QFMA holds workshop on money laundering

October 18, 2020

Qatar Financial Markets Authority (QFMA), in cooperation with Qatar Association of Certified Public Accountants (QCPA), organised a training workshop on ‘Money Laundering & Terrorism Financing Risks Assessment Related to Financial Products and Services’.
The workshop was held online and discussed advanced topics and issues in anti-money laundering for employees of QFMA and shareholding companies.
During the workshop, the speakers covered three main topics, the first being on promoting compliance with local laws and international legislation, and discussing the assessment of risks related to products, their types, their risks, and the financial services, as well the policies, measures, and procedures of ongoing due diligence for high-risk customers.
As for the second topic, the development of the concept of AML / CFT management, it addressed risk assessment from the banking and regulatory point of view, customer risks and jurisdiction risks, and precautionary measures when dealing with high-risk customers and high-risk countries.
The third topic discussed the procedures of correspondent banks in assessing the risks of financial products services, as it dealt with strengthening the regulatory frameworks, mitigating the risks related to correspondent banks.

qatar-tribune


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