Sharjah Media City (Shams) hosts anti-money laundering workshop

Dr. Khalid Al Midfa: Shams is committed to join the local and international efforts in the fight against money laundering

  
Sharjah Media City (Shams) hosts anti-money laundering workshop

In an attempt to spread awareness on anti-money laundering laws and regulations

Sharjah: Sharjah Media City (Shams) organised a workshop on money laundering with the intention of introducing anti-money laundering policies to the Shams community. The workshop aimed to help investors and professionals understand the key guidelines, laws and regulations regarding money laundering- a process of disguising money obtained through illegal means and integrating it into the financial system while projecting it had come from legitimate sources. The workshop was organised at Shams headquarter in Sharjah, in collaboration with Traidnt Management Consultancy.

H.E. Dr. Khalid Omar Al Midfa, Chairman of Sharjah Media City (Shams), said “Shams is putting their best foot forward in trying to educate and raise awareness among members regarding polices required to be adopted to keep away from such illegal activities. Their effort also involves tying up with several local and international agencies that are constantly working towards eliminating the root cause of money laundering and other financial frauds.

Al Midfa added that money laundering is of great threat to the international financial and economic stability. He believes that individuals at all strategic and operational levels need to be trained on procedures to fight similar crimes and that such workshops serve as the ideal platform to educate them on all the technical know-hows.

Besides showcasing a detailed presentation on money laundering, the workshop touched upon the close connection between money laundering and corruption. Participants were also provided with a detailed insight into how systems that lack accountability and transparency are at a higher risk of being victims of money laundering and corruption.

-Ends-

Sharjah Media City (Shams) is world-class media hub for innovative facilities and services. Shams offers over 120 business activities to choose from and provides the flexibility to combine different activities on the same license. Licenses issued by Shams allow companies to operate the business activities in accordance with their license and offers facilities, flexible legal framework, general and logistic services to investors. Shams provides unique services to investors from across the world and high level of innovative services in a safe and vibrant ecosystem for entrepreneurs to set up their business.

© Press Release 2019

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.

More From Press Releases