Iceland’s Central Bank Hosts Conference on Anti-Money Laundering Regulations

Reykjavik, Iceland - September 5, 2023

The Central Bank of Iceland recently hosted a conference on measures against money laundering and terrorist financing, bringing together domestic and foreign experts in the field.

Key Takeaways from the Conference

• The event focused on various aspects of anti-money laundering (AML) regulations, including supervisory approaches, European Union laws, and law enforcement perspectives.
• Speakers shared knowledge and best practices on implementing effective AML regulations, with a focus on improving cooperation between supervisory authorities and enhancing the effectiveness of anti-money laundering laws.

Notable Speakers

• Unnur Gunnarsdóttir, Deputy Governor for Financial Supervision at the Central Bank of Iceland: Delivered opening remarks and spoke about measures against money laundering and terrorist financing from a supervisor’s standpoint.
• Olena Loboiko, Policy Officer at the European Commission: Discussed upcoming changes in the European AML/CFT legal framework, highlighting the importance of harmonizing regulations across the EU to combat money laundering and terrorist financing.
• Endija Springe, Head of Supervision at the European Banking Authority (EBA): Spoke about the EBA’s role in monitoring and regulating financial institutions’ compliance with anti-money laundering laws.
• Petra Vriend, Head of Department, Supervision Financial Crime at the Dutch Central Bank: Shared insights on data-driven AML/CFT supervision.

Key Sessions

• Supervisory Approaches: Speakers discussed effective supervisory approaches to prevent money laundering and terrorist financing.
• European Union Laws: The conference touched upon European Union laws related to anti-money laundering and combating the financing of terrorism (AML/CFT).
• Law Enforcement Perspectives: Experts shared insights on law enforcement measures to prevent money laundering, including challenges faced by law enforcement agencies in combating financial crimes.

Conclusion

The conference provided a platform for experts to share knowledge and best practices on implementing effective AML regulations. The event’s discussions centered around improving cooperation between supervisory authorities and enhancing the effectiveness of anti-money laundering laws in preventing financial crimes. As Iceland continues to strengthen its anti-money laundering regulations, this conference serves as an important step towards promoting greater transparency and accountability within the country’s financial sector.