3 Days program on AML/CFT ended today. (27/11/19 to 29/11/19). The participants were from Druk PNB Bank Ltd. (Money laundering (ML) and financing of terrorism (FT) have been one of the major risks facing many countries. Financial institutions across the world are tasked to help mitigate these risks as many criminals tend to misuse them to achieve their objectives of laundering money or funding terrorism. The Financial Action Task Force (FATF) requires its member countries to implement its recommendations and it is very essential for the member countries to ensure compliance with the recommendations. Financial industry regulators such as Royal Monetary Authority of Bhutan (RMA) have laid down regulations to be complied with by the banks. Failure to comply with the FATF recommendations have various ramifications. Hence, it becomes essential for the banking professionals to have a sound knowledge of AML-CFT and related regulations and putting the risk mitigation measures in practice. Hence, considering the situation, the course presented was designed to help employees of Druk PNB Bank Ltd., to develop such knowledge, skill and techniques that can lead them to tackle this regime systematically, effectively and efficiently, from policy level to operations.
