Clifford Chance

Asia Pacific Puts Sanctions Due Diligence to the Test

26 July 2016

The Iran Joint Comprehensive Plan of Action (JCPOA) is opening new commercial opportunities while underscoring the importance of due diligence in the context of economic sanctions. This should be a familiar topic to companies doing business in Asia, where Myanmar and North Korea pose similar challenges owing to the large number of specially designated nationals (SDNs) and the presence of front companies operating on behalf of SDNs. Knowing and verifying the identity of commercial counterparties is essential to managing this risk on a proactive footing.

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