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Strengthening AML regulations across the world

Posted on by aldopuch

Money Laundering laws strengthened in Bahrain

Money Laundering regulations in Bahrain have been strengthened following the signing of a Royal Decree by Sheikh Hamad bin Isa Al Khalifa.  In an amendment to the Money Laundering and Counter Terrorism regulations, security services have been given extended powers to co-ordinate with other countries in cracking down on money laundering.  Tougher penalties are also incorporated within the amended legislation.

..and  Nepal also takes action on AML

The Government of Nepal has prepared draft AML legislation which includes procedures for listing and delisting terrorist organisations and persons.  Those listed will have all of their property and assets frozen apart from minimal living expenses.  The draft legislation also provides guidelines for AML and terrorist cases in which foreign governments seek legal assistance from the Nepalese authorities.

West African countries strengthen AML vigilance

Meanwhile in West Africa the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA) has been working on strengthening the capacity of member states towards the prevention and control of money laundering and terrorist financing in the region.

In Nigeria itself the Federal Government has started an assessment of financial institutions which is aimed at determining the threats and vulnerabilities of Nigeria to money laundering and terrorism financing.

If you want to learn more about the latest trends and best practices in Anti Money Laundering you can attend a Eureka Financial AML – Anti-Money Laundering course in Dubai which provides guidance on identifying and controlling risks associated with money laundering and terrorist financing.

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Eureka Financial offers over 100 public and in-house training courses in banking and finance, corporate finance and M&A, risk management, operations, investments, wealth management, soft skills and management. For more details visit: www.eurekafinancial.com

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