The complex techniques some individuals and organizations employ to avoid sanctions regulations issued by the Office of Foreign Assets Control (OFAC) often make headlines. Although criminals intentionally evade sanctions, financial institutions (FIs) may unintentionally facilitate sanctions evasion—resulting in not only financial and reputational risk, but...

For decades, the world has been plagued by criminal enterprises, such as drugs, human trafficking organizations and terrorism. In the beginning, these bad actors were able to bypass security measures with ease. Over time, the financial sector has been able to curtail some activities,...