KOSOVO BANKING ASSOCIATION CONCLUDED THE FIRST AML/CFT REGIONAL CONFERENCE 2022
30 September 2022, Prishtinë
Wider engagement in regional cooperation and communication between financial institutions and regulators connects and empowers us to increase our capacities to prevent illicit financial flows that otherwise could endanger the stability of the financial ecosystem which is essential for banks to operate successfully.
In light with such assessment and with the aim of strengthening further our financial systems stability, KBA AML Committee, with the support of local banks, has organized the AML/CFT Kosovo Regional Conference 2022 which is first of its kind.
The conference was opened with welcome remarks from Petrit Balija CEO of Kosovo Banking Association followed by opening remarks of Albert Lumezi - Chairman of the Kosovo Banking Association Board of Directors and President of Management Board at NLB Bank and keynote presentation on transformation of AML Compliance in the age of digital banking and artificial intelligence from Alban Hetemi - Chairman of AML Committee at Kosovo Banking Association and Manager of AML and Sanctions Control Department at TEB Bank.
The participants in the conference included representatives of local banks in Kosovo, Central Bank of the Republic of Kosovo, Financial Intelligence Unit of the Republic of Kosovo as well as representatives from regulatory institutions, banking associations and financial intelligence agencies from Albania, North Macedonia, Montenegro, Slovenia and Turkiye.
This was a great opportunity for all of us to share experience among banks and regulators, discussing topics from banking and regulatory perspective, addressing challenges on existing and anticipated EU regulations as well as AML implications on the digital transformation era.
The participants also had the opportunity to discuss topics such as risk-based approach on AML/CFT from Regulator’s perspective, how to design an Effective AML/CFT Compliance Program in Banking as well as effectiveness in AML/CFT Compliance System Detection Controls.
Day one of the Conference included topics such as: Transformation of AML Compliance in the age of digital banking and artificial intelligence, Challenges of New AML/ CFT Legislative Package of European Commission, KYC and CDD (Onboarding, Monitoring, Internal Controls) from Banking Industry Perspective, Money Laundering/ Terrorist financing risks from banking industry point of view and Challenges in implementation of international financial Sanctions.
While on the second day the following topics were covered: Financial Security Risk Modelling - Assessment on SARs/STRs, Open Banking/Third Parties and Technical Providers & AML/CFT Requirements, Best practices on updating customer data and eKYC.
Agenda - AML/CFT Regional Conference 2022