European Chapter of the MENA Financial Crime Compliance Group holds Fifth Meeting
On March 16th, 2023, the European Chapter of the MENA Financial Crime Compliance Group (MENA FCCG) held Members’ fifth meeting to discuss latest developments in financial crime and share ideas on how best to upgrade combating financial crime capabilities. Issues addressed during the virtual meeting included the significance of organizational culture in harnessing control frameworks including as it relates to combating financial crimes and lessons learnt from recent regulatory actions in the UK and Europe. Members also discussed the evolving sanctions landscape where Themis Services, the Chapter’s strategic alliance gave an update on Russian sanctions while providing insights on common causes of AML regulatory breaches. The meeting also discussed planned meetings with regulators and law enforcement agencies during 2023.
The Europe Chapter was created in November 2021 to lead and coordinate the efforts of Middle East banks in fighting financial crime in Europe. The London Arab Bankers Association acts as the Strategic Partner, and the Chapter has entered a Strategic Alliance with Themis Services, the financial crime specialist.
