Kharon Holds Interactive Training Seminar In Singapore On North Korea Sanctions-Related Risk Management™
Risk Management Leaders from Across Asia Participated in an Interactive Capacity Building Workshop, Explored North Korea Case Studies to Strengthen Controls
LOS ANGELES and NEW YORK, Nov. 15, 2018 /PRNewswire/ -- On October 29, Kharon held a specialized capacity building seminar on North Korea United Nations sanctions-related risk for leading risk management executives in the Asia region.
Kharon is a first of its kind research and data analytics platform that provides financial services firms and other multinational institutions worldwide with the most comprehensive resource for understanding and managing sanctions-related risk.
About 50 participants from a range of financial services companies across Asia participated in the workshop, which used a case study-based approach to offer an enhanced awareness of North Korea's commercial activities that could negatively impact control frameworks, correspondent relationships, and brand. The session focused on the latest developments and best practices in UN sanctions compliance, with particular emphasis on managing North Korea sanctions-related risks and proliferation finance. Kharon convened the seminar in partnership with CRDF Global, an independent non-profit organization that promotes safety, security, and sustainability in the field of Chemical, Biological, Radiological, Nuclear, and Explosive materials (CRBNE) through international collaboration and capacity building.
North Korea's development of its UN-prohibited nuclear and ballistic missile programs has triggered international sanctions of unprecedented and growing depth and scope. The objective of the seminar was to help risk management leaders across Asia to better identify and manage complex risks presented by regulatory requirements and expectations for North Korea.
"Just because a financial institution does not do business with North Korea, it does not mean that institution doesn't face risk given the numerous evasion and deceptive tactics in which North Korea is engaged," said Howard Mendelsohn, Kharon Chief Client Officer and the lead expert who delivered the training. "Sanctions-related risk is complex and challenging, but well-informed industry-stakeholders understand the resources and the types of investigative and analytical tradecraft needed to identify this risk and make smart decisions."
The case studies and table top exercises featured in the seminar focused on the diverse ways North Korea sanctions-related risk can appear across various prohibited sectors, such as shipping, financial services, and trade. Participants discussed and bench marked with one another fundamental global standards and best practices to support their own compliance program requirements.
Kharon conducts investigative research and analysis on the networks, jurisdictions and activities targeted by global sanctions programs, focusing in particular on associated commercial relationships that present material risk considerations. Kharon is underpinned by its own proprietary technology platform that enables the discovery, analysis, structuring and publication of data and insights with efficiencies, complexity and scale previously unattainable.
Based in Arlington, Virginia with offices in Ukraine and Jordan, CRDF Global works with more than 40 countries in the Middle East, North Africa, Eurasia, and Asia with capacity-building programs on many of the most challenging topics and locations in the world.
For more information visit kharon.com, and follow Kharon at @KharonData.
SOURCE Kharon
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