Press Releases

<p>Riyad Bank sponsors the 9th Compliance and Anti-money Laundering Seminar, which was recently organized by The Institute of Finance in collaboration with Thomson Reuters Corporation and The Anti-Money Laundering Permanent Committee, under the patronage of His Excellency the Governor of SAMA Dr. Ahmed Abdulkarim Alkholifey.</p><p>Lamya Al-Fozan, Senior Vice President - Manager of Compliance Department at Riyad Bank, confirmed that the Bank is committed towards compliance with applicable laws and regulations by managing its regulatory risk through effective communication, in addition to providing appropriate advice to businesses by reviewing the compliance requirements and recommending suitable actions. She added that the Bank endeavors to strengthen the risk-based compliance approach to avert any issues of non-compliance. Riyad Bank’s Management maintains high standards of ethics and conduct at all times while carrying out the business in adherence with the applicable laws, regulations, and guidelines.</p><p>Al-Fozan pointed out that the Compliance Department at Riyad Bank is an independent department responsible for the identifying, assessing and providing appropriate advice, as well as monitoring and reporting risks of the Bank’s non-compliance with regulations. She added that in line with shifting towards electronic banking, Riyad Bank takes into consideration electronic risks and cyber-attacks which represent the biggest threats confronted by the banking sector.</p><p>This seminar is the largest annual gathering of officers in the compliance, governance and risk sectors. It introduces global experiences and challenges faced by banks and financial institutions in addition to providing guidance regarding setting and enhancing regulatory controls that will mitigate related risks.</p>