BPNG to give “money talk” at UNITECH

Students and staff from the PNG University of Technology will be given first hand information about anti-money laundering and counter terrorist financing during an educational forum that the newly established Financial Analysis and Supervision Unit (FASU) of the Bank of Papua New Guinea will be conducting in Lae on Friday, October 21.

This is part of an awareness program the Bank of Papua New Guinea is conducting for financial institutions, non-financial businesses and professions including lawyers, accountants, real estate agents and car dealers operating in the province about its new functions and new developments.
The educational forum at the university is part of the awareness on “Anti-Money Laundering and Counter Terrorist Financing (AML/CTF) Reforms that the government has undertaken to meet international standards and requirement.

According to the BPNG, in order for PNG to meet the internationally accepted standards for the Financial Action Task Force (FATF), PNG has recently passed and certified five (5) suites of legislation to combat money laundering and terrorist financing.
This awareness is an opportunity for students and staff to be made aware of the Central Banks functions as well as professional prospects for employment in industries for students especially from the Business Studies department.