Sanctions Regimes' Massive Impact On Legal Work

Published date19 May 2022
AuthorMs Bettina Knoetzl

Sanctions regimes around the world are having a massive impact on legal work. Worldwide assets amounting to many billions in euros, dollars or pounds including trophy assets such as a 90 million yacht in Mallorca, have been frozen on short notice.

ICC FraudNet, the top tier listed Fraud and Asset Recovery Network in which KNOETZL is the exclusive Austrian member, is presently gathering in Cyprus to leverage guidance available from members to international private practitioners and their clients. FraudNet's strategic partners, BDO, Drumcliff, Grant Thornton, Mintz, GreyList and others, are consolidating and enhancing their expertise on how to maneuver clients through these troubled waters - many of which are fomented by international reaction to the unfortunate aggression unleashed in Ukraine.

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