Register
Login
‘AML-CFT Awareness 2022 High Level Seminar’ by AYA Bank on Money Laundering and Financing of Terrorism
Posted on October 29, 2022
On October 29th, 2022, Compliance Department of AYA Bank in collaboration with the Learning & Developement Department conducted AML-CFT Awareness 2022 High Level Seminar for the Bank's BOD members, Senior Management, HODs and Division Heads via online. Subject matter experts from the Central Bank of Myanmar, Financial Intelligence Unit (FIU) and the Bureau of Special Investigation (BSI) were invited for high level discussions.
At the opening speech, AYA Bank's Executive Chairperson Daw Khin Saw Oo said,
- Due to the challenges and risks encountered in the banking industry, the Bank must be able to manage risks effectively to improve its business on one hand and achieve a sound & stable financial standing on the other hand.
- In regard to internal control, it is important to hold seminars and workshops for Board Members, Senior Management and Managers to improve their AML- CFT Awareness.
- This seminar is conducted to increase knowledge on AML-CFT and learn how to apply, so that the attendees are encouraged to learn with respect and apply in practice.
Next, U Aung Kyaw Than, Director of Monetary Policy Affairs and Financial Institutions Regulation Department, The Central Bank of Myanmar, gave a presentation on the topic of ‘The Role of Bank's Senior Management in AML/CFT Preventive Measures’. He shared knowledge on anti-money laundering and discussed on practices to be complied by the BOD and Senior Management, HOD.
U Zaw Moe, Director of Financial Institutions Supervision (FISD) Department, The Central Bank of Myanmar, discussed on risk management measurements practised by The Central Bank of Myanmar, rating scores obtained for offsite and onsite inspection of AML Risk and mitigation points.
Under the title of Financial Action Task Force-FATF and Myanmar "Challenges and Opportunities", Colonel U Myint Soe from FIU spoke about the current situation in Myanmar, recommended actions to be taken and cooperation required from the banks. In addition, U Thurin Aung, the Deputy Director of BSI, gave a lecture on ‘Preventive Measures’ and ‘Countering the Financing of Proliferation’.
In conclusion, U Than Zaw, the Vice Chairman of AYA Bank, Chairman of the Board Risk and Compliance Committee, expressed his gratitude on behalf of the Bank to the experts who gave lectures on the subject for the seminar today, and the seminar was adjourned.