FIMBank to organise International Compliance Conference

15.05.2014

FIMBank has always played an active role in the training of its correspondent bankers, and in line with this approach, it is currently finalising the programme for this year’s international conference, which will be held in Malta between the 3rd and 6th June. Over 25 delegates from financial institutions forming part of FIMBank’s network of correspondent banks in Africa, Europe, Asia, the Middle East and the Americas are expected to attend the conference. The focus of this year’s event will be compliance and financial crime, and will see local and international speakers delving into the nature of financial crime, including the various types of money laundering, terrorist financing and fraud risks.

This conference aims to give delegates a broad overview of compliance and the types of financial crimes that are prevalent in the finance industry in general, with particular emphasis on Trade Based Money Laundering. A broad overview of the US Foreign Account Tax Compliance Act (FATCA) will be provided. Besides providing delegates with a good understanding of how money laundering works, the course aims to equip these with the knowledge and a better understanding of the skills required to combat money laundering, terrorist financing and fraud.

Commenting on the conference programme, Michael Davis, Chief Operating Officer at FIMBank, stated that “We have developed a programme targeted at providing conference delegates with a broad overview of how banks can protect themselves against financial loss arising out of fraud and money laundering, as well as reputational damage due to regulatory action undertaken for failing to have proper systems in place.” Referring to the choice of theme for the conference, he explained that  “Money laundering damages the reputation of individual financial institutions as well as the credibility of the financial sector as a whole, which itself has a critical role in economic growth. The conference focus will be on the controls that financial institutions should have in place in order to mitigate these risks.”

FIMBank President Margrith Lütschg-Emmenegger stated that “The Bank’s success is solidly based on building and maintaining strong interpersonal relationships, and our training programmes and conferences help to consolidate the strong relationships we have with our correspondent banks.”

For further information about the ‘Compliance and Financial Crime conference’ please contact FIMBank on +356 21322100 or email fi@fimbank.com.

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