Anti-Money Laundering Compliance Workshop for Non-Bank Financial Institutions (NBFI’s) (18-21 April 2011) Workshop
The workshop was an initiative by the Financial Intelligence Agency to sensitize the NBFI’s on anti-money laundering and combating of financial terrorism as well as their upcoming obligations called for by the Financial Intelligence Act, 2009. It was also aimed at sharing with the participants the international standards with regard to AML/CFT compliance issues for the different industries represented.
This workshop was organized and coordinated through a partnership between FIA, the Financial Institutions Regulatory Authority (NBFIRA) and US Treasury, Office of Technical Assistance (OTA). OTA fully sponsored the workshop and offered a resource person, Ms. Susan Berger.
The workshop was attended by participants from different industries/entities as follows:
- Pension Funds
- Capital Markets
During the four day interactive workshop, presentations were made on the following:
- What is Money Laundering and Terrorist financing?
- Money Laundering risks and red flags
- Update on Botswana’s AML efforts
- Update on NBFIRA oversight accomplishments on the Non- Bank Financial Sector
- Role of the Regulator
- Conducting AML Compliance Inspection
- Customer Due Diligence
- Detecting, Investigating and Reporting Suspicious Activity
The objective of the workshop was well accomplished.