This video will help you understand sanction compliance in AML i.e. what are sanctions, different types of sanctions, who impose economic sanctions, reasons for economic sanctions etc.

Sanctions are way to financially isolate a target i.e. country or regime. They may be imposed for a variety of reasons i.e. political. military, social issues etc. Normally, they are imposed to change the behavior of a country or regime, in-case where that country or regime is violating human rights, involved in terrorist activities or endangering international peace and security.
There are three types of Sanctions
1) Comprehensive
2) Sectoral
3) Targeted
Sanctions can be imposed by the UN security council, the European Union and individual countries i.e. United States OFAC Sanctions.

We have covered the basis definition of Sanction, Purpose of sanctions, types of sanctions, bodies imposing sanctions and sanction compliance for Financial institution.

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