Strategic Performance Management Approach

Strategy selection and execution can only be achieved by interacting with appropriate information, defining clear objectives, and managing performance. Taking a strategic approach to collating and distributing essential information will seamlessly allow the vision of performance management to become a reality that will significantly increase global business performance and profit.
------------------------

Having policies and procedures in place to manage risk and maintain compliance is essential. But these will only be truly effective if your employees are made aware of your policies and procedures and understand how their behaviour can impact on them – for good or bad! Using KAT our new Online Knowledge and Training Software

Dr Mark Germishuys International Director
------------------------

US fines Nigeria's United Bank for Africa $15 mln

WASHINGTON, April 28 (Reuters) - Nigeria's United Bank for Africa Plc UBA.LG has been fined $15 million for failing to comply with anti-money-laundering rules, U.S. authorities said on Monday.

The civil penalty was levied against the bank's New York branch because it violated a cease-and-desist order issued in January 2007 over problems with administering Bank Secrecy Act provisions.

An examination of the bank's programs was conducted by the Office of the Comptroller of the Currency in November. Bank Secrecy Act compliance is overseen by bank regulators and the Financial Crimes Enforcement Network (FinCEN). The OCC and FinCEN are units of the Treasury Department.

With assets of about $441 million, United Bank for Africa is the largest bank in Nigeria, with more than 630 offices there, as well as in Ghana, Cameroon, Cote d'Ivoire, Cayman Islands and London, according to FinCEN's enforcement document.

U.S. regulators said the civil penalty stemmed from about $197 million in suspicious transactions the bank failed to identify and report.

"We now have a BSA/AML program that we continually strengthen and assess in line with both market and regulatory developments," a bank official said.
------------------------

US fines Nigeria's United Bank for Africa $15 mln

WASHINGTON, April 28 (Reuters) - Nigeria's United Bank for Africa Plc UBA.LG has been fined $15 million for failing to comply with anti-money-laundering rules, U.S. authorities said on Monday.

The civil penalty was levied against the bank's New York branch because it violated a cease-and-desist order issued in January 2007 over problems with administering Bank Secrecy Act provisions.

An examination of the bank's programs was conducted by the Office of the Comptroller of the Currency in November. Bank Secrecy Act compliance is overseen by bank regulators and the Financial Crimes Enforcement Network (FinCEN). The OCC and FinCEN are units of the Treasury Department.

With assets of about $441 million, United Bank for Africa is the largest bank in Nigeria, with more than 630 offices there, as well as in Ghana, Cameroon, Cote d'Ivoire, Cayman Islands and London, according to FinCEN's enforcement document.

U.S. regulators said the civil penalty stemmed from about $197 million in suspicious transactions the bank failed to identify and report.

"We now have a BSA/AML program that we continually strengthen and assess in line with both market and regulatory developments," a bank official said.
------------------------