Author: Nicola Sharp 6 July 2020
The Financial Action Task Force (FATF) is consulting on a new approach to assessing the risk of breaches, non-implementation or evasion of targeted financial sanctions on proliferation financing. This prompted Thomson Reuters’ Regulatory Intelligence to seek the thoughts of Rahman Ravelli’s Nicola Sharp.
Nicola said that, as the proposal placed the focus on the risks of proliferation financing, banks would need to pay close attention to such risks and have an in-depth understanding of them. She stressed the need for banks to be capable of altering their systems in response to the risks, with compliance teams having to ensure they are aware of all aspects of the problem and any signs of it.
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Nicola is known for her fraud, civil recovery, arbitration and business crime expertise, her experience of leading the largest financial disputes and multinational investigations and her skills in devising preventative measures and conducting internal investigations for corporates.