On Monday August 6, the US reimposed the first round of trade sanctions against Iran that had been suspended following the 2015 international nuclear agreement (Iran Deal). The sanctions officially ‘snapped back’ at one minute past midnight on Tuesday.
The reimposition of sanctions means Iran is prohibited from using US dollars in the global market. US trade in Iranian cars and Iranian metals are banned. Furthermore, permits allowing the import of everyday goods from Iran to the US, from Persian rugs to pistachios, have been revoked. Iranian companies can no longer even get a license to buy US-made commercial aircraft parts.
Last week, the Crown Prosecution Service published its first report into Modern day slavery following the introduction of the Modern Slavery Act in 2015. The report showed that there was a 27% increase in the number of suspects charged with slavery offences in 2017/18 compared with the previous year. Referrals of modern slavery allegations have also risen to their highest level and the number of prosecutions is on the increase too.
These are all positive signs that the Modern Slavery Act which was introduced in 2015 is beginning to have an effect on ending the scourge of people trafficking, domestic servitude and prostitution. However, a BBC programme, The Prosecutors: Modern Day Slavery, highlighted the ongoing difficulty of actually bringing the perpetrators of these crimes to justice. One of the reasons is the method of spotting and reporting incidents of slavery.
New interactive sanctions training
The Sanctions and Anti-Money Laundering Act 2018 will ensure the UK is able to implement international sanctions post-Brexit. To help organisations comply, VinciWorks has released a brand new scenario based training course, Sanctions: Know Your Transaction. Following the success of our anti-bribery and anti-money laundering training, this course drops users into a set of immersive scenarios to test their knowledge, understanding and ability to comply with new the sanctions law.
The #MeToo movement started off with a simple tweet on Sunday night, October 15th 2017, by activist and actress Alyssa Milano. Lying in bed next to her daughter, she saw a post by a friend online saying, “If all the women who have been sexually harassed or assaulted wrote ‘Me too’ as a status, we might give people a sense of the magnitude of the problem”. No one could have predicted the light a single match in the dark would create when Mrs. Milano tweeted it. By the time she awoke Monday morning the tweet had garnered over 30,000 replies and by Monday evening it had surpassed 53,000 comments, including stories from other celebrities, women and men alike.
Wednesday 5 September, 12pm UK time
The UK Parliament passed the Sanctions and Anti-Money Laundering Act in 2018 to get the UK sanctions regime ready for when the UK leaves the European Union. The number and type of businesses who are subject to UK sanctions rules have rapidly expanded, as have the penalties that can be given for those who breach the rules, from monetary penalties to criminal prosecution. In this webinar Director of Course Development Nick Henderson and Director of Best Practice Gary Yantin will be exploring the implications of the new law and give guidance on how to comply.
The webinar will cover
- The consolidated sanctions list and how to use it
- How to keep track of sanctions imposed on countries
- How Brexit affects sanctions regulations
- Dealing with a target match when using the consolidated sanctions list
- A short review on how to use the new Sanctions course
- Answering any questions you may have
A brief guide to avoiding bribery
Gifts and donations are often a part of business, whether it is cultural norms or celebrating a completed negotiation. However, there are certain instances in which it is important to be vigilant of the circumstances behind donations as they may be attempts to bribe. here is a short guide to spotting potential red flags and avoiding bribery.
Charitable or political donations can be viewed as attempts of bribery if there is something unusual about the inherent qualities or timing of the donation. Bribery is not always a mutual arrangement and it may not be known to the donee if there is a bribe occurring. When receiving gifts and donations it is important to be vigilant as some types may be seen as improper.
On 25 May 2018 the long-awaited GDPR came into force across the EU. On the same day, the UK’s Data Protection Act 2018 also became law. While the DPA 2018 incorporates large chunks of GDPR wholesale, it also carved out some specific exemptions that UK businesses need to know about.
In our webinar on understanding the Data Protection Act 2018, VinciWorks’ GDPR experts Nick Henderson and Gary Yantin explored the newly enacted DPA 2018 and the key differences and derogations from GDPR you need to know about. These include:
- The interconnected relationship between GDPR and the DPA
- The powers and role of the ICO
- How Brexit will affect data protection law
- Using automated decision making and customer profiling
- How to process criminal offence data in the UK
- The new criminal offences in the UK
Over the weeks leading up to the General Data Protection Regulation (GDPR) coming into force, VinciWorks has hosted a number of webinars on the topic, answering hundreds of questions in the process. You can get instant access to all our GDPR webinar recordings by clicking on the links below.
Understanding the Data Protection Act 2018
In our webinar on understanding the Data Protection Act 2018, VinciWorks’ GDPR experts Nick Henderson and Gary Yantin explored the newly enacted DPA 2018 and the key differences and derogations from GDPR you need to know about.
Full-day GDPR webinar
On 24 May, the day prior to GDPR coming into force, VinciWorks hosted a full-day webinar including live Q&As, interviews with GDPR experts and helpful advice on complying with the new regulation.
Watch full webcast
GDPR – Data Protection Impact Assessments
During this webinar, Nick guided listeners through the process of conducting a DPIA. He also answered questions on the topic of DPIAs and gave guidance on next steps to those who have already begun the process.
What is the consolidated sanctions list?
The consolidated list is a list of financial sanctions targets in the United Kingdom. If you are doing business with an individual or company associated with a person on this list, even if it is just a target match, you must report it to the Office of Financial Sanctions Implementation (OFSI). The guidance given in this blog has been taken from VinciWorks’ e-learning course on sanctions regulations.
What is a target match?
A target match occurs when the individual in question matches information that is included on the consolidated list. This means there is either a name match, close name match, similar date of birth, or other information that may lead you to conclude the individual and person on the list are the same. When in doubt, you can contact the OFSI for assistance.
Now that GDPR (General Data Protection Regulation) day has passed, the role of human resources officers within an organization has become even more significant. With the new regulations now in place, it is important for individuals working in HR to be aware of the new laws and standards in place for employee data protection in your area. VinciWorks’ guide to GDPR compliance for human resources staff will give you a clearer understanding and general knowledge of what is required.