Better Intelligence Podcast

A growing number of stakeholders are using ESG to assess risks related to sustainability, human rights, and governance issues associated with business partners. Sarah Carpenter of Assent Compliance talks with PSA about how ESG can be leveraged by risk management programs to achieve a comprehensive view of sometimes hidden risks, particularly in the human rights domain.  

#duediligence #hrdd #humanrights #supplychainduediligence #ESG

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Asset recovery in international fraud cases can present considerable challenges and risks. After building a case and pursuing recoveries across diverse jurisdictions, victims may still recover only pennies on the dollar. In this episode, Martin Kenney of Martin Kenney & Co. shares his unparalleled insights into creating layered strategies and managing multidisciplinary efforts to improve outcomes in cross-border fraud recovery investigations. Martin talks with PSA’s Michael Olver about pursuing non-traditional asset recovery strategies—expanding investigations to identify potentially liable institutional actors in jurisdictions where substantial recovery is more feasible. Along the way he discusses strategic decisionmaking, risk management, and navigating the sometimes conflicting imperatives presented by civil versus common law jurisdictions.

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SAMLA, the Sanctions and Anti-Money Laundering Act of 2018, represents the United Kingdom’s establishment of an independent sanctions policy in preparation for Brexit at the end of 2020. The legislation’s sanctions provisions are now in force and the UK Foreign Office has already designated several sanctioned parties. While these initially sanctioned parties have been carefully limited to those who have participated in unambiguous and high-level violations of human rights, the new regime shows the potential to become more expansive both in terms of the scope of targeted persons and the possible secondary effects for businesses around the world. PSA’s Michael Olver spoke with Adam Wolstenholme of Simmons and Simmons about the impact of these sanctions on the global compliance environment. Adam provides insights into how SAMLA may fit into Whitehall’s newly independent approach to regulating UK-connected transactions and highlights some potentially unanticipated risks for businesses arising from the new regime.

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The United States’ Caesar Syria Civilian Protection Act came into force in June, expanding the existing sanctions regime against the Assad regime. The legislation highlights oil and gas and construction sectors as potential targets and opens the door to expanded sanctions on third country nationals engaging with Damascus. PSA CEO Michael Olver spoke with Andrew Jacobson of Seward & Kissel LLP to learn more about the implications of this act and how it fits into existing sanctions enforcement practices. Andrew and Michael discuss the growing reach of sanctions enforcement indicated by the act as well as appropriate due diligence responses to mitigate the risks of inadvertent violations. All along Andrew provides valuable insights into US sanctions enforcement and the sometimes unexpected risks sanctioned entities present to businesses worldwide.

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