Africa Risk Management and Compliance Partners

ARMC - PDPO Uganda Webinar On Developing Data Protection Frameworks ARMC is very proud of its work in Uganda. We have dedicated a lot of time and resources to collaborate meaningfully with the various Regulatory Authorities aligned to our clients, Financial Services. Here is just one such example; a webinar hosted by ARMC in partnership with PDPO Uganda. Our speakers providing insights to attendees from across the business sector on how to develop Data Protection Frameworks For Enterprises. https://lnkd.in/g4Tj24bw

Corruption and bribery are categorised as financial offences known as 'Predicate Crimes.' As a Head of Compliance , it is essential to integrate the risk of bribery and corruption into your AML / CFT country risk profile for an effective Geographic Risk Assessment within the AML/CFT framework. High occurrences of Bribery and Coruption indicate a greater probability of money laundering. At ARMC, we leverage Transparency International’s Global Corruption Perception Index to assess corruption risks in various countries we operate. Our Africa-focused analysis of the 2024 Index is available, (with comparisons to the 2023) in our short video report below. We run virtual Live online training sessions specifically for Boards and Executives covering Anti-Bribery and Corruption; AML, CFT & International Sanctions; Trade-based Money Laundering; Cybersecurity; Data Protection; and Artificial Intelligence (AI) – Implementing AI Right First Time For details on our specialised courses, please email [email protected] for a brochure. #AML #Compliance #Corruption #Bribery #AML #CFT #TransparencyInternational

?? *Strengthen Your Defense Against Financial Crime!*?? Africa Risk Management and Compliance Partners is offering a comprehensive Combatting Financial Crime Training Course created by the CISI; designed for banks and financial institutions. This 6-week online program equips you with the essential knowledge to safeguard your institution from financial crimes including money laundering and terrorist financing. ?? Duration: 6 weeks ?? Format: Online Elevate your team's expertise and protect your organisation. For more details, contact us at [email protected].

There are moments as Foreign Secretary where it is your duty to confront the darkest corners of humanity. This week, I bore witness to what will go down in history as one of the biggest humanitarian catastrophes of our lifetimes. On the Adré border between Chad and Sudan, I met with groups of Sudanese people, mostly women and children, who were fleeing mass murder and rape just over the borderline, a few hundred metres away, driven by ethnic hatred. I visited a malnutrition clinic, where children fought to save their lives from starvation. The death toll caused by the past two years of conflict in Sudan is too high to count. 88% of the refugees here in Adré are women and children. The women refugees I spoke to in a World Food Programme tent had lived through the killing of their husbands and brothers. One had burns on her arms. Another was beaten while she was pregnant, leaving her baby disabled. They asked me: what is the world doing to help us? The truth no one wants to admit is that if this was happening on any other continent - in Europe, in the Middle East, or in Asia - there would be far more attention from the media, far more outrage. There should be no hierarchy of conflicts, but sadly much of the world acts as if there is one. Every war is complex. Since independence, Sudan has been engaged in some kind of civil war for nearly sixty of the past seventy years. But this is not licence to shrug our shoulders. As we have seen in Gaza, it can take hundreds of days of diplomatic failure before we get to even the most fragile of ceasefires. And it is not because this war is isolated from the rest of the world. Irregular migration from Sudan to Britain alone increased by 16% last year. Unscrupulous smuggling gangs are looking to profit from the misery in Sudan. And the longer this war lasts, the greater its ripple effect. We must give credit to countries like Egypt, Chad, and South Sudan for managing this crisis alongside others nearby. The UK’s support to the region helps support those fleeing the conflict to stay nearer their homes. Working with Sierra Leone, the UK had prepared a United Nations Security Council resolution to address this humanitarian catastrophe. Despite support from every other member of the Council, including China, Russia cynically used their veto to shoot it down. In November I announced a doubling of UK aid to support nearly 800,000 displaced people and in Spring I am looking to convene Foreign Ministers in the UK to galvanise efforts for peace in Sudan. I am calling for three things. First, a commitment from all parties in this war to open all cross border and cross line routes to aid and to humanitarian workers. We need the UN to be able to operate cross border and cross line routes in Darfur. Second, all participants in this conflict must commit to the protection of civilians. Third, we need a new international commitment to a political process towards ending this conflict. We cannot forget Sudan.

Compliance with Licensing Rules and AML / CFT Regulations Still Matter According to the United States Attorney's Office - As Kucoin pays up $300 Million in penalties

"The Future is Now": How AI is Changing Cybersecurity Risk in Banks & Financial Services #AI #Cybersecurity #Ransomware #Databreach #Cyberattack #Phishing #Banking #Insurance

Insider threats in cybersecurity pose grave challenges for banks and financial institutions across Sub-Saharan Africa and globally. Recently, we've observed an uptick in cyber-attacks on major organisations, often involving internal staff complicity. These attacks are primarily driven by financial fraud. The risk escalates significantly with increased digital transformation of customer experiences, which involves intricate technology partnerships. Thus, it is vital to establish strong Third-Party/Supplier Risk frameworks. Recognizing early warning signs of internal cyber threats and deploying mitigation strategies is essential. ARMC Partners provides expert cybersecurity advisory services. Reach out to [email protected] for a confidential discussion. #Cybersecurity #InsiderThreats #FinancialSecurity #Cyberprotection

The security breach at the British Museum over the weekend of January 25th and 26th was the result of an unhappy staff member. This incident led to the closure of the museum's special exhibits, including Picasso prints and artefacts from the ancient Silk Road. Key IT systems, like the ticketing platform, were disrupted by this internal threat, not a cyber hack. This highlights the necessity for robust risk management in financial institutions to prevent internal threats from compromising systems. At Africa Risk Management and Compliance Partners, we offer risk and advisory training for financial entities. For further details, contact [email protected]. #InsiderThreat #RiskManagement https://buff.ly/4gfBchK

Bank of Uganda (BOU) Deputy Governor leading the conversation on a very important topic - the impact of climate change on our lives as peoples right across Africa

Microsoft has initiated legal proceedings in the US District Court for Eastern Virginia against ten individuals accused of running a cybercrime operation. These individuals are alleged to have exploited vulnerabilities in Microsoft's AI platform, Azure, to produce malicious content. Utilising stolen credentials and specialised software, they reportedly breached systems via Microsoft's OpenAI, repurposing them for illicit activities. Microsoft believes three of these suspects, possibly residing abroad, developed software to bypass AI safety protocols. In response, Microsoft has strengthened its cybersecurity measures and terminated their access. Financial institutions must remain vigilant to the emerging risks posed by AI, which criminals may use to create fraudulent identification documents for opening bank accounts or securing loans. Financial institutions should leverage external expertise to enhance fraud prevention strategies. At ARMC Partners, we offer extensive cybersecurity training for financial sectors across Sub-Saharan Africa. For more information, reach out to [email protected]. #Cybersecurity #AIDefense