Benjamin Dunlap, Manager with Alvarez & Marsal Disputes and Investigations in Dubai, explains in an article he authored why financial institutions need to rethink their current compliance network. His op-ed article, “Making Financial Crime Compliance Count in the Middle East,” was published in Gulf Business.
In the article, Mr. Dunlap explains how banks in the Middle East fare as it relates to Financial Crime Compliance (FCC): “Regionally, there is also a lack of experience and exposure to best practice approaches to FCC at the middle management level, the first line of defence and in operations. A lack of understanding of the role in mitigating FCC risk at the first line is probably the most glaring issue. Many first line staff lack experience in detecting signs of financial crime. In some banks, operations staff do not receive appropriate training in FCC," Mr. Dunlap says.
“Unfortunately, a finite amount of resources leads to less willingness to plan proactively, especially in compliance. This is an area where the big international banks have really led the way, engaging with regulators and international standard setters to apply best practices. In our region, the attitude to regulation is to wait and see instead of adopting a proactive approach.”
Click here to read the full article
This article was originally published in Gulf Business in February 2020.
Prediction Markets: CFTC Issues Guidance and Potential Rulemaking Notice
March 24, 2026
On March 12, 2026, the Commodity Futures Trading Commission (CFTC) issued two key documents aimed at clarifying regulatory oversight in the prediction markets – an Advanced Notice of Proposed Rulemaking (ANPRM) and a staff advisory letter to Designated Contract Markets (DCMs). In this article, we will highlight key takeaways from both.
Preparing for FinCEN’s Investment Adviser AML Rule
March 23, 2026
In this article, Tania Henriques, Jonathan Zatz, and Connor Gibbs share perspectives on FinCEN’s Investment Adviser AML Rule, including the data, governance, and control considerations that can help firms move from reactive compliance to a more sustainable approach.
Preventing Financial Blind Spots: The Role of Forensic Accountants in Early Dispute Resoultion
March 16, 2026
The right dispute strategy often begins with understanding what the financial evidence can actually support. Senior Director Kelvin Cheong explores how early forensic insight can help parties preserve evidence, assess financial viability, and approach negotiations, arbitration, or litigation with greater clarity and confidence.
US A&M Activist Alert – March 2026
March 10, 2026
Increased M&A activity, portfolio optimization, and margin improvement are driving activism in 2026. As deal activity accelerates, scrutiny of strategy and execution is intensifying. Read the report for sector‑specific risks and practical steps to stay ahead of activists.
