The Florida International Bankers Association (FIBA), in collaboration with Caribbean Central American Action (CCAA), the Federation of Latin American Banks (FELABAN), and The Conference of State Bank Supervisors (CSBS), will host an Anti- Money Laundering Conference on February 9-11, 2005 at the New Radisson Hotel, Miami.
For more than two decades the financial industry has been an important part of the fight against money laundering . Originally asked to help in the war against drugs and drug money laundering, the financial industry is now doing its part to help prevent the use of the financial system to fund terrorism or other illicit activities.
Both the regulators and the financial industry have taken their additional responsibilities under the USA Patriot Act very seriously. Banks have made significant investments in sophisticated software and have hired additional staff, while the regulatory bodies have issued severe penalties in the form of Cease and Desist Orders and monetary fines for banks and other financial entities who have not met the strict compliance guidelines under the USA Patriot Act.
Working together to achieve effective anti money laundering controls and practices, the sponsoring organisations have joined forces to offer a strong anti money laundering/USA Patriot Act compliance program for the financial industry.
Contact:
Patricia Roth, FIBA