In partnership with Financial Intelligence Authority (FIA), Standard Chartered Bank (SCB) on Wednesday brought together 100 banking industry stakeholders for a “Corresponding Banking Academy” workshop during which papers were presented aimed at enhancing industry players’ capability to detect and mitigate against potential cases of money laundering and counter-terror financing. Focus was also had on emerging regulations concerning financial crimes-related risks and need to adopt higher risk management standards as well as raising financial crimes compliance standards. This workshop was part of the efforts geared towards collaborative industry engagement initiative being championed by both FIA and SCB. SCB CEO Albert Saltson opened the workshop whereafter FIA ED Sydney Asubo delivered a key note address. Cecilia Muhwezi, who is SCB’ head of compliance, addressed participants on what it takes to ensure effective AML compliance program. Mary Runana discussed money laundering and the resultant sanctions in case a financial institution were to be found noncompliant. Mr. Gibbs Muloni, who is head FCC, tackled the elusive subject of counter-terrorism financing while Mr. Yannick Cherei discussed new payment technologies and associated risks. See more in pictures taken at the workshop that was held at Sheraton hotel. For comments, reach us on 0703164755.
