Summit reviews fight against financial crime
DUBAI: The Foreign Exchange and Remitance Group (FERG) hosted its 11th Annual Financial Crime Summit for Money Exchanges in the UAE. Industry experts, regulators and law enforcement agencies discussed the latest trends and best practices in the fight against financial crime at the exclusive event which was held on Thursday in Dubai.
The panel discussions and presentations highlighted pressing industry priorities, challenges faced bylawenforcementagenciesworldwideandutilising emerging technologies to combat financial crime. Key topics covered included anti-money laundering (AML), fraud prevention, compliance culture, the
UAE’S regulatory landscape for financial institutions, and innovative fintech business models for exchange houses.
The event provided an opportunity for Money Exchangestohearfromindustryleadersandexperts on the latest trends and best practices in financial crimeprevention.thesummitfeatureddistinguished speakers,includingmr.osamaalrahma-fergadvisor to the Board and several other industry leaders.
Mohamedaliansari,chairmanoffergsaid:“we are pleased with the positive outcome of this year’s Financial Crime Summit. The insighful discussions and knowledge exchanges among industry leaders, regulators,andlawenforcementagencieshavebeen both valuable and productive. In the ever-changing landscape of financial crime, staying informed about the latest trends and threats is crucial. The annual financial crime summit organized by FERG offersawonderfulopportunityforcollaborationand knowledge sharing among key stakeholders. We sincerely thank our partners and sponsors for their valuable support, which contributed significantly to the success of this year’s event.”
Atendeesgainedacomprehensiveunderstanding of the latest regulatory initiatives in the UAE, explored the opportunities associated with fintech models in the exchange house sector, and delved into the current challenges surrounding compliance culture. A presentation provided insights into money launderingfromtheperspectiveoflawenforcement agencies.