Tagged: third party risk assessment

Assessing Third-Party Sanctions Risks (Part II of III)

The task of designing appropriate third-party sanctions controls requires reverse engineering of relevant caselaw, particularly, the Epsilon Electronics case, which I reviewed in Part I of this series, and the Department of Treasury’s Office of Foreign Asset Control (“OFAC”) sanctions regulations.  It is one thing to detect and prevent situations where a company actor has “actual knowledge” that a shipment to a third party is...