Barbados

BARBADOS: Financial Crime Prevention Symposium Shares Anti-Money Laundering Expertise.


By added on 03/06/2019

As published on apnews.com, Friday 31st May, 2019.

 

Five months after launching a chapter in Barbados to serve as an anti-money laundering (AML) hub in the Caribbean, ACAMS has organized a symposium addressing key issues and trends in AML compliance and financial crime prevention to support financial professionals in the region. Today’s event will be attended by representatives of both private and public sectors from the Caribbean.

The Honourable Ronald Toppin M.P., Minister of International Business and Industry, Barbados (Photo: Business Wire)

The one-day interactive symposium led by ACAMS subject matter experts Rick McDonell, former executive secretary of the Financial Action Task Force (FATF) and executive director of ACAMS, and Kieran Beer, chief analyst and director of editorial content of ACAMS, will include topics timely to international financial services professionals:

  • Regulatory Update: The FATF Mutual Evaluation and Ongoing Compliance Expectations
  • Keeping Current: Staying Ahead on Sanctions
  • Best Practices for Obtaining and Maintaining Correspondent Banking Relationships
  • Managing the AML Risks of New Payment Systems Including FinTech and Cryptocurrencies

Barbados is a member of the Caribbean Financial Action Task Force, the regional FATF group, whose purpose is to conduct assessments of the effectiveness of the regime in member countries for anti-money laundering and combatting the financing of terrorism (AML/CFT).

“This symposium will provide a practical opportunity to share best practices on what constitutes a robust and compliant anti-money laundering and counter-terrorist financing system, and the symposium’s highly respected speakers will address those issues,” said Rick McDonell. During his tenure at the FATF, McDonell helped develop the standardized country assessment methodology which is now used to assess all 195 member jurisdictions of the FATF global network.

“It’s valuable for financial crime professionals to stay up-to-date on compliance requirements and regulatory updates in order to combat emerging threats in the region,” said Rohit Sharma, president and managing director of ACAMS. “ACAMS has a significant presence in the region and is committed to supporting a culture of compliance in the Caribbean through partnerships, training and knowledge sharing.”

ACAMS is a member of Adtalem Global Education (NYSE: ATGE), a global education provider headquartered in the United States. ACAMS is the largest international membership organization dedicated to enhancing the knowledge and skills of anti-money laundering (AML) and financial crime professionals from a wide range of industries. Its CAMS certification is the most widely recognized AML certification among compliance professionals worldwide. Visit acams.org for more information.

The purpose of Adtalem Global Education is to empower students to achieve their goals, find success, and make inspiring contributions to our global community. Adtalem Global Education Inc. (NYSE: ATGE; member S&P MidCap 400 Index) is a leading global education provider and the parent organization of Adtalem Educacional do Brasil (IBMEC, Damásio and Wyden institutions), American University of the Caribbean School of Medicine, Association of Certified Anti-Money Laundering Specialists, Becker Professional Education, Chamberlain University, EduPristine, Ross University School of Medicine and Ross University School of Veterinary Medicine.