In this regard, we are delighted to express our continued commitments towards effective enforcement of AML/CFT measure and further improving the regime with highest level of national & international cooperation. Ladies and Gentleman, 11. Compliance with AML/CFT law and regulations require high level of commitment where non‐compliances will be seriously dealt with.
For example, in 2017, financial regulators around the world imposed more than US Dollar 2 billion in fines related to AML compliance failures. 12. At the international level, we have witnessed banks been penalized to the tune of billions of dollars for failure to comply with AML/CFT laws and regulations.