Bank of Valletta has been shortlisted for an ICA Compliance Award for ‘Financial Crime Prevention Project of the Year’. The ICA Compliance Awards celebrate outstanding achievements, collaboration and innovation of compliance and financial crime prevention teams across the globe.
Following a thorough judging process, the bank was shortlisted ahead of the official awards ceremony to be held on June 25.
The ‘Financial Crime Prevention Project of the Year’ entry showcases the bank’s transaction monitoring transformation project, reflecting enhancements achieved in terms of strengthened controls, effectiveness and tangible benefits following the changeover.
The bank’s CEO Kenneth Farrugia welcomed the announcement, saying: “This recognition is a strong affirmation of our unwavering commitment to the highest standards of compliance, integrity and responsible banking. While our frontline teams remain fully focused on delivering core banking services, supported by dedicated specialist units, we attach equal importance to safeguarding the bank’s reputation and protecting its brand.
“A robust and resolute approach to combating financial crime, alongside full compliance with an increasingly demanding regulatory environment at both local and international levels, remains central to our long-term sustainability. This commitment underpins the trust placed in us by our customers, shareholders, correspondent banks and international credit rating agencies.”
Ryan Caruana, BOV Group’s chief anti-financial crime officer and money laundering report officer (MLRO), said being a finalist at the ICA Awards for ‘Financial Crime Prevention Project of the Year’ recognises the bank’s strong journey in enhancing and modernising its financial crime prevention framework.
“This achievement provides important external validation by the International Compliance Association of the bank’s ongoing commitment to effective, robust financial crime controls.”
ICA’s president, Pekka Dare, said: “On behalf of ICA, I would like to personally thank everyone who entered the ICA Compliance Awards Europe. It gives me great pleasure to congratulate Bank of Valletta on being shortlisted as a finalist in the Financial Crime Prevention Project of the Year category. All entrants represent the very best of what our industry has to offer, and I am looking forward to welcoming all finalists to the awards ceremony in London.”
The judging panel was made up of a diverse range of highly influential and respected figures within the compliance and financial crime prevention community. This includes: Lisa Bennett, legal compliance director, Mastercard; Shyam Kotecha, chief compliance officer, MLRO and director, MT Finance; Jon Duffy, senior vice president, corporate assurance and regulatory affairs, Genting Casinos UK; Caroline Braddock, ethics and compliance officer, Rolls-Royce; and Anthony Davies, senior compliance manager, AXA Health.
