Low angle photo of four high rise curtain wall buildings 830891

BACB Appoints Richard Snookes As Interim Head Of Financial Crime Risk And Money Laundering Reporting Officer

Posted on 14/06/2022

Press Releases

British Arab Commercial Bank (BACB) has announced the appointment of Richard Snookes as the Bank’s Interim Head of Financial Crime Risk and Money Laundering Reporting Officer (MLRO), with immediate effect. Richard, a regulatory risk expert with 25 years of experience in the field, brings a track record of effective financial crime risk management and executive leadership to the role.

Having worked at financial institutions such as Barclays Capital, Santander UK and RBS, Richard has experience in leading teams responsible for risk monitoring at an international level. Richard is also highly competent in managing complex, specialist risk environments, having served as Chief Compliance Officer at Sberbank CIB in London, where he led a control enhancement programme and restructured the UK office’s compliance processes. This comes on top of extensive experience in financial crime prevention and regulator engagement, which has seen him supervise the deployment of robust controls in trade finance and correspondent banking contexts.

Reporting to BACB’s Chief Compliance Officer, Bhavesh Dattani, Richard will play a central role in helping the bank fulfil its strategy of pursuing safe, sustainable growth. As a UK-regulated bank dedicated to specialist markets, BACB views its compliance capabilities as the cornerstone of the bank’s operations and ability to serve its clients, and Richard’s expertise will enhance its already robust compliance function.

Commenting on his appointment, Richard says, “BACB is a bank that places regulatory compliance at the heart of its operations – and staying ahead of the curve on financial crime prevention is a crucial part of supporting international trade flows. I very much look forward to adding my experience to what is already a strong team at BACB.”

Bhavesh Dattani, Chief Compliance Officer, adds: “Richard’s extensive experience in anti-financial crime makes him the ideal choice for BACB’s Interim Head of Financial Crime Risk and MLRO. An effective, robust risk management approach is central to operating in our core markets, and this will continue to be an utmost priority for the Bank as we move forward in our next stage of growth.”

Based in London, BACB is an international specialist bank that finances trade flows to, and from, Africa and the Middle East.

Disclaimer: The material and information contained on the Site are provided for general information only and should not be used as a basis for making business or investment decisions. The Site displays information obtained from sources believed by BACB to be reliable, but BACB does not represent or warrant, nor accepts responsibility, as to its completeness or accuracy. If you are to rely on the information you are strongly recommended to take your own independent advice. The information may change at any time however BACB is under no obligation to update it.