Top experts to share insights on money laundering

Tuesday, 5 July 2016 00:07 - - {{hitsCtrl.values.hits}}

Several top experts will share key insights into money laundering at a seminar in Colombo later this month.

The principal speaker at the seminar will be Dr. Dayanath Jayasuriya P.C. who is the author of leading texts on Sri Lankan anti money laundering and financial transactions reporting legislation and former Chairman of Securities and Exchange Commission of Sri Lanka and Insurance Board of Sri Lanka.

Other panellists at the seminar titled ‘Recent Global and National Developments in Anti Money Laundering and the Financing of Terrorism’ will be Yasantha Kodagoda P.C., Additional Solicitor General, Kalinga Indatissa, PC and Malik Cader, Attorney-at-Law, and former Senior Advisor Ministry of Finance and former Director General Securities and Exchange Commission of Sri Lanka. The session will be chaired by former Chief Justice Asoka de Silva.

The seminar organised by Corporate Legal Consultants will be held on 27 July from 2 p.m. to 5 p.m. at the Cinnamon Lakeside.

Organisers said recent measures relating to anti money laundering and combating the financing of terrorism have been a response to the realisation that money laundering and terrorist financing pose a real threat to the stability of financial systems and indeed of nations. New issues and challenges have been identified in different countries based on detailed case studies. In Sri Lanka new rules on customer due Diligence were enacted in January 2016.

Disclosures in the Panama Papers have heightened concern that the beneficial owners of trust funds may be avoiding the payment of taxes.

This seminar will review recent global and national developments and offer guidance on how to comply with new requirements as well as to sharpen investigative skills. The roles of FIU and FCID require clarification.

It will be useful for heads and management of banks, finance companies, stock brokers, unit trust management companies, insurance companies, insurance brokers, accountants and lawyers.

For registration contact Rushika 0767259484 or James 0714725234.