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Compliance, Financial Crimes and the Challenges of Correspondent Banking for Angola
Within the framework of its activity, the Associação Angolana de Bancos (ABANC - Angolan Banks Association), held at the Museu da Moeda Nacional (Museum of the National Currency), a Workshop under the theme "Compliance, Financial Crimes and the Challenges of Correspondent Banking Relationships for Angola ", intended for the Presidents of Banks, Administrators and Compliance Officers.
The event was attended by His Excellency, Dr. Valter Filipe Duarte da Silva, Governor of the Banco Nacional de Angola (BNA - Angolan National Bank), which delivered the opening speech, in which he stressed the importance of the workshop and praised the partnership that exists between BNA and ABANC. Senior officials meeting of the BNA on the matter , as well as Dr. Francisca de Brito, Director of the Unidade de Inteligência Financeira (UIF - Financial Intelligence Unit).
The speaker of the event, Dr. Shane Riedel, Head of Financial Crime Compliance for Financial Institutions and Correspondent Banking at Standard Chartered Bank, shared his experience focused on the theme of Compliance from the perspective of a Correspondent Bank, and his remarks aroused the general interest of the participants, which provided an excited debate in the end.
This workshop of great importance and depth on the subject of combating financial crimes and correspondent banking relationships, comes in the wake of the progress that the Angolan financial sector has done in recent times, which have been highlighted in the recent FATF visits to Angola, providing its removal from the list of countries subject to the specific and ongoing monitoring against money laundering.
In short, the meeting matched the expectations of the participants, to the extent that they have received new inputs that will serve as tools in the continuous improvement of processes and procedures, in the face of the challenges to protect the financial system against the crimes of money laundering and financing of terrorism.