Tuesday 5, April 2016

Dubai – MENA Herald: EastNets, a leading global provider of compliance, payments and cloud solutions for the financial services industry, is holding a conference today (April 5th 2016) for exchange houses in the UAE to help them in their regulatory compliance and risk management in light of stringent regulatory measures seeking to ensure strict adherence to anti-money laundering (AML) regulations.
AML experts and heads of concerned organizations will discuss critical issues facing financial institutions and exchange houses operating in the country during the one-day session on April 5, 2016 at the Shangri-La Hotel in Dubai.
The conference which is taking place under the theme ‘Changes, Challenges & Technology – Regulatory Compliance for Exchange Houses’ in cooperation with the Foreign Exchange & Remittance Group (FERG), is serving as an ideal platform for members of the financial services industry – exchange houses in particular – to share their success stories as well as tackle common, modern-day challenges.
Additionally, it will provide an opportunity for like-minded peers to exchange information on best AML practices, day-to-day compliance procedures, effective preventive methods and key precautionary measures, and state-of-the-art technologies to better address compliance concerns.
Hazem Mulhim, CEO, EastNets, said: “There are numerous difficult challenges facing all financial institutions today, hence the need for all stakeholders to come together to introduce fool-proof solutions to these issues. Global money laundering transactions are growing and the industry must respond swiftly and precisely to effectively counter these criminal activities.”
“Education is a fundamental aspect of our efforts. Through our seminar which was held today in Dubai, we aimed to not only provide a venue for industry stakeholders to exchange knowledge and expertise but, more importantly, educate and empower exchange houses in the UAE as well. The seminar featured key topics and agendas that are of utmost importance, with our guest speakers discussing the latest measures, emerging trends, and new industry developments. The participants also learned about the best ways to stay compliant with AML regulations through the aid of cutting-edge technological innovations available in the market today. Aside from our state-of-the-art AML solutions, this event was aligned with our commitment to support the financial services industry in stopping money laundering activities,” added Mulhim.
For more than 31 years, EastNets has been a provider of leading and SWIFT-certified compliance and payments solutions and services to over 1000 customers across the globe. The company offers regulatory compliance solutions for AML, KYC (Know your Customer), Watch List Filtering, Sanctions Screening, US Foreign Account Tax Compliance Act (FATCA) Compliance, Regulatory Reporting and Duplicate Message Detection, along with a wide range of professional services.