Trade sanctions risk assessment
Published by a LexisPSL Risk & Compliance expert

The following Risk & Compliance precedent provides comprehensive and up to date legal information covering:

  • Trade sanctions risk assessment

Trade sanctions risk assessment

    1. 1

      Introduction

      1. 1.1

        We have performed an organisation-wide assessment of the areas where we are most at risk of breaching trade sanctions and export controls.

      1. 1.2

        Our review included consideration of various factors, including:

        1. 1.2.1

          establishing which of our products/activities are subject to trade sanctions/export controls;

        1. 1.2.2

          our [customer OR client] profiles;

        1. 1.2.3

          our distribution channels;

        1. 1.2.4

          the type of [products AND/OR services] we offer;

        1. 1.2.5

          our operating environment;

        1. 1.2.6

          geographical risks, including sanctions regimes in other countries in which we operate.

    1. 2

      Establishing sanctions/controls status

      1. 2.1

        We have established which of our [products OR services] are subject to a sanctions or export restrictions by evaluating the nature of the [products OR services] and their destinations.

      1. 2.2

        We have produced guidance for staff to help establish sanctions/controls status for new [products OR services] or where we seek to operate in new geographical areas.

    1. 3

      Our [customer OR client] profiles

      1. 3.1

        It is difficult to categorise our [customers OR clients] as high or low risk due to the diverse nature of our [customer OR client]-base and the complicated nature of trade sanctions.

      1. 3.2

        The following factors are present in our [customer OR client]-base:

        1. 3.2.1

          our [customer OR client]-base comprises a range of different businesses conducting diverse activities;

        1. 3.2.2

          a significant section of our [customer OR client]-base is geographically located in [insert];

        1. 3.2.3

          some of our corporate [customers OR clients] have reasonably complex ownership structures;

        1. 3.2.4

          none of our [customers OR

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