{"id":26366662,"date":"2026-11-11T13:34:57","date_gmt":"2026-11-11T11:34:57","guid":{"rendered":"https:\/\/fra.gov.eg\/fra_news\/%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d8%a9-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9-%d8%aa%d9%86%d8%b8%d9%85-%d9%88%d8%b1%d8%b4%d8%a9-%d8%b9%d9%85%d9%84-%d9%84%d9%85%d8%b3%d8%a6%d9%88%d9%84%d9%8a\/"},"modified":"2026-11-12T13:41:48","modified_gmt":"2026-11-12T11:41:48","slug":"%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d8%a9-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9-%d8%aa%d9%86%d8%b8%d9%85-%d9%88%d8%b1%d8%b4%d8%a9-%d8%b9%d9%85%d9%84-%d9%84%d9%85%d8%b3%d8%a6%d9%88%d9%84%d9%8a","status":"publish","type":"fra_news","link":"https:\/\/fra.gov.eg\/en\/fra_news\/%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d8%a9-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9-%d8%aa%d9%86%d8%b8%d9%85-%d9%88%d8%b1%d8%b4%d8%a9-%d8%b9%d9%85%d9%84-%d9%84%d9%85%d8%b3%d8%a6%d9%88%d9%84%d9%8a\/","title":{"rendered":"FRA Hosts Workshop for AML\/CFT Officers at Regulated Entities \u2013 Wednesday 11 November 2026"},"content":{"rendered":"<ul>\n<li><span style=\"color: #800000;\">Raising corporate awareness of the latest Customer Due Diligence (CDD) procedures issued by the Egyptian Money Laundering and Terrorist Financing Combating Unit (EMLCU).<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>Financial Regulatory Authority (FRA), \u00a0chaired by Dr. Islam Azzam, hosted a workshop for AML\/CFT Compliance Officers at regulated entities. The workshop aimed to introduce the updated Customer Due Diligence (CDD) procedures issued by the Egyptian Money Laundering and Terrorist Financing Combating Unit (EMLCU) last September, as part of ongoing efforts to strengthen compliance with regulatory controls.<\/p>\n<p>Dr. Islam Azzam stated that FRA&#8217;s recently issued Circulars No. 5, 8, and 10 of 2026 outline key obligations to ensure the implementation of CDD measures. These measures achieve full integration between the objectives of the EMLCU and FRA in raising awareness of emerging fraud and money laundering patterns, as well as enabling early risk detection\u2014particularly by updating companies&#8217; internal policies and identity verification forms.<\/p>\n<p>At the outset of the workshop, Mr. Hamdy Badawy, Assistant to Chairman, emphasized the importance of adhering to these controls to prevent the exploitation of non-banking financial activities (NBFIs) in illicit practices, thereby bolstering market confidence. He highlighted the necessity of complying with relevant regulations aligned with international frameworks governing financial activities, international and regional Financial Action Task Force (FATF) bodies and their mandates, as well as the stages of inspection and verification\u2014from detecting suspicious activity to taking the necessary corrective measures.<\/p>\n<p>Presented by Ms. Maha Kanz, Head of the Central Department for Anti-Money Laundering and Combating the Financing of Terrorism, the workshop reviewed major regulatory updates. These include adding ongoing transaction monitoring to CDD procedures and emphasizing the continuous, periodic updating of client data and information. Such measures enhance financial institutions&#8217; ability to track transaction patterns, flag unusual operations and address potential risks.<\/p>\n<p>The workshop also covered the core pillars of Customer Due Diligence, primarily identifying and verifying identities of clients and beneficial owners, screening negative lists and applying a risk-based assessment and management approach tailored to the nature of the clients, activities and transactions executed by financial institutions.<\/p>\n<p>Participants were briefed on employee-related requirements, including integrity and competence (&#8220;fit and proper&#8221;) screening both upon hiring and continuously throughout their employment. Additionally, institutions must apply standard CDD procedures to their own employees whenever they apply for any of the company&#8217;s products or services.<\/p>\n<p>Furthermore, the session reviewed requirements for Client Acceptance Policies, which must be documented, approved by the Board of Directors and reviewed at least once every two years or whenever necessary. The policy must define targeted client segments based on risk assessments, alongside mechanisms for third-party reliance, the conditions required for dealing with third parties and the limits of such dealings.<\/p>\n<p>The presentation also addressed procedures for financial groups, underscoring the importance of applying consistent AML\/CFT controls across all subsidiaries, as well as tailored procedures for insurance institutions that account for the specific nature and risks of insurance products and services.<\/p>\n<p>The workshop concluded by stressing the vital role of AML\/CFT officers at FRA-regulated entities in adhering to the new updates, aligning internal policies and procedures accordingly, enhancing internal monitoring and control systems and raising employee awareness of AML\/CFT requirements.<\/p>\n<p>Notably, FRA will continue to organize similar workshops sequentially for entities under its supervision to reinforce compliance with AML\/CFT standards across the NBFI sector, mitigate risks, maintain market stability, and protect stakeholders&#8217; rights.<\/p>\n","protected":false},"author":7,"featured_media":26347575,"parent":0,"template":"","format":"standard","categories":[],"tags":[5892,5891],"fra_news_taxonomy":[],"news_paper_taxonomy":[],"class_list":["post-26366662","fra_news","type-fra_news","status-publish","format-standard","has-post-thumbnail","hentry","tag-anti-money-laundering-and-counter-terrorist-financing","tag-workshop"],"_links":{"self":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/fra_news\/26366662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/fra_news"}],"about":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/types\/fra_news"}],"author":[{"embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/users\/7"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/media\/26347575"}],"wp:attachment":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/media?parent=26366662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/categories?post=26366662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/tags?post=26366662"},{"taxonomy":"fra_news_taxonomy","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/fra_news_taxonomy?post=26366662"},{"taxonomy":"news_paper_taxonomy","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/news_paper_taxonomy?post=26366662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}