CMA hosts workshop on anti-money laundering, terror-financing

Muscat: The Capital Market Authority (CMA) organised a workshop titled 'Highlights on Anti-Money Laundering and Combating Financing Terrorism' for insurance brokers targeting the employees acting as compliance officers of insurance brokers.

The workshop acquainted the participants with the applications related to insurance brokers and the role of the Financial Action Task Force (FATA) as well as the decisions of the CMA on the implementation of the Anti-Money Laundering and Combating Financing Terrorism Law.

The workshop discussed the level of risks focusing on the risks of life insurance and the due diligence measures beside keeping records of information, immediate reporting and provision of information, risk assessment report and implementation of anti-money laundering and combating financing terrorism policies, directives and procedures.

The workshop was heldd in continuation of the endeavours to enhance the anti-money laundering and combating financing terrorism efforts in the sectors regulated by the CMA and as part of the companies’ attentiveness to the importance of training the employees on this matter.

It is worth note the workshop is part of a series of programmes and workshops related to anti-money laundering and combating financing terrorism within the plan of the Anti-Money Laundering and Combating Financing Terrorism Department this year to complete the awareness campaigns of last year as a set of workshops were executed beside many awareness events.