DOHA: Pricewaterhouse-Coopers (PwC) yesterday hosted the first of its ‘PwC Series’ events on anti-money laundering, with particular focus on recent changes to the QFC Regulatory Authority’s (QFCRA) AML/CFT rules.
The event was attended by representatives from regulated institutions in Qatar, who had the opportunity to hear directly from the head of AML and financial crime at the QFCRA, Stephen Evans, on the nature of these changes.
The event was hosted by Tania Fabiani, PwC’s Middle East leader for Fraud, Integrity and Compliance Risk Assurance; James Tebbs, Director and leader of PwC’s Forensic Services practice in Qatar, and Anna Sokolowska.
James Tebbs said: “We are very pleased to host this event and to have input directly from Stephen. This provides a great opportunity for regulated institutions to hear directly from the QFCRA on these changes to the AML/CFT rules and to understand the impact they may have on firms’ own AML and KYC processes. We will be continuing the PwC Series with similar events in the near future.”
Stephen Evans said: “The recent QFC Regulatory Authority AML/CFT rule changes reinforce and refine the current AML/CFT framework by promoting compliance with the revised FATF international standards and by taking account of experience to date with the implementation of the 2010 rules.
“The key changes incorporated minor and technical amendments to the rules arising as a result of revisions to FATF standards and recommendations, amendments applicable to all firms in regard to the residency requirement for Money Laundering Reporting Officers and a revised regime for General Insurance business firms contained in a new stand-alone rulebook.”
The Peninsula
