Navigating Sanctions on Oligarchs and How Companies are Adapting

In an Interview with Bloomberg TV, Guidehouse Inc. explores the impact of US sanctions on financial institutions

This past April the White House imposed sanctions against a group of oligarchs with links to Russian President, Vladimir Putin. In an interview with Bloomberg TV, Ellen Zimiles, Managing Director and Financial Services Advisory and Compliance Segment Leader at Guidehouse, discussed how financial services firms can navigate the complexities around a sanctioned oligarch.

“It’s all very complicated and it is a big area of cost and concern for financial services clients,” said Zimiles.

With a large focus on using technology to aid sanctions compliance, Zimiles agreed that it does help for firms to have software that helps them analyze large amounts of transactional data. “There’s a lot of focus now on using Machine Intelligence to try to do some of that work and that’s a big area of growth now both on the money laundering side and the sanctions area, as well as even in anti-bribery and corruption.”

However, Zimiles pointed out that firms cannot automate every aspect of compliance, stating, “wherever there’s real judgment involved, you can’t automate.” Ellen's interview starts just past 17 minute mark in the video.

Ellen Zimiles, Blomberg TV



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