Middle East: AML Challenges in a Global, Evolving Regulatory Context

Presented by

Rocio Gray, Financial Crime Compliance Solutions Consultant & Nina Kerkez, MarketPlanning Director, LexisNexis Risk Solution

About this talk

LexisNexis® Risk Solutions continues to bring together our financial crime compliance professionals online for a series of webinars on relevant AML regulatory and compliance related topics and the impact these are having across all organizations worldwide. The Middle East is making sound improvements aimed to strengthen their response to AML-CFT risks. The region is witnessing an evolving regulatory landscape, which as a result is posing significant AML risk challenges. This is occurring at a time of further international cooperation which requires noteworthy efforts in their risk management processes and controls. Despite all the compliance efforts and investment, there are still numerous AML challenges that Middle Eastern organizations face. With a proximity to conflict zones, absence of robust regulatory frameworks in certain jurisdictions, increased cost associated with AML and tedious due diligence processes arising from the identification, screening and monitoring of entities risks, complications may arise. This session will cover: •An overview of governance risks across the region •The Middle East’s evolving AML-CFT regulatory and compliance space •The regional’s customer identification and screening challenges •The concept of beneficial ownership and its development across the region •Data privacy and data gathering challenges •Money laundering and terrorist financing challenges related to Islamic Finance

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LexisNexis Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We provide data and technology solutions for a wide range of industries including insurance, financial services, healthcare and government. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX Group (LSE: REL/NYSE: RELX), a global provider of information and analytics for professional and business customers across industries. RELX is a FTSE 100 company and is based in London. For more information, please visit www.risk.lexisnexis.com, and www.relx.com