Vital AML/CFT Training
Frontline Consult Concludes Vital AML/CFT Training: Equipping Financial Experts for Global Challenges
Yesterday marked the culmination of a comprehensive training program on Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) hosted by Frontline Consult. Attended by an array of professionals of the financial sectors, this intensive session aimed to provide participants with better understanding of how AML and CFT work.
The training was held at the Hotel Intourist Palace in Sangeet Chowk, Itahari, bringing together diverse professionals from various financial sectors. Facilitated by Ms.Karta Shrestha, from bank operation department of Nepal Rastra Bank, the day-long program established deep into the nuances of AML/CFT frameworks, laws, and their practical applications in the global financial milieu.
Mastery Journey: From Beginners Guide to Expert Techniques for Vital AML/CFT Training
Vital AML/CFT Training provided a comprehensive and detailed understanding of the laws and regulations that are in place to prevent money laundering and terrorism financing in Nepal. Participants were given a broad overview of the different aspects of AML/CFT compliance, including the legal framework, the role of regulatory bodies, and the specific measures that financial institutions are required to implement.
The program emphasized the seriousness of non-compliance and the potential consequences for financial institutions that fail to adhere to these regulations. It highlighted the reputational risks, financial penalties, and legal consequences that banks and other financial institutions may face if they do not implement robust AML/CFT measures.
At the same time, the program also emphasized the importance of AML/CFT compliance in helping banks to grow and expand their operations. By aligning compliance measures with business growth, banks can not only protect their customers and maintain their reputation but also create new opportunities for growth and expansion.
“Aligning AML/CFT with Business Growth,” “Leveraging AML/CFT for Business Expansion,” and “Efficient Resource Utilization” were among the key focal points, demonstrating the program’s commitment to aligning compliance measures with operational expansion.
Conclusion
The sessions were really hands-on and fun, using lots of different activities like brainstorming, studying real-life examples, and having discussions. This made learning interesting and interactive for everyone.
The program was applauded for its emphasis on practical implications, offering participants an array of techniques and strategies to assess risks effectively, concentrate efforts on high-risk areas, and streamline AML/CFT procedures.
Frontline Consult remains committed to fostering a robust financial environment, continually providing cutting-edge programs. Frontline has always been in forefront with initiatives to enhance professionals’ capabilities in mitigating risks associated with money laundering and terrorist financing.
For further inquiries about upcoming programs and initiatives, interested individuals can reach out to Frontline Consult via phone at +977 1 5707271 or through email at training@frontline.com.np.
