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KPMG forum set to probe money laundering trends and challenges

Bahrain Business
Fri, 02 Mar 2018


MANAMA: Audit, tax and advisory firm KPMG in Bahrain is hosting a seminar to shed light on the impact of money laundering related risks.

The half-day event will take place on Wednesday at the Downtown Rotana under the theme Anti-money laundering (AML): Trends and challenges in a digitalised world.

KPMG in Bahrain partner and head of risk consulting Jeyapriya Partiban said: “Money laundering is the process whereby criminals attempt to conceal the origin and ownership of proceeds generated from criminal activities.

“Rapid changes in technology are making financial crimes more sophisticated than ever and, if undetected, laundered cash can have a devastating impact on society and the overall economy.

“Financial institutions play a key role in detecting and combating money laundering by complying with the global and local AML regulatory frameworks and this event aims to support them in their efforts.”

Besides the impact of digital technologies on financial crimes, the event will also cover how banks and financial institutions can develop a tailored AML programme to mitigate risks associated with money laundering activities.

The seminar will feature a keynote presentation from KPMG UAE head of AML in the forensic practice Katerina Pagonim, who will explore industry best practices and KPMG’s methodology in approaching AML in today’s digitalised world.

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