An event on “Sanctions Screening: a practical perspective” was held on October 13 at the Journalists’ House in Nicosia, organized by the Cyprus chapter of the Association of Certified Anti-Money Laundering Specialists (Acams) and sponsored by Piraeus Bank Cyprus.
The keynote speaker was Mrs Samantha Sheen, Europe Director of Acams.
With over 100 professionals from banking and financial institutions, as well as Cyprus’ oversight authorities, in attendance, the event offered participants the opportunity to delve into the issue of international sanctions.
During a presentation, Mrs Samantha Sheen pointed out the significance of the organisations involved setting up an adequately-structured system of tracking transactions related to sanctions. She also particularly stressed the importance of education of individuals handling such tools toward the effective administration of relevant warnings.
The event was addressed by Acams Cyprus member and Piraeus Bank Compliance chief Christoforos Livadiotis, who reaffirmed the bank’s traditional commitment to staff education, particularly on issues of prevention of money-laundering and financing terrorism.
Piraeus Bank shows zero tolerance on the handling of such transaction, for the protection of both the bank and its clients.
The event was followed by a cocktail reception, where participants had the opportunity to exchange views on the issue.