In a two-day training event held on November 20-21, EDDWISE, the dynamic consulting services provider, brought together high-profile speakers to delve into the intricacies of international sanctions risk management. The event aimed to foster knowledge exchange and the sharing of practical experiences to attain maximum compliance with international sanctions.
Distinguished figures graced the stage as main speakers during the comprehensive training sessions. Notable among them were David Charlton, the Director of Pop & Co. UK, Jean-Paul Duvivier from Ferrari & Associates, Francesco Giumelli, a Professor at the University of Groningen, and Noemi Klein, an expert in the fight against financial crime. Guiding the discussions was Professor Thomas Biersteker of the Geneva Institute, a leading international expert on sanctions, who served as the event’s moderator.
The training delved into the nuances of sanctions risk management, encompassing discussions on existing sanctions regimes, evasion schemes, and the critical importance of adherence.
A statement by EDDWISE said:
” One of the main goals of EDDWISE is to ensure maximum support for both financial and non-financial sectors in this critical area, so they can operate and adapt to a fast-changing environment. EDDWISE provides consulting services to help the combating of financial crime, including both anti-money laundering and combating the financing of terrorism (AML/CFT). Services offered by EDDWISE include the conducting gap of analyses of policies and procedures related to anti-financial crime, as well as support in the introduction and enhancement of essential supporting technologies, and the delivery of targeted training courses.
Sanctions risk management training also fits well with one of the company’s core purposes: to increase the level of knowledge about international anti-financial crime standards. This means disseminating information about sanctions imposed by the Office of Foreign Assets Control (OFAC) of the US Treasury Department, as well as sanctions imposed by the United Nations, the European Union or the United Kingdom, as well as discussing practical examples and effectively managing the risk associated with these sanctions regimes.
The issue of sanctions has always been an important topic. However, because of the political and economic turbulence of the last couple of years, its importance has become even more apparent, and EDDWISE considered it essential to respond to this. The two-day detailed training on sanctions risk management was led by invited experts who have many years of experience in the field, including in OFAC, the UN, and foreign financial institutions. It should be noted that EDDWISE will carry out similar initiatives in the future, the company plans to hold at least two trainings per year, which will deal with issues of combating financial crimes.
Here, on behalf of the company, we would like to thank FSVC, whose active support was essential in the organization of the training. Also, we thank the invited expert speakers, guests and participants. We would like to especially thank the Acting President of the National Bank of Georgia, Ms. Natia Turnava, for attending the training, for her support of this initiative and for emphasizing the importance, to the Georgian financial sector in particular, and to the country in general, of adherence to international sanctions.”
By Mariam Gorkhelashvili
