CIN restates commitment to fight against money laundering, terrorist financing
• Inducts 242 members
The Compliance Institute of Nigeria (CIN) has restated its commitment to the implementation of Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) as preventive measures in the financial services sector.
The move, the institute said, was pertinent following the global compliance landscape that is constantly evolving due to the dynamic nature of financial crimes, emerging money laundering and terrorist financing (ML/TF) threats, advancement in technology, and the changing international standards.
President, CIN, Pattison Boleigha, said this ahead of the institute’s fourth annual virtual induction ceremony and yearly general meeting holding on December 5, 2020, where the Director-General, Corporate Affairs Commission (CAC), Garba Abubakar, the keynote speaker will examine ‘Overview of the Companies and Allied Matters Act 2020’.
He said with the global compliance landscape, especially the FATF standards/methodology and progressive enforcement by authorities, there is the need for compliance professionals on combating crime, money-laundering and terrorist financing.
Boleigha said the yearly meeting, which will hold virtually, after the induction of 242 members, would set a tone for significant developments on sanctions, new trends in sanction evasion, cryptocurrency and compliance challenges.
He added that it would also proffer solutions on the post-COVID-19 business challenges.
Chairman, Education and Training, CIN, Isioma Gogo-Anazodo added that with the fresh crop of inductees, Nigeria would be adequately equipped to scale up in anti-money laundering/combating the financing of terrorism.