Anti–Money Laundering Seminar

Posted on Oct 18, 2018

Nicosia, 16th of October 2018, the CEO/MD of ECOMMBX LTD, Michael C.G. Charalambides participated in the conference "Anti–Money Laundering Seminar ML/TF risks" and the challenges banks face when they enter into business relationships with e-money and payment institutions’. The event was organized by the Cyprus Institute of Finance Services under the auspices of Central Bank of Cyprus.

The objective of the seminar was to encourage better and closer collaborations between Banking Institutions and EMIs/PIs. The audience was made up of Senior Management, Directors and Compliance Officers of banking institutions. Michael presented and positively discussed with bankers the hot topic of: ‘’AML, Compliance, Fintech and ongoing business – The industry perspective: E-money, Fintech: the evolutionary branch of Banking.”

During Michael's workshop, the bankers were positively impressed and many questions and discussions were sparked. In short, all agreed that

"Fintech companies can be risky, but good and solid ones can be rewarding!"

Michael added that

"A bank can benefit by serving good fintech companies based on three pillars:

  • First, the bank will be challenged to keep up with technological trends;
  • Second the bank will gain volumes and transactions from the EMIs
  • Third - the bank will get new customers on a global scale via EMI client base”

 

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