the end of the course, solutions to identify risks and avoid them as best as possible through appropriate processes are shown. The e-learning course is aimed at everyone in companies who comes into contact with open source software. This includes not only management but also the IT and development department, purchasing, sales and product management.

Publication

18/03/2024

E-learning | Money laundering prevention in industry and trade

This e-learning course was developed specifically for employees and suppliers. It is intended to raise awareness of what must be observed legally to successfully prevent money laundering. As the addressees of the Anti-Money Laundering Act (Geldwäschegesetz, GwG), companies are obliged to take precautions against their own abuse for money laundering purposes or financing terrorists. The e-learning course takes into account the special position of goods traders in money laundering prevention and can be individually supplemented and modified with regard to the specific risk exposure (especially business activities with high-risk countries, dealing with deviating payers or conspicuous drop shipments).

Publication

18/03/2024

E-learning | Open source compliance for software developers

This e-learning course has been specially designed for software developers. Its purpose is to raise awareness of what needs to be considered from a legal viewpoint when software developers use open source software.

Publication

18/03/2024

E-Learning | Preventing corruption – basics and practical tips

In a business context, benefits such as gifts and invitations are mainly intended to promote and maintain business relationships. However, using excessive benefits to influence business decisions is not allowed. There is often uncertainty about what is "allowed" and what is "banned" in the business world. Our basic training on corruption prevention educates your employees and provides practical guidance for everyday business that complies with legal requirements.

Publication

06/03/2024

ARD Conference of Committee Chairs draws up framework compliance policy...

Munich – The committee chairs of German broadcaster ARD have agreed on a framework policy for members of supervisory bodies. This specifies in more detail the requirements under the relevant interstate treaties and establishes the basis for a common compliance culture across the individual broadcasting councils and administration councils. The policy includes standards of conduct for committee members and rules on dealing with possible conflicts of interest. For greater transparency, members of ARD supervisory bodies are also urged to share information on the Internet about their other roles before and during membership of broadcasting councils and administration councils. The onus is now on the broadcasting councils and administration councils of the ARD stations to implement the recommendations of the ARD Conference of Committee Chairs. They also need to check on a case-by-case basis whether additions need to be made as a result of existing statutory regulations or aspects specific to the particular committee.A CMS team including Dr Harald Potinecke and Laura Posch advised the Conference of Committee Chairs and a working party comprising committee members of all stations on all legal aspects of developing the framework compliance policy. Contacts at CMS Germany Dr Harald Potinecke, Partner Laura Posch, Senior Associate, both CompliancePress Contact presse@cms-hs. com

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