Seychelles apt to offer offshore financial centre |02 May 2007
They said the programme was organised as part of Siba’s ongoing efforts to raise staff’s skills capacity which they said was “important in sustaining this growth by constantly acquiring and developing the country’s professional workforce with the right skills that will allow them to effectively detect any fraudulent or suspicious activities.
The workshop was organised in collaboration with the Seychelles Institute of Management, and was held at the International Conference Centre.
This is the second year running that the course is organised and it is expected that Siba will run similar programmes as part of its educational activities to continually train and provide practitioners with latest skills and knowledge.
The training was facilitated by Paul Leary, the director for compliance advisory services at BakerPlatt, which is a legal professional services firm, based in UK, specialised in offering advice in financial services regulation, compliance, money laundering prevention and asset tracing.
Its financial intelligence unit (FIU) also made a presentation during the seminar.
The course was designed to equip participants with the knowledge and skills required to objectively assess the adequacy of their organisations’ risk management controls systems with an appreciation of understanding the impact that these risks may have onto a firm or onto a country’s reputation.
The course was particularly relevant for practitioners involved in the financial services industry and was highlighted by real life case studies to help participants gain an insight as to how money launders could effectively make use of legitimate corporate structures to “clean” their money and fund criminal activities.
The course was attended by over 40 participants from various sectors and they included bankers, lawyers and members of the judiciary, accountants, auditors, business advisors, offshore corporate service providers, polytechnic accountancy students and representatives from the regulatory authorities such as Siba.