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BE COMPLIANT • STAY COMPLIANT

With WIACON, you gain a partner who knows the challenges of regulatory compliance and the needs in a dynamic market. With our extensive knowledge and experience, we bridge any gaps between compliance, legal departments, keep top management informed and manage internal and external IT teams, ensuring smooth collaboration and integration of services. We don‘t support siloed approaches, we offer comprehensive advisory services that combine compliance expertise, legal advice, strategic advice and IT implementation. We enable your business in complying with regulations, optimising processes and driving growth. Your path to more success will be based on ‘being compliant and staying compliant’.

Alicia Buss · ESG Compliance Specialist

Magistra iuris, specialized in European and International Human Rights

Latest article: Schritt für Schritt zur ESG Leadership

Nasim Zargarinejad · Senior Legal Officer

Advanced LL.M. in International Dispute Settlement and Arbitration

Latest article: The Shadow of Sanctions on Contracts

Negin Ajam · Senior Legal Officer

Advanced LL.M. in European and International Human Rights Law

Latest article: Has the EU entered the era of extraterritorial sanctions?

Leila Hosseingholizadeh · Senior AML Consultant

MBA in European/Asian studies; MSc. In Business Administration

Latest article: Grey listed UAE: fair or unfair play!

Paolo Zucconi · Senior Risk Analyst

MSc. in International Security Studies

Latest article: COP28 in the UAE

Whitepaper

Getting started with sustainable corporate management

The complexity of sustainability is undeniable. Companies often can’t see the wood for the trees. In a time of staff shortages and growing mountains of tasks, it is all too understandable that a list of to-dos can only be managed by a dedicated ESG employee.

News on Environment, Social & Governance (ESG)

ESG in the crisis

The term “ESG” (Environment, Social, Governance) is currently on everyone’s lips. Sustainability or sustainable action, which places companies in particular under an obligation as important drivers for a more sustainable future, is nothing new.

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News on Economic & Financial Sanctions (CFT)

The Shadow of Sanctions on Contracts

A valid contract is binding upon the parties. This statement serves as the cornerstone of contract law worldwide. However, it does not imply that there are no situations in which parties can legally terminate, suspend, or refuse to fulfill their contractual obligations for legal reasons. Typically, these reasons can be anticipated ex-ante in applicable law or in the contract itself. How about newly introduced sanctions? Can they provide a green light for parties to refrain from undertaking their contractual obligations?

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Has the EU entered the era of extraterritorial sanctions?

With the recent adoption of the EU’s 13th sanctions package against Russia, we sought insights from our senior legal officers at Wiacon, Negin Ajam and Nasim Zargarinezhad.

The EU’s decision to sanction Chinese firms, among others, aims to disrupt the supply chain of vital drone components to Russia, especially given the ongoing conflict in Ukraine.

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News on Anti-Money Laundering (AML)

Confused man in suit looking at two similar doors

Overcompliance in Sanctions Compliance

The proliferation of unilateral and secondary sanctions has led to a concerning trend of overcompliance by businesses, particularly banks and financial institutions. Overcompliance refers to excessively restrictive practices that go beyond the requirements of sanctions regulations.

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Detection of money laundering through shell companies

A shell company is a registered legal entity that exists only on paper and has no significant assets or business activities. The shell company pretends to provide real business services in order to conceal illegal funds and its beneficial owner, launder money or avoid tax payments.

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Grey listed UAE: fair or unfair play!

In recent years, the United Arab Emirates has found itself at the forefront of international scrutiny following being grey listed by Financial Action Task Force (FATF). The UAE is known as a trade hub in the Gulf region and the country has appeared to be determined to uphold its reputation as a business center. In the following paragraphs, we aimed to explore the UAE´s grey listing case from various perspectives.

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Ransomware Financing

According to FATF Report in March 2023, ransomware incidents have grown significantly in recent years, both in number and scale. Additionally, the landscape of ransomware attacks has evolved, and attackers have adopted new techniques to increase the profitability of their endeavours and enhance the likelihood of successful attacks. These have led to a global concern on how to prevent and combat the threat.

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Shell vs. Shelf Companies

In the TV series ‘Blacklist,’ Red Reddington – a so called FBI most wanted fugitive who cooperates for hunting down other criminals – advised his contact agent: if you aim to decode the actions of criminals, THINK LIKE A CRIMINAL. This principle also applies to our line of work. To effectively combat crime, we must understand how criminals think and know the loopholes they might exploit. That’s why, at WIACON, we make it a priority to stay updated on everything happening in the realm of financial crime.

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COP28 in the UAE

Cop 28 is incoming. On November 30, 2023 the United Arab Emirates (UAE) will officially open the global summit on climate change in uncertain times. The war in the Ukraine, the new Palestinian-Israeli conflict and the tensions in the Pacific between the United States and China on Taiwan are shaping the international relations and the entire world.

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