Barbados Chapter

    Overview

    Welcome and thank you for visiting the ACAMS Barbados Chapter website.

     

    Our vision is to promote ACAMS as a platform for career development and networking for AML/CTF professionals in Barbados, by providing workshops and events of local and international interests, to share experiences and expertise, to enhance the level of competence of its members and develop best market practices.

     

    Our mission is to create a forum for continuing education and supporting network opportunities with AML and Financial Crime industry experts, to build strong relationships with other professionals who share the same commitment to protect their institutions and communities, and to promote the welfare of our financial system.

    Chapter Events

    Barbados Chapter August Virtual Event: Freeze! Not A Man Move

    AUGUST 27, 2020

     

    The obligation of financial institutions to conduct effective due diligence is one that is constantly evolving. Keeping up with freezing orders is no easy task, but ignorance of the law is no excuse. Being out of the loop can have dire consequences for your financial institution and any violation can result in fines as well as criminal charges. Join us on this virtual event to also explore, from a more practical perspective, what a financial institution should do when a client is featured on a Designated Order and is subject to an asset freeze.

     

    Learning Objectives

    1. Understanding the local regulatory environment and Freezing Orders of the Barbados Supreme Court
    2. Freezing Orders – The Impact on Financial Institutions
    3. Exploring best practices to follow when a freezing order is served on a financial institution
    4. Self-interest – Studying the issue of freezing orders at a Caribbean level

     

    Free virtual Chapter event hosted via Zoom.

    You must RSVP by August 25th to receive the registration link.

    **Please note that CAMS credit for this virtual event is available to members of the Chapter only.

     

    Speakers

    • Ms. Candice Huggins, Chief Compliance Officer, CIBC FirstCaribbean International Bank
    • Ms. Abena Agard, BSc. (Hons), CAMS, Senior Analyst, Financial Services Commission

    ACAMS Barbados July Virtual Chapter Event: Is there a PEP in your Step?

    JULY 30, 2020

     

    According to the Anti-Money Laundering /Combating Financing of Terrorism and Proliferation Guidelines issued by the supervisory authorities in Barbados, financial institutions must take reasonable measures to determine whether an individual is a Politically Exposed Person (PEP) prior to on-boarding and during the course of the relationship. This session explores the challenges faced by financial institutions on identifying PEPs in a small community and give practical advice for meeting your regulatory obligations.

     

    • Identifying PEPs and Meeting Regulatory Obligations in Barbados
    • Exploring the requirements of the Corporate Affairs and the Intellectual Property Office
    • Practical Enhanced Due Diligence Protocols for Strengthening Anti-Corruption Oversight
    • Best practices for optimizing screening and monitoring

     

    Free Event Via Zoom

    **Please note that CAMS credit for this virtual event is available to members of the Chapter only.

     

    Speakers

    • Mrs. Cyralene Benskin-Murray, LL.B (Hons), L.E.C., MRP, CAMS, General Counsel, Financial Services Commission
    • Mrs. Deidre Marquez-Padmore, LL.B, CAMS, Manager, Corporate Services, PwC

    Zoom Meeting: Medical Marijuana Prohibition To Mainstream

    APRIL 24, 2020

    The Barbados Chapter of ACAMS is hosting an event titled, “Medicinal Marijuana: Prohibition to Main Stream – Anti-Money Laundering (AML) Opportunities and Risks”. This is timely as the Barbados Government is currently debating the Medical Cannabis Bill. This will present some opportunities as well as risks for financial institutions as well as investors looking eagerly to get into this industry.

     

    Speakers:

    • Dr Damian Cohall
      Dr Damian Cohall is currently the Deputy Dean (Preclinical Sciences) and a Senior Lecturer in Pharmacology in the Faculty of Medical Sciences, The University of the West Indies, Cave Hill. He has given numerous presentations on Medical Cannabis locally and regionally. He has published extensively on use the medicinal plants and their bioconstituents, inclusive of Medical Cannabis. One of his most recent publication is a joint research effort with Dr Alana Griffith entitled “Conceptualizing a policy framework for the implementation of medical marijuana in the Caribbean territory of Barbados”.


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