The dynamic nature of sanctions means there are frequent changes and updates ranging from newly sanctioned entities to or changes to embargoes and tariffs put in place. Accordingly, many new and evolving sanctions evasion attempts are ongoing. In our 5 ‘red flags’ article, we discussed a handful of the many tactics used to attempt to evade sanctions.
Due to the severity of the penalty that a violation can result in, companies must take proactive and protective measures to best protect themselves including a high level of awareness of evasion methods and tactics that are commonly deployed.