FINANCIAL CRIME OUTLOOK
Between 2008 and 2018, financial institutions paid over $26 billion in fines due to malpractice and gross negligence that led to money laundering, terrorist financing, and sanctions breaches globally. As we approach the next decade, regulators are adopting less tolerant approaches toward violations as evidenced by heftier penalty sums imposed on institutions that fail to put in place adequate controls that mitigate the threat of financial crime.
For the MENA region, weaker anti-money laundering controls have largely contributed to such penalties. Although most Arab countries still find themselves on watch lists published by notable policy setting bodies such as the Financial Action Task Force (FATF), the region has shown promise of improvement with the recent inclusion of Saudi Arabia as the first Arab state to become a member of FATF.
ABOUT THE SYMPOSIUM
In its first edition, ‘MENA FinCrime Symposium’ will bring together thought leaders and subject matter experts in financial crime compliance to understand the deeper issues and consequences of regulatory non-compliance.
The conference will facilitate discussions on: outcomes from Mutual Evaluation Reports (MERs) issued by the FATF, uncertainty on the reimposition of Iranian sanctions, understanding the significance of the amended EU blocking regulations, the role of technology in regulating risk, best-practices for regulating virtual-based assets, and many more topics vital to preserving the integrity of the financial system. Join us this October and stay abreast of the latest developments as we help you focus on the most pressing issues moving into 2020.
Join Sempro and the Association of Certified Financial Crime Specialists, in partnership with LexisNexis, this October and stay abreast of the latest developments as we help you focus on the most pressing issues moving into 2020.
For details and registration, please visit: https://www.fincrimesymposium.com/#
- MENA FinCrime Symposium
08:00 - 17:00