How to add predictive analytics into your risk program. Risk reports are often limited to historical insights and issues and do not provide guidance and insights into the future of the organization. Adding predictive analytics can allow your organization to detect emerging risks and create mitigation plans. This can be achieved by combining internal and external key risk indicators (KRIs) and key performance indicators (KPIs) with regulatory intelligence. This ensures that risk reports can detect more issues and highlight areas of concern. Click here to learn more.
Turkish ministries and officials sanctioned
The Treasury Department announced yesterday that OFAC has taken action against two Turkish ministries and three senior Turkish government officials in response to Turkey’s military operations in Syria. The Ministry of National Defence and the Ministry of Energy and Natural Resources, as well as the Minister of National Defence, Minister of Energy and Natural Resources, and the Minister of the Interior have been blocked. Persons that engage in certain transactions with the designated persons may themselves be exposed to designation. Furthermore, any foreign financial institution that knowingly facilitates any significant financial transactions for or on behalf of the persons designated today could be subject to U.S. correspondent or payable through account sanctions.
For identifying information on the designated ministries and officials, see BankersOnline's OFAC Update.