Sky Capital recently conducted a compliance training for their staffs on Anti- Money Laundering and Countering Terrorist Financing (AML/CTF). The training was facilitated by Financial Institutions Training Centre (FITC) in our office.
The key objective of implementing anti-money laundering and counter-terrorist financing (AML/CFT) measures in financial institutions is to stop criminals and terrorists from abusing the financial system and ensure illicit financial flows aimed at funding terrorism and criminal acts can be traced and stopped.
The reason for the training is for staff to understand the need for a strong operational system that is protected from threats of terrorist financing and other financial flows aimed at sponsoring criminal activities in the country. The AML/CTF training will go a long way in equipping the staff with the ability to detect threats in the system.