[ad_1]
MUSCAT : The CBO, in partnership with the Capital Market Authority, has launched the primary section of a complicated digital program for the usage of banks and different licensed monetary establishments in gathering and analyzing cash laundering and terrorist financing dangers.
This system is in tune with CBO’s efforts to strengthen, develop and modernize the anti-money laundering system and terrorist financing within the monetary sector and hold abreast of worldwide developments on this discipline.
This system can be used to gather and analyze information and in addition to judge outcomes of questionnaires, which give complete evaluation of dangers and associated elements. It’s a risk-based classification system that’s appropriate with probably the most outstanding digital options issued by the Monetary Motion Activity Drive (FATF).
The CBO works to boost the techniques utilized in it primarily based on the outcomes of the nationwide and sectoral evaluation, desk evaluation and on-site inspections that it performs for the monetary sector and any rising dangers on the native and worldwide ranges.
The Central Financial institution has held introductory seminars about this system for all licensed establishments so as to prepare the staff of those establishments to make use of this program with effectivity.
For all the newest information from Oman and GCC, observe us on Twitter, Instagram and LinkedIn, like us on Fb and subscribe to our YouTube web page, which is up to date every day.
[ad_2]
Source link
