The Eighth Annual Forum for Heads of AML/CFT COMPLIANCE UNITS IN ARAB BANKS & FINANCIAL INSTITUTIONS
The Eighth Annual Forum for Heads of AML / CFT COMPLIANCE UNITS IN ARAB BANKS & FINANCIAL INSTITUTIONS
4 - 5 October 2018 MOVENPICK hotel Beirut - Lebanon
BACKGROUND
Combating money laundering, the financing of terrorism and organized crime have been gaining much attention from all authorities and concerned parties in the world as a result of the increase of such cross-border operations, its diversity and ramifications while taking advantage of modern financial and information technologies and innovations in payment methods and banking services, which expose banks to considerable risks.
In face of this, regulatory, judicial and security authorities, in coordination with banks and financial institutions, are working on developing ways to counter these terrorist organizations and enhancing their response in line with the development of organized crime that can use FINTECH as a tool to pass their crimes. This has become a concern for all connected parties in the banking and financial sector in the world.
The Arab region has a large share of these organized crimes due to the conditions they are going through leading to the aggravation of unemployment, poverty, destitution and illiteracy among young people, which aids in the increase of crimes of money laundering and terrorism financing.
Stemming from the importance and urgency of this matter, the Union of Arab Banks is organizing its Eight Annual Forum, which has become a milestone thanks to the cooperation of the Special Investigation Commission in Lebanon, to examine the latest developments in combating money laundering and the financing of terrorism and how to deal with the challenges caused by this serious social issue. In addition to highlight Mutual Evaluation Round according to the MENAFATF, the changing dynamics in compliance and relationship with correspondent banking, evolving technologies and their implications on the world of compliance, sanctions risk tied to products, payment methods, and geography, General Data Protection Regulation (GDPR), and the owner of economic right according with the Circular No. 498 issued by Banque du Liban
OBJECTIVES
This forum aims at providing participants with the opportunity to exchange experiences and in-depth knowledge with experts and officials from regulatory bodies on all issues related to money laundering and the financing of terrorism and ways to combat them.
It will also discuss the role of FIUs and regulatory authorities in issuing directives and guidelines that help banks and financial institutions comply with international anti-money laundering and terrorist financing standards and how to deal with sanctions imposed on non-compliant banks.
WHO SHOULD ATTEND THIS FORUM?
Heads of Compliance Departments and their main assistants
Heads of Combating Financial Crimes Depts. (AML/CFT) and their main assistants
Heads of Internal Auditing Departments and their main assistants
Heads of Credit Departments and their main assistants
Main Topics:
Mutual Evaluation Round according to the MENAFATF
Collaboration between AML / CFT competent authorities
Evolving Compliance Landscape
- The changing dynamics in compliance and relationship with correspondent banking
The use of UN convention and the role of financial institutions in fighting corruption and
money laundering
SIC – Case studies on TF
CRS & BDL Circular number 498 on the Beneficial Owner
Evolving Technologies and their implications on the world of compliance.
- Innovation in AML/CFT control
- Digital finance and AML/CFT challenges
Data Integrity and its Impact on Compliance Quality
Sanctions risk tied to products, payment methods, and geography
Case Study: OFAC Enforcement against BNP-PARISBAS
General Data Protection Regulation (GDPR)