Swiss regtech company Indigita SA is further extending its range of e-Learning solutions with a new training on the topic of Swiss and international sanctions, developed in collaboration with leading regulatory knowledge provider BRP Bizzozero & Partners SA. The online course provides employees of banks operating in Switzerland with essential knowledge on how to deal with national and international sanctions in the context of Swiss financial regulation.
It is crucial for financial institutions to know the impact of sanctions on their business and client relationships in order to mitigate criminal, regulatory and reputational risks. Indigita’s new e-Learning course provides employees of Swiss banks with the essential knowledge on the legal basis of sanctions. The content of the online training is based on BRP Bizzozero & Partner’s leading financial regulations knowledge.
The course mainly outlines the Swiss sanctions regime. In addition, it gives an overview of how Swiss banks are impacted by sanctions issued by the United Nations, the European Union and the United States. It defines key terms and explains the different nature and types of sanctions, possible reasons for sanctions as well as the contexts in which they are typically applied. Participants will learn about the different target groups for sanctions, including individuals, legal entities, states and countries. In addition, the training covers the potential risks and legal impact for financial institutions in case the Swiss sanctions regime is violated.
The course has been designed to address the needs of financial professionals working in compliance, risk and legal, as well as front office roles. The training requires 30 minutes to be completed and features a final assessment to test participants’ learning progress. As with all of Indigita’s e-Learning solutions, the course is combining theoretical foundations with practical application to offer an engaging learning experience.
Indigita CEO Achille Deodato said: “National and international sanctions can directly impact the business of Swiss financial institutions and the work of their employees. Therefore, a thorough understanding of different sanctions regimes, starting with the Swiss one, is crucial to ensure safe and compliant day-to-day business operations and client interactions, and to consider the effect of sanctions for strategic planning.”
Chairman of BRP’s Board of Directors Alessandro Bizzozero said: “Contrary to anti-money laundering (AML) regulations, which are based on a risk approach, sanctions regimes are based on a zero-tolerance approach. Therefore, any violation of the sanctions regime can trigger significant issues. Solid knowledge of the sanctions regime is the first line of defence to avoid such consequences.“
The new course on international sanctions represents a further addition to Indigita’s wide range of e-Learning solutions and is available as of now in English.