BankersAccuity focus on Money Laundering and Financial Terrorism in Russia
MOSCOW, April 9, 2013
MOSCOW, April 9, 2013 /PRNewswire/ --
*BankersAccuity to host event on 'Identification of PEP , compliance
monitoring and transaction efficiency'
*BankersAccuity to sponsor and attend the 11 ^th International AML/CFT
BankersAccuity , the global standard for payment efficiency and compliance
solutions, today announced they will host an event on 10 ^th April 2013,
looking at compliance trends and solutions for over 100 compliance officers,
whilst in Moscow for the 11 ^th 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.
About Reed Business Information:
Reed Business Information brings leading brands to an audience of millions of
decision makers worldwide through its multi- platform media of data services,
online lead generation services, community websites, magazines and events.
Contacts: Cognito Bryony Scragg/ Paul Bowhay Direct: +44(0)20-7426-9400
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