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Archive -Seychelles

More training to boost capacity of financial services personnel |12 August 2014



People working in the financial services sector are following a two-day workshop to boost their capacity to better address the issue of money-laundering and counter terrorist financing.

The workshop taking place at the Doubletree Hilton Hotel, Anse Forban has been organised by the Centre for Legal and Business Studies based in Mauritius with the support of the Financial Services Authority (FSA).

It is bringing together personnel of the FSA, the Central Bank and the Ministry of Finance, Trade and Investment.

The training is being conducted by Mathew Beale, the director of Comsure Group -- a training solutions provider whose aim is to support and reinforce an organisation’s compliance function and framework. This function identifies, assesses, advises, monitors and reports on the organisation’s compliance risk.
The training session yesterday was launched by Finance, Trade and Investment Minister Pierre Laporte.

Addressing all those taking part in the training, Minister Laporte said it is proof of the importance the FSA and the government place on building the capacity of our people on the ground in the field of anti-money laundering and counter terrorist financing.

“Every employee, regardless of position within an organisation, has a role to fulfill in safeguarding the reputation of their firm and minimising the threats it faces. It is therefore crucial that professionals are fully trained and armed with the necessary skills and knowledge, particularly in areas of risk assessment, suspicious activity surveillance and customer due diligence,” Minister Laporte said.

Minister Laporte went on to stress that the risks all practitioners regulated under anti-money laundering rules face by not taking anti-money laundering due diligence seriously include both a compliance risk and a reputational risk for the firm itself and the jurisdiction.
“No one wants their firm’s name or any member of their staff’s name to be spread across newspapers because of prosecution for something like inadequate control,” Minister Laporte pointed out.

He called on everyone taking part in the training to gather as much knowledge as possible from these two days so they have the added tools to help them in their work.

For his part Mr Beale noted that the presence of the minister responsible for finance and the large number of organisations  taking part show the willingness of the highest authority as well as the different firms to jointly fight the scourge of money laundering and terrorist financing.
 

 

 

 

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