The Qatar Financial Markets Authority (QFMA), in collaboration with the Union of Arab Securities Authorities (UASA), has held a specialised training programme on "Combating Financial Crimes".
The two-day programme was attended by 144 trainees representing 51 entities in Qatar, including professionals and those working in financial services industry, involved in regulation, law enforcement, trade and commerce, as well as private sector.
The programme addressed various issues related to financial crimes, including money laundering, terrorist financing, bribery, corruption and fraud, along with the practical defences, and focuses on how laws, regulations and best practice continue to evolve across the entire spectrum of associated activities.
The training programme discussed the role of the private sector in combating such crimes. It aims to enable participants with the tools to examine the crimes of money laundering, terrorist financing, bribery, corruption and fraud.
The programme has been designed to be highly interactive, so that participants are invited to discuss a number of real-life cases and practical experiences in order to gain an objective and practical understanding of the nature of financial crimes.
In respect of money laundering, the programme discussed the international Anti-Money Laundering (AML) standards, the Financial Action Task Force (FATF), as well as the role of international bodies.
With regard to terrorist financing, measures to combat the financing of terrorism, the standards for combating it and terrorist listing have been addressed.
As for bribery, it included examining the UK Bribery Act (2010) and Foreign Corrupt Practices Act (1977). Regarding corruption, corrupt practices, combating corruption, the role of multi-lateral and bilateral institutions, mutual legal assistance (MLA) and corruption indicators were discussed.
On fraud, the programme included investment fraud, market abuse, the Sarbanes-Oxley Act 2002, and tax evasion and on financial crime risk management. they discussed considerations for the financial services industry, risks, and practical business safeguards.
Participants were given official certificates issued by the UASA, with the possibility of obtaining a professional qualification from the Chartered Institute for Securities and Investment "CISI" after passing the appropriate exam.