E-learning regarding Sanctions Compliance

29.11.2022

Since Russia’s invasion of Ukraine, we regularly hear about Sanctions in the news. As these restrictive measures impact companies, IPCOM recently launched an e-learning to enhance awareness and ensure compliance.

Sanctions are legal limitations put in place by countries and international institutions, such as the United Nations and the European Union. The purpose of any sanction is to restrict dealings with certain countries, entities or individuals. These restrictive measures impact companies, who need to ensure compliance with these economic sanctions rules. Consequences for sanctions violations can be painfully high.

The IPCOM group is firmly committed to complying with Sanctions in all jurisdictions in which it operates. That is why IPCOM has a Sanctions Policy:

To set standards in order to enhance protection of IPCOM and its Personnel against any liability or reputational damage arising from a breach of any applicable Sanctions; and
To set out the procedures that must be followed to ensure compliance with Sanctions.

For each IPCOM entity the responsibility for the execution of the IPCOM Sanctions Policy is assigned to the Local Compliance Officer.

To create awareness of these regulations, the Company’s Policy and the responsibilities that come with it, IPCOM recently launched a Sanctions Compliance e-learning. This training will be offered to all Local Compliance Officers and an additional (limited) group of staff that is involved in the screening process of new products and Third Parties.

If you would have questions regarding this topic, you can reach out to your local management and/or the Local Compliance Officer.