Overview

Russia's invasion of Ukraine has upended not just the global economy, but also correspondent relationships globally, as Russia's large banks were correspondents for many smaller banks in neighboring countries, including NATO allies Latvia, Estonia and Lithuania. As smaller countries struggle to regain access to the banking system, they must also contend with a new threat from Russia's sanctions evasion - the use of shelf companies.

Our panel of experts, which includes a bank CEO that is focused on mitigating this risk, will explain what shelf companies are, how they can used to facilitate financial crime, and how financial institutions can incorporate technology to identify shelf companies to reduce risk. The panel will also present a case study and provide practical takeaways on improving financial institution practices to detect shelf companies.