MENA FCCG Participates in GCFFC Inaugural Summit
MENA FCCG members participated in the Global Coalition to Fight Financial Crime (GCFFC) Summit that took place September 10 – 11, 2024 in Stockholm Sweden.
The Summit, themed “Accelerating Collaboration” brought together leading experts from the private, public, and NPO sectors. Keynote speakers included H.E. May bint Mohamed AlKhalifa, Chief Executive of the Bahrain’s Financial Intelligence National Centre and Vice-Chair of Egmont Group, as well as Ms. Elisa de Anda Madrazo, FATF President. Topics discussed included financial crime as a security threat, fraud scams, illegal wildlife trade, modern slavery/human trafficking, misuse of virtual assets, advancing beneficial ownership, information sharing including via Public Private Partnerships (PPPs), technology and innovations, balancing data privacy and fighting financial crime, and improving supervisory effectiveness.
Mr. Matossian chaired a panel on Combatting Trade Based Financial Crime (CTBFC). Session included MENA FCCG members Mr. Victor Matafonov and Mr. Nishanth Nottath. The session navigated the challenges associated with combating TBFC, most recent TBFC typologies, best practice risk mitigation measures, AI and advanced technologies, along with other developing trends in trade finance.
