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| An Agribank online workshop__Photo: Agribank |
On the morning of September 10, 2024, Agribank organized an online workshop on experiences on management of risks concerning sanctions in international payment activities.
The workshop was attended by representatives of leaders and staff of Departments/Centers at the Agribank’s head office and branches and representatives from Wells Fargo Bank, an important strategic partner of Agribank in the US market.
At the workshop, Ms. Nguyen Ngoc Hong - Deputy Head of Agribank’s Financial Institutions Department emphasized the importance of complying with regulations on management of risks regarding sanctions in the context of globalization and increasing international sanctions. Ms. Hong also acknowledged the support and experience sharing from Wells Fargo, and expected the workshop to provide many useful lessons for staff in handling international transactions
Addressing the workshop, Mr. Sudhakar Aduri, Wells Fargo Bank’s APAC Sanctions and Anti-Bribery & Corruption Manager, provided insights into many hot topics in compliance with sanctions regulations for financial services. In practice, a number of transactions have been conducted and penalized for violating the sanctions regulations.
The workshop ended successfully, providing a comprehensive view on sanctions as well as solutions in international payment activities. The knowledge and experience shared at the event will contribute significantly to improving the work of staff, contributing to the sustainable development of Agribank.
Also at the workshop, Mr. Robert Lin, Executive Director, Head, GTM Banks APAC, Global Treasury Management, shared and updated information related to products and payment trends that Wells Fargo Bank is providing to partners.
Agribank currently maintains cooperative relations with nearly 700 international banks. Particularly, Agribank and Wells Fargo Bank have had a long-term and strong relationship for more than 20 years. Currently, Agribank maintains relationships with the headquarters and 12 branches of Wells Fargo Bank around the world, which not only helps optimize international transactions but also enhances trust in global financial activities. Since 1998, Agribank has opened a USD Nostro account at Wells Fargo Bank and this is one of the most effective USD accounts, selected by Agribank as the standard payment instruction in FX, MM transactions for many years. Wells Fargo Bank is one of the partners that has provided Agribank with many diverse and quality products and services. The support from Wells Fargo has contributed significantly to improving service quality and better meeting the diverse needs of customers.- (Phuong Nguyen)
