Bank of Georgia Holding organizes AML/CFT Financial Integrity Roundtable in Baku

Baku: Bank of Georgia Holding organized AML/CFT Financial Integrity Roundtable jointly with Premium Compliance Advisory (PCA) – and Galt and Taggard (GandT) Securities. AML/CFT Financial Integrity Roundtable brought together representatives of about 25 Azerbaijani and International Banks working in Anti Money Laundering and Compliance field. The conference had honor to host the officials of Financial Monitoring Service of Baku as well.

Opening the event, PCA Chief Managing Director– Levan Kulijanishvili outlined crucial areas of global tendencies in AML/CFT regulations and therefore main challenges facing financial institutions. He expressed confidence that the conference will contribute to exchange of valuable skills and techniques that should further reach enhancement of the AML frameworks in Azerbaijani companies: – “All global business deals at the very first stage of negotiation imply AML verifications and compliance check requirements, so we wonder to see our potential counterparties’ AML/CFT frameworks. We initiate this

process by sharing our own experience and internal approaches in AML/CFT field today”.

Speaking to the event, Deputy CEO of Bank of Georgia and Chairman of Galt and Taggard (GandT) Archil Gachechiladze highlighted the stable financial data of Bank of Georgia Holding and stressed its main achievements. As he mentioned, Bank of Georgia as one of the biggest financial institutions in the Caucasus region is extremely interested to enhance business collaboration with Azerbaijani financial institutions, by offering them wide range of global transaction banking products and services.

The significance of the conference was also stipulated by the participation of International Experts in AML/CFT field – Giuseppe Lombardo, Gabriele Dunker, PCA experts Tamar Goderdzishvili and Tamar Venetski who shared experience and substantial knowledge to the representatives of local banks.

The conference was concluded with a speech of official representative of Thomson Reuters –Michail Borisiewicz, who also noticed the considerable meaning of discussions on AML/CFT risks and the ways how to mitigate those risks.