Banque Pour Le Commerce Exterieur Lao Public (BCEL) has held seminars on the topic of Anti-Money Laundering and Combating the Financing of Terrorists (AML/CFT)
since September 9 for all Northern and Southern branches, attended by 217 bank officers. The chairman of this seminar is Mr. Viengsouk Chounthavong, Deputy Managing Director of BCEL, who was specifically guiding AML/CFT tasks. The seminar will continue until the end of October 2023.
The purpose of this seminar is to carry out the core duties of the Asia/Pacific Group on Money Laundering (APG) and Anti-Money Laundering Intelligence Office (AMLIO) in the implementation of AML/CFT tasks to be stronger and more effective for both BCEL and banking institutions in general. This is an opportunity to raise and emphasize these crucial duties to a higher level of international standards, as well as to upgrade knowledge and understanding for employees by disseminating the latest policies and guidelines for the organization's execution of AML/CFT assignments. Moreover, distributing the new legislation will provide information for officials to deeply understand and be more concerned about both internal and external risks, including how to prevent and minimize the potential risks associated with money laundering and combating the financing of terrorists.
In addition, this seminar also provides a diverse case study of outstanding incidents related to financial crimes in Laos, neighbouring countries, and globally, which highlights relevant suspicious behaviours. followed by a question-and-answer session to exchange on-site experiences and lessons between branches to increase awareness of the operation of these important duties. At the same time, to strengthen personnel's understanding of AML/CFT, an understanding evaluation test is conducted. The seminar continued with an energetic atmosphere and fruitful results as a result of prior goal-setting. All feedback and recommendations from audiences at the end of seminars are collected and will be applied to improve future events to be more efficient and effective.
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