MOSCOW, April 9, 2013 /PRNewswire/ --
- BankersAccuity to host event on 'Identification of PEP, compliance monitoring and transaction efficiency'
- BankersAccuity to sponsor and attend the 11th International AML/CFT Conference
BankersAccuity, the global standard for payment efficiency and compliance solutions, today announced they will host an event on 10th April 2013, looking at compliance trends and solutions for over 100 compliance officers, whilst in Moscow for the 11th International AML/CFT Conference. Taking place on Thursday 11 April 2013, the International AML/CFT Conference will be hosted by Association of Russian Banks, Federal Financial Monitoring Service and the Bank of Russia.
The Russian Federation recently presented to State Duma, a Draft Law on Combating Illegal Financial Transactions (Draft Law № 196666-6). With anti-money laundering (AML) and counter terrorist financing (CFT) high on the government agenda, the International AML/CFT Conference will evaluate current provisions alongside the new proposals, the newly revised FATF 40 Recommendations, best practice policy implementation of AML/CFT in Russian and foreign banks and develop a unified position of the banking industry on the newly implemented taxation law, FATCA.
A sponsor of the conference, Hugh Jones, President and CEO, BankersAccuity, will host a presentation on 'Global trends in AML/CFT, their impact on Russia and the implications for Russian banks'.
"Synonymous with Dmitry Medvedev's legacy National Anti-Corruption Plan, Draft Law № 196666-6, is a clear example of how the Russian Federation is confronting the country's reputation for corruption as it clamps down on illicit financial activity", comments Jones. "However, achieving and maintaining compliance won't be easy as organisations globally face increased risk and greater challenges in an era of enhanced regulatory scrutiny, increased fines and the ongoing internationalisation of AML regulation. Draft Law № 196666-6 will require enhanced cooperation between Russian banks and government agencies in order to be fully effective and meet its objectives."
Notes to the Editors
Owned by one of the world's leading business to business publishers, Reed Business Information and part of Reed Elsevier, BankersAccuity sets the global standard for payment efficiency and compliance solutions. It includes Bankers Almanac and Accuity, premier data services that have been providing solutions to banks and businesses worldwide for over 140 years.
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SOURCE BankersAccuity and Reed Business Information