Tuesday, 9 April 2024

One of Australia’s foremost sanctions risk management experts, Gail Carter, has joined advisory and investment firm KordaMentha to lead and expand the firm’s sanctions advisory offering.

Gail comes to KordaMentha as an Executive Director in the Financial Crime team. She has worked in numerous business, risk and compliance roles at Westpac, the last 12 years as a senior sanctions specialist advisor and practitioner where she played a lead role in the design and implementation of Westpac’s sanctions compliance programs and frameworks globally.

“Sanctions are impacted by changes in the geopolitical landscape,” said Financial Crime service line lead Rachel Waldren. “With the turbulence in Russia, Ukraine and Gaza, we are seeing increasing requests from clients seeking to understand their risks and how to manage them.

At KordaMentha Gail will help clients identify, understand, and implement solutions to manage their sanctions risks and compliance obligations.

Australian businesses have an obligation to comply with Australian sanctions in Australia and overseas. Depending on the nature of their business they may also have to comply with sanctions issued by other jurisdictions. “It can be complex.” Gail said “If businesses have exposure in multiple jurisdictions, they may be subject to various sanctions programs that are designed for different purposes and targets.”

Depending on the nature of activities, sanctions breaches may have a very significant impact on a business.

“It’s rare for businesses to have access to all the resources they need to understand and manage their exposures, to be able to assess the risks, and operationalise appropriate solutions. I’m looking forward to assisting with that challenge,” she said.