Insurers active in Asia and Eastern Europe will be interested in this latest compliance move;
The European Bank for Reconstruction and Development (EBRD) and the Association of Certified Anti-Money Laundering Specialists, or ACAMS, have joined forces to safeguard the banking and trade-finance sectors in eastern Europe, the Caucasus and Central Asia.
Research shows that many banks in the EBRD’s Trade Facilitation Programme find it increasingly difficult to obtain trade-finance facilities from foreign commercial banks, due in part to anti-financial crime (AFC) compliance hurdles and costs.
To address this, the partners have launched the ACAMS Eurasia Chapter to support compliance professionals in Armenia, Azerbaijan, Georgia, Kazakhstan, the Kyrgyz Republic, Moldova and Ukraine. The chapter will serve as a platform for networking, collaborative initiatives, training and the sharing of knowledge and best practices to address regional risks and regulatory concerns. It will complement other professional education and peer networking efforts for compliance professionals in the region.