Background:

Compliance with laws, regulations, and standards is of paramount importance. Failure to adhere to these requirements can expose financial institutions to significant risks, including financial penalties, reputation damage, and legal liabilities. To mitigate these risks and ensure the integrity of the banking sector, it is crucial for financial institutions to grasp comprehensive understanding of the risks of non-compliance, promote best practices in compliance functions and supervisory frameworks, and highlight the responsibilities of compliance functions in combating financial crimes such as money laundering and terrorism financing.

By understanding the risks associated with non-compliance, participants become more vigilant and are motivated to adhere to regulatory requirements. They develop a deeper understanding of the potential impact of their actions on the financial institution, its clients, and the overall stability of the financial system of the country. This increased awareness fosters a culture of compliance throughout the institution.

This training course focuses on the risks of non-compliance in banks, best practices of compliance function, understanding legislative and supervisory frameworks, combatting financial crimes, and implementing targeted financial sanctions. Participants will gain deep awareness of the best practices for establishing and maintaining an effective compliance function, understand the regulatory landscape, and enhance their understanding of their responsibilities in preventing financial crimes.