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MEC organises seminar on anti-money laundering

http://www.gulf-times.com/story/581396/MEC-organises-seminar-on-anti-money-laundering

 

The Ministry of Economy and Commerce (MEC) yesterday held a seminar, titled ‘Anti-Money Laundering and Terrorism Financing Regulations’, which brought together legal auditors working in Qatar and registered with the MEC.

 

The seminar, which brought together representatives of the Financial Information Unit at Qatar Central Bank (QCB), touched on the role of the auditing profession in combating money laundering and terrorism financing. Participants were briefed on the unit’s role and discussed co-operation between the unit and auditors to facilitate the work of the Anti-Money Laundering and Combating the Financing of Terrorism Committee with the support of accounting offices and companies operating in Qatar, the MEC said in a statement. 

 

The participants also discussed preventive and punitive provisions stipulated in Law No 4 of 2010.

 

The seminar comes within the framework of the ministry’s keenness to promote the auditing profession, which is regulated by the accounts auditing Law No 30 of 2004.

 

“The MEC is also keen on contributing to the development of the accounting and auditing profession, which reflects economic performance and represents a safety valve,” the statement adds.

 

During the seminar, the participants were briefed on the joint efforts by the MEC and QCB’s Financial Information Unit to raise awareness about anti-money laundering and terrorism financing regulations as well as co-operation between the ministry and auditors in reporting any suspected money laundering and terror financing activity. The attendees also emphasised the need to ensure the compliance of auditing offices with laws regulating anti-money laundering and terrorism financing.

 

At the end of the seminar, the lecturers answered all queries of auditors and accounting offices operating in Qatar.