Standard Chartered hosts its first Financial Crime Compliance Academy workshop in the Middle East

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Standard Chartered hosts its first Financial Crime Compliance Academy workshop in the Middle East

Complying with the successful launch of its Financial Criminal offense Conformity Academy previously this year, Requirement Chartered hosted its initial Financial Crime and Compliance (FCC) workshop for its economic institutional and also correspondent banking clients in the Middle East region. The occasion happened at 4 Seasons Jumeriah Dubai.

The workshop, which is part of a worldwide effort by the Bank throughout its impact, focuses on assisting customers take care of dangers in areas such as Customer Due Diligence, Anti-Money Laundering and Sanctions Compliance, as well as with each other, elevate monetary criminal activity conformity standards in the industry over time.

The one-and-a-half day workshop was specifically made for the heads of conformity of the financial institution's key clients where thorough training was performed across key conformity styles by Standard Chartered Bank's Financial Crime Compliance and also Transaction Banking Team. Offered the developing nature of the contributor banking company, conformity heads of the Bank visitors have actually come to be essential stakeholders in the general Financial Institutions partnership and also this effort aids the Bank to further take advantage of its partnerships.

Speaking at the opening session, Julian Wynter, Chief Executive Officer, Standard Chartered Bank UAE, stated: "One of the critical concerns for Standard Chartered Bank is to join as well as influence sector efforts in correspondent financial. We will continue to play an energetic part in combating monetary criminal activity, whilst showing quality solution for our customers".

The occasion was attended by almost 50 delegates from 12 countries throughout the area. These included senior conformity police officers of crucial reporter banking relationships of Standard Chartered.

During his opinions at the event, Mr. Lawrence Paramasivam, Director, Conduct of Business, Supervision, Dubai Financial Services Authority (DFSA) said: "Financial Crime prevention continuouslies be a high concern on the DFSA's governing schedule as it must be for all banks. While durable systems, controls and compliance procedures within an establishment are very important, to work at their ideal, they should be sustained by continuous training and also recognition campaigns. Using workshops, seminars and seminars to increase understanding, share experiences and also elevate the levels of compliance criteria is a good one and also motivated by the DFSA".

Because its creation, the Academy held 17 sessions throughout the financial institution's footprint, with over 1,000 participants from more than 400 client financial institutions in attendance.".