(PRWEB) January 03, 2012
Tawakal Money Express has successfully completed a 4 day training workshop for its staff and agents on compliance of anti-money laundering regulations. Organized by the Compliance Department of the company, the workshop was held on December 27-30, 2011 in Garoowe, Puntland, Somalia.
The training was attended by all of Tawakal Money Express’ branch managers, staff and agents from across Somalia.
The Objectives of the workshop were to provide participants with better knowledge and understanding of the relevant regulations such as anti-money laundering; and to increase their awareness of the best practices that can help them to detect and prevent illegal transactions. The main topics covered in the workshop were:
- Requirements and compliance with the U.S. Patriot ACT, Bank Secrecy Act and related issues.
- Implementations of new standards, policies, procedures, guidelines and internal controls.
- Roles and responsibilities of Tawakal Money Express agents and employees.
- Ofac laws and regulations.
The participants were provided with a comprehensive set of training materials (training manuals, policy and procedure manuals, agent and staff compliance guideline manuals.
The company President and CEO, Mr. Garad Nor, participated in the workshop via teleconference from his office in Minneapolis, MN. Mr. Nor closed the workshop by stressing the need to prevent terrorist groups, like Al Shaabab, from using money transmitter services to serve their illegal activities. Mr. Nor stated that “We need to be on high alert at all times to catch and prevent terrorists and criminals from using our money transmitter services. Somalia is a dangerous place. All money transfers to and from Somalia need special scrutiny. The company has a zero tolerance for failure to follow the company’s anti-money laundering procedures. Everyone within the organization must work together to achieve this goal. This will require ongoing training and monitoring of every member of the organization”.
Any member of the press who is interested in interviewing Mr.Garad Khalif Nor
Can contact the public relations department at 612 332 0666
2200 E Franklin eve #204
Minneapolis, Minnesota 55404 USA