, Kuala Lumpur Malaysia (PressExposure) July 11, 2008 -- The Financial Crime Forum in conjunction with The Chief Officers' Network announce the holding of "Sanctions in Action," an international Forum / Seminar for businesses in all sectors of trade and financial services. The Forum will be held in Kuala Lumpur on 30 - 31 October 2008.
Sanctions affect all businesses, but very few know it.
Any business trading with a party who is subject to sanctions can be prosecuted, either in its own country or abroad and even find that its assets including cash in its bank can be frozen by a peremptory process by its own or a foreign government.
Sanctions are politically motivated and used as an instrument of foreign policy or trade related, largely for protectionist reasons.
Sanctions are created by supra-national bodies such as the United Nations and the European Union or by national governments - including your own.
If a person breaches sanctions applicable to him, he faces jail and / or a fine. If a company breaches sanctions, it faces large fines and prosecution for its officers.
Sanctions can include travel restrictions on members of governments and those connected with them, blocks on dealing with entities with close links to governments and even restrictions on the nature or or volume of trade that residents of one country are permitted to do with another.
And if you bust sanctions, it is highly likely that your bankers are under a duty to report you to authorities - often not even in your own country.
In short, the question of sanctions is mission-critical for businesses of all types.
Sanctions in Action will provide businesses from all over the world with the opportunity to hear from representatives of sanctions-making bodies such as The US State Department and the European Union, from some of those affected by sanctions such as Iran and from businesses for which compliance with sanctions law is part of their normal business activity such as international banks.
Experts will be on hand to answer your specific sanctions questions in short pre-arranged meetings.
Notes for editors:
Telephone: +6 03 2078 9152 Fax: +6 03 2078 9151
The Financial Crime Forum and The Chief Officers' Network are establishments of The Anti Money Laundering Network (www.antimoneylaundering.net) which is an international group of companies.
The Group's global response centre is in Kuala Lumpur.
e-mail contact via the Group website at http://www.antimoneylaundering.net