NBFIRA AML/CFT WORKSHOP TO IFSC COMPANIES
The Authority in its continued effort of raising awareness on the Anti-Money Laundering & Countering the Financing of Terrorism & Proliferation (AML/CFTP) obligations to International Financial Services Centres (IFSCs), hosted a workshop from the 6th February to the 8th March 2019.
It was through the expertise of Mr. Arthur Kirsten, the managing director of Compliance Coach who was facilitating the workshop thereby taking the attendees through various disciplines that affect IFSCs in the AML/CFTP. The workshop emphasized the importance of IFSC’s conformity to the 7 pillars of Compliance and the operational measure for combating money laundering, terrorist financing and other related threats to the integrity of the local and international financial system, as per the Financial Action Task Force (FATF).
The IFSC's representatives were also practically engaged during the workshop where they brainstormed on possible money laundering scenarios via medical aid schemes and suggested how to best protect against money laundering & the financing of terrorism activities.
NBFIRA…Working Towards Financial Stability!!!
