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EastNets holds conference in partnership with FERG for UAE exchange houses to help reinforce compliance with Anti-Money Laundering regulations

Event organized in cooperation with Foreign Exchange & Remittance Group to focus on critical money laundering issues today


April 05, 2016 – EastNets, a leading global provider of compliance, payments and cloud solutions for the financial services industry, is holding a conference today (April 5th 2016) for exchange houses in the UAE to help them in their regulatory compliance and risk management in light of stringent regulatory measures seeking to ensure strict adherence to anti-money laundering (AML) regulations.

AML experts and heads of concerned organizations will discuss critical issues facing financial institutions and exchange houses operating in the country during the one-day session on April 5, 2016 at the Shangri-La Hotel in Dubai.

The conference which is taking place under the theme ‘Changes, Challenges & Technology – Regulatory Compliance for Exchange Houses’ in cooperation with the Foreign Exchange & Remittance Group (FERG), is serving as an ideal platform for members of the financial services industry – exchange houses in particular – to share their success stories as well as tackle common, modern-day challenges.

Additionally, it will provide an opportunity for like-minded peers to exchange information on best AML practices, day-to-day compliance procedures, effective preventive methods and key precautionary measures, and state-of-the-art technologies to better address compliance concerns.

Hazem Mulhim, CEO, EastNets, said: “There are numerous difficult challenges facing all financial institutions today, hence the need for all stakeholders to come together to introduce fool-proof solutions to these issues. Global money laundering transactions are growing and the industry must respond swiftly and precisely to effectively counter these criminal activities.”

“Education is a fundamental aspect of our efforts. Through our seminar which was held today in Dubai, we aimed to not only provide a venue for industry stakeholders to exchange knowledge and expertise but, more importantly, educate and empower exchange houses in the UAE as well. The seminar featured key topics and agendas that are of utmost importance, with our guest speakers discussing the latest measures, emerging trends, and new industry developments. The participants also learned about the best ways to stay compliant with AML regulations through the aid of cutting-edge technological innovations available in the market today.  Aside from our state-of-the-art AML solutions, this event was aligned with our commitment to support the financial services industry in stopping money laundering activities,” added Mulhim.

For more than 31 years, EastNets has been a provider of leading and SWIFT-certified compliance and payments solutions and services to over 1000 customers across the globe. The company offers regulatory compliance solutions for AML, KYC (Know your Customer), Watch List Filtering, Sanctions Screening, US Foreign Account Tax Compliance Act (FATCA) Compliance, Regulatory Reporting and Duplicate Message Detection, along with a wide range of professional services.


About EastNets:

EastNets® is a leading global provider of compliance and payments solutions for the Financial Services industry. Over the past 30 years EastNets has built distinctive expertise to develop and implement standardized and individual solutions against financial crime, and for risk management, monitoring, analysis, reporting, and state-of-the-art consultancy and customer support. Over 1000 customers including some of the largest international financial institutions rely on EastNets solutions and professional services, and over 300 corporate and financial institutions rely on EastNets for outsourced SWIFT connectivity and compliance software solutions made available as a service through its fully managed service bureaus. EastNets is a global company with regional offices in major cities, supported by a large network of global strategic partners.  For more information, visit

About FERG:

FERG is a non- profitable organization which was formed in 2008, for the welfare of the money exchanges in UAE and to work towards a mutual benefit of the money exchange industry. The main vision of the Group is to foster the development of a dynamic, innovative and stable foreign exchange and remittance industry that contributes to the economic and social wellbeing of our customers and position UAE as the market leader in money exchange and remittance business. FERG’s role is to ensure implementation of best practice standards among exchange houses in the UAE, in addition to providing a platform for sharing knowledge related to the financial industry. It also ensures the industry’s views and opinions are heard and considered by regulatory and government bodies.

Currently FERG have 74 members on the board who controls 90% of the money exchange business of UAE.

For more information, please visit their website –

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