Article
Are You “Sanctions Compliant”? What Every Business Must Know, Part 1/4
Did you know that contravening Canadian sanctions is a criminal offence? In fact, depending on the act violated, breaking sanctions can result in up to a $100,000 fine, up to 10 years imprisonment, asset freezes, or other financial penalties. Therefore, for businesses operating internationally or dealing with foreign counterparties, the question is not whether sanctions apply to your industry, but whether your current controls are sufficient to catch exposure before it becomes liability.
Canada
International