Anti-Money Laundering Network International boss to raise the bar on counter money laundering skills as international security agencies fear that the ongoing war in Somalia, drug trafficking and sympathizers of terror groups have contributed to increased Money Laundering
16th Feb 2012- Nairobi, Kenya—
The International Anti Money Laundering Network will use the sixth annual AITEC Banking & Mobile Money COMESA conference in Nairobi to offer continuing professional bankers’ education (CPE) on new strategies to counter money launderers.
This is happening as the need for counter money laundering skills in the region grows, with international security agencies fearing that ongoing war in Somalia and the mushrooming of terror group sympathizers in the region have contributed to a dramatic increase in money laundering.
“We will hold an intense training for senior bankers on new counter money laundering tactics on 5-6 March in Nairobi preceding the annual AITEC banking conference,” said a communication signed by the Network’s International Executive Director Nigel Morris-Cotterill.
The training will update regional bankers on new counter-money laundering detection technologies and impart skills to help deterrence, prevention and apprehension of money launderers.
“We understand the integral role that banks and microfinance institutions play in the movement of money, and have agreed to the request by the Anti Money Laundering Network to host the training ahead of the main conference,” said Sean Moroney, Chairman of AITEC Africa, which organizes a series of popular continent-wide banking conferences.
The risk of crime posed by money laundering has been rising following political and military developments in the Horn of Africa.
The training will complement similar efforts by the UN Office on Drugs and Crime which has been involved in activities aimed at strengthening the capacities of these professionals in the region in combating money laundering and terrorism financing.
Mr Morris-Cotterill say the region had already made positive strides with the establishment of Councils for Interstate Security by such integration bodies like the East Africa Community and what needed to be done was “train and empower” bankers to aid in the fight.