Will my foreign exchange transaction be impacted by sanctions?
Sanctions are measures used by governments and international organisations to support national security interests and/or advance foreign policy objectives. The requirements of different sanctions regimes will often vary depending on the government or body administering them.
Sanctions measures commonly include:
- Financial restrictions
- Asset freezes
How could you be affected?
We strive to make all foreign exchange transactions as requested, however some may not be processed due to international sanctions and will require further due diligence.
Completing the required sanctions due diligence may result in extended process times for some transactions for our customers.
Any transactions that are prohibited by sanctions will not be processed by ASB, nor will transactions be processed where ASB is unable to obtain sufficient information to confirm that the transaction does not contravene applicable sanctions.
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