Basseterre, St. Kitts, October 20, 2015 (SKNIS): Financial stakeholders in St. Kitts and Nevis will explore risk and the importance of developing and implementing a risk assessment model for their institution at a one-day seminar on Wednesday (October 21).
This is the focus of the Financial Services Regulatory Commission - St. Kitts Branch’s (FSRC) 2nd annual Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) seminar scheduled for the St. Kitts Marriott Resort. The theme of the meeting is “Recognize, Identify, Scrutinize, Know: What is my Exposure?”
More than one hundred participants from financial institutions have registered to attend. Presentations will include: a summary of the Caribbean Financial Action Task Force (CFATF) 3rd Round Mutual Evaluation: St. Kitts and Nevis; Assessor’s Experience of the CFATF 4th Round of Mutual Evaluations; the Role of the White Collar Crime Unit and Financial Investigations, Common Deficiencies Identified in AML/CFT Compliance Programmes and Private Sector Risk Assessment.
Director of the local FSRC, Kerstin Petty, said regulated entities, which include banks, insurance companies, credit unions and similar agencies, will be sensitized on the important role of the FSRC in ensuring that they comply with relevant money laundering and anti-terrorist financing legislation.
“Last year was very successful,” Ms. Petty stated. “We introduced the preparations for the 2018 Mutual Evaluation. We had a high level of success and this is a follow up seminar to continue these preparations.”
The CFATF Mutual Evaluation is scheduled for the fourth quarter of 2018.
Prime Minister and Minister of Finance, Dr. the Honourable Timothy Harris, is expected to deliver feature remarks at the opening of the AML/CFT Seminar.
*************************
DISCLAIMER
This article was posted in its entirety as received by SKNVibes.com. This media house does not correct any spelling or grammatical error within press releases and commentaries. The views expressed therein are not necessarily those of SKNVibes.com, its sponsors or advertisers
