…Even so, compliance officers can find the information helpful, said Howard Mendelsohn, a former acting assistant secretary of Treasury for intelligence and analysis. “It is usually helpful for [Treasury] to include as much identifying information as possible to support compliance efforts,” said Mr. Mendelsohn, now managing director of the Camstoll Group, a consultancy that helps companies identify and manage sanctions risks.Read More
Camstoll in the News
…As such, many financial institutions have increased their financial crime risk management to meet higher regulatory expectations and to protect against an increasingly dynamic threat matrix, said Howard Mendelsohn, managing director of The Camstoll Group, a firm that advises companies on identifying and managing sanctions-related risk. “From the introduction of new sectoral sanctions programs to elevated expectations around know-your-customer compliance and beneficial ownership, smart sustainable approaches will continue to be needed to limit the risk of regulatory and enforcement trouble,” he said.Read More
Analysis of Iran-related sanctions risk after President Donald Trump‘s decision not to recertify the nuclear deal is here. (Camstoll)Read More
…Howard Mendelsohn, former acting assistant secretary for the Treasury Department’s Office of Intelligence and Analysis, and managing director of The Camstoll Group, told CBS News that the designation of the Revolutionary Guard will not change much for the U.S. financial system since it was previously sanctioned for its involvement in human rights abuses and Iran’s ballistic missile program.
“The Revolutionary Guard (IRGC) continues to maintain a significant domestic commercial presence in Iran and operates an extensive global network of fronts and affiliates to help it evade sanctions,” Mendelsohn said. “It’s important for financial institutions and businesses to understand that network in order to better manage sanctions-related risk.”Read More
…While implementation of the latest law remains unclear, notes an update from the Camstoll Group, a consulting firm primarily run by former U.S. officials, the “increasingly complex sanctions environment reinforces the need for financial institutions and multinational corporations to continually assess their exposure to sanctions-related risks.”Read More