THE HMT SANCTIONS LIST & CUSTOMER IDENTIFICATION

HM Treasury maintains comprehensive records of all persons and entities currently subject to sanctions. This means that they face financial restrictions, usually on the basis of their links with terrorist activity or human rights abuse.

If you run a business, you need to make sure that you do not handle money or assets owned by sanctioned parties, or enter into an arrangement whereby you grant them access to funds. To do so is a criminal offence. In this course, you will learn how financial sanctions work and how to meet your duties under the law.

You Will Learn:

  • How financial sanctions work and the purpose and scope of the UK financial sanctions regime
  • The scope and purpose of the Consolidated List and the UK Investment Ban List
  • The parties responsible for maintaining these lists and how to use target and name matches to ensure that you do not engage in any transactions with individuals and entities named on the list
  • How to verify customers’ identity, and the information you should collect when undertaking transactions

Benefits of Taking This Course:

  • If you are a business owner, you will benefit from learning how to avoid conducting business with sanctioned parties
  • If you are responsible for financial transactions as part of your job, you will benefit from learning how to verify a customer’s identity and check whether they are currently facing sanctions
  • If you work in the financial sector, this course will provide you with a good introduction to sanctions
  • If you work in the public sector, you may benefit from furthering your understanding of how the Financial Conduct Authority (FCA), the Treasury and other bodies work together to combat crime


Course Modules/Lessons

Module 02: What is a Financial Sanction?

Module 03: Who is responsible for UK Financial Sanctions?

Module 04: Reporting

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FAQ's

  • Who can take the HMT Sanctions List Certification course?

    There are no entry requirements to take the course.

  • What is the structure of the course?

    The course is broken down into 3 individual modules. Each module takes between 20 and 90 minutes on average to study. Although students are free to spend as much or as little time as they feel necessary on each module.

  • Where / when can the course be studied?

    The course can be studied study at any time and from any internet connected device

  • Is there a test at the end of the course?

    Once you have completed all 3 modules there is a multiple choice test. The questions will be on a range of topics found within the 3 modules. The test, like the course, is online and can be taken a time and location of your choosing.

  • What is the pass mark for the final test?

    The pass mark for the test is 70%.

  • What happens if a user fails the test?

    If the user doesn’t pass the test first time they will get further opportunities to take the test again after extra study. There are no limits to the number of times a test can be taken.

  • How long does it take to complete the HMT Sanctions List Certification course?

    We estimate that the course will take about 0.75 hours to complete in total, plus an additional 30 minutes for the end of course test.