1. Purpose
This policy establishes guidelines for ensuring compliance with international sanctions, trade restrictions, and country-blocking measures applicable to Speak AI Inc. The objective is to prevent unauthorized transactions with sanctioned entities and individuals.
2. Scope
This policy applies to all Speak AI employees, contractors, and third-party vendors engaged in business operations, transactions, and service delivery.
3. Compliance Requirements
3.1 Screening & Due Diligence
Speak AI must conduct due diligence to ensure that business partners, customers, and vendors are not listed on applicable sanctions lists (e.g., OFAC, EU, UN, UK, Canada).
Automated screening tools should be utilized to identify restricted parties before engaging in business activities.
Ongoing monitoring of business relationships must be maintained to detect changes in sanction status.
3.2 Transaction Monitoring & Restrictions
Transactions with individuals, organizations, or countries subject to sanctions must be blocked and reported to the appropriate authorities.
Payments, financial transactions, and service access to sanctioned entities must be restricted or denied.
Employees must report any suspected violation of sanctions laws immediately to the compliance officer.
3.3 Training & Awareness
Employees handling international transactions, customer relationships, and financial matters must receive periodic training on sanctions regulations.
Regular updates and internal communications should be provided to keep staff informed of changes in sanctions policies.
3.4 Reporting & Compliance Enforcement
Any suspected violations of sanctions laws must be promptly reported to the compliance officer and legal team.
Speak AI must cooperate with regulatory authorities in the investigation of any potential breaches.
Disciplinary actions, including termination, may be taken against employees or vendors found in violation of this policy.
4. Compliance Audits & Reviews
Speak AI will conduct periodic internal audits to ensure adherence to sanctions compliance policies.
Compliance findings will be documented, and corrective actions will be implemented to address any identified gaps.
Speak AI’s compliance officer is responsible for maintaining up-to-date knowledge of sanctions regulations and updating this policy accordingly.
5. References & Supporting Documents
Speak AI Third-Party Security Policy: https://help.speakai.co/en/articles/9363522-third-party-security-policy
Speak AI Business Ethics and Corporate Compliance Policy
U.S. Department of the Treasury OFAC Sanctions List: https://home.treasury.gov/policy-issues/financial-sanctions/sanctions-programs-and-country-information
European Union Sanctions List: https://www.sanctionsmap.eu
6. Contact Information
For compliance concerns or policy clarifications, contact [email protected].
This policy is subject to periodic review and updates to align with regulatory changes and best practices.