Effiya Technologies exhibited at the 4th MENA Regtech event held in Dusit Thani Hotel, UAE on 16th November 2022
The current pandemic has affected every economy by disrupting the standard way of life. The financial sector is among the most widely affected by the economic crisis and the notable effect is related to financial crime.
The approach to business changed to examining the pattern of financial crime and investigate how financial institutions across the world has been responding, managing and dealing with the emerging pattern of financial crimes. The 4th MENA REGTECH event aimed to discuss and explore the use of Information Technology to enhance and adapt to “Regulatory processes and evolving changes”.
Jigar Shah, CEO Effiya Technologies, moderated the round table panel discussion focused around “Greatest challenges in the fight against money laundering and terrorist financing and the emerging trends that various industries are facing”
Luminaries from healthcare, BFSI, telecom, retail and government shared their perspective on how to rethink and realign the existing approaches and potential areas of innovation to combat financial crime compliance.
The key topics for discussion was to understand –
- The impact of Covid-19 pandemic on each industry and challenges faced
- How the perpetrators of financial crime were able to leverage the situation for their good?
- What were the financial crime typologies observed during the pandemic, and was any pattern observed?
- Ramping up of remote technological infrastructure to fight financial crime compliance and risks
- How to handle rapid regulatory changes and evolution of compliance function with minimum change and strong governance
