|03 November, 2019

Saudi Arabia to host seminar aimed at fighting financial crime

Event will provide a platform for the exchange of ideas and information between the Kingdom’s business leaders, financial institutions and local regulatory professionals

RIYADH: Saudi Arabia is to host a major international conference aimed at combating global financial crime.

Financial technology firm Refinitiv announced the inauguration of the 11th Compliance and Anti-Money Laundering Seminar to be held in Riyadh on Nov. 4.

The gathering of top regional and international regulatory and governance, risk and compliance experts is being staged in association with the Financial Academy and under the auspices of Ahmed Al-Kholifey, governor of the Saudi Arabian Monetary Authority (SAMA) and chairman of the Anti-Money Laundering Permanent Committee (AMLPC).

The event will provide a platform for the exchange of ideas and information between the Kingdom’s business leaders, financial institutions and local regulatory professionals.

According to Refinitiv’s 2019 MENA financial crime report, Middle Eastern markets have seen an increase in technology investment to assist with compliance burden.

The report noted a rise in personal liability and growth of anti-bribery and corruption regulation. In the five years of the study, the number of respondents with an existing anti-money laundering program have been consistently high, averaging 79 percent.

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