The Qatar Society of Certified Public Accountants launched the national initiative to enhance compliance and build the capabilities of the first line of defense in combating money laundering, with support from the Ministry of Social Development and Family, under the slogan “Awareness protects… Compliance enhances.” This is part of the association’s efforts to develop institutional competencies and capabilities in the areas of compliance, anti-money laundering, terrorism financing and financial crimes, which contributes to building a work environment that is more aware of risks and more capable of adhering to legal and regulatory requirements.
In his statement, His Excellency Dr. Sultan Al-Dosari, Chairman of the Board of Directors of the Qatar Society of Certified Public Accountants, thanked the Ministry of Social Development and Family for supporting the initiative and continuing interest in the association’s activities, noting that the initiative aims to provide an integrated professional and practical training experience that helps participants move from theoretical knowledge to actual application, and enables institutions to develop their internal capabilities in the field of compliance and risk management of money laundering and terrorist financing, and to learn about the role of electronic systems, artificial intelligence, and digital analysis in detecting risks and enhancing the efficiency of compliance systems.
He added, “We seek to prepare cadres capable of assuming the responsibilities and tasks of compliance and combating money laundering and terrorist financing with professional competence in accordance with international standards and national laws and legislation, in a way that enhances confidence in the national economy and its attractiveness for investments, as training is the first line of defense to protect financial institutions and the national economy from financial crimes.” He added, “Continuous training contributes to enabling employees to monitor suspicious activities, and reducing the operational, legal, financial, and reputational risks that establishments may face as a result of non-compliance.” From this standpoint comes the importance of the initiative, as the compliance system and combating money laundering and terrorist financing have become among the basic pillars of protecting institutions and enhancing the sustainability of their business and reputation.
