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
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.
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.
Who Should Attend
- Senior compliance & risk professionals from FIs
- External and internal legal counsel
- RegTech professionals and solution providers
- Consultants from top-tier consultancy firms
- Regulators and standard-setting bodies
- Discuss the latest sanctions and international policies
- Discover the latest RegTech solutions to manage risk
- Network with 200+ senior delegates
- Learn about compliance risks in M&A
- Discover how to regulate virtual- based assets
- Meet exhibitors and learn about the latest solution
(Wednesday) 8:00 am - 6:00 pm