MeDirect Malta has participated in the Malta Financial Crime Compliance Conference, organised by the International Compliance Association (ICA) which is the leading professional body for the global regulatory and financial crime compliance community.
During the event, Martin Xerri, MeDirect’s Senior Financial Crime Manager & MLRO participated in a discussion titled ‘Technology, Data, Automation & People – unlocking the potential of technology.’
During the discussion several themes were debated including how the risks and opportunities of new technologies can be determined and how the risks and benefits of integrating new technologies can be examined. The growing importance of AI and machine learning was also tackled as were other technologies such as the use of blockchain analytics and analysis to improve efficiency and prevent financial crime. The increased use of bots and the importance of leveraging of data in the compliance and anti-money laundering process were also discussed.
More broadly, the conference examined the need for businesses in Malta to adapt their regulatory compliance and financial crime strategies to be resilient and protect their customers. “The Malta Financial Crime Compliance Conference is a very important event bringing together regulators and stakeholders to discuss what is a complex and rapidly evolving environment with significant implications for Malta’s economic competitiveness. MeDirect will continue to play an active role in supporting the financial services industry in Malta, doing our best to ensure that the best possible standards are maintained”, said Xerri.