Sofia hosted one of the largest professional regional forums – Sofia Compliance Forum 2026, bringing together international experts in the field of compliance. Nearly 300 business representatives discussed the latest developments in the field, and had the opportunity to exchange experiences with top industry experts from around the world during the all-day forum organized by Fibank and PwC Bulgaria.
For the second consecutive year, the event puts compliance in the focus of personal responsibility through practically oriented lectures and exchange of expert experience.
The forum was opened by Anton Petrov, Chief Compliance Officer and member of the Management Board of Fibank (First Investment Bank), who commented that the transition from rules on paper to their real implementation with efficiency and accountability increasingly clearly outlines compliance as an element of strategic leadership, instead of an abstract concept.
Nikola Bakalov – Chief Executive Officer (CEO) and Chairman of the Board of Directors of First Investment Bank.
“The role of the compliance function is to provide stability and predictability regarding upcoming changes. Some regulations come into effect in two years – for certain businesses this period is too short, and for others it seems distant. Compliance experts should be proactive, put the topic in the focus of CEOs and emphasize the need to act now“, emphasized Yulian Mihov, Head of “Forensic Services“ for Central and Eastern Europe and Director “Business Development“ for Southeastern Europe at PwC.
Sofia Compliance Forum arises in response to the lack of an authoritative leadership space in Bulgaria and the region, where experts, regulators, members of management bodies and business leaders can have an open dialogue about the real problems and necessary changes in the field of compliance. The forum is establishing itself as an important platform for the sector, providing professional dialogue and exchange of international know-how.
During the discussions, it became clear that one of the leading trends in recent years in the field is the increase in compliance costs for banks - both on a financial and human resource basis.
During the panel sessions, experts united around the thesis that artificial intelligence should be used as a support for decisions, and not as a solution in itself, when it comes to compliance. The speakers emphasized the indispensable role of the human factor in the dynamically developing environment of compliance and automated systems.
Christian Hunt, an expert in strategy and fraud risk management, emphasized the key role of employees in the company - in order to integrate the concept of compliance into corporate processes, people throughout the structure must become part of the transformation and be directly involved in the processes, as well as adequately motivated. “You can automate decisions, but not accountability. Technology only accelerates what you already do – if you comply, it will help you do it more, but if you don’t comply and try to hide it with technology, it will become your weakness. No AI or automation tool will stand up to the law – it’s the human who is accountable. That’s why human judgment is crucial,” said Faisal Islam, president of Regtech at Binderr, a global business adoption platform.
Samuel Grand, an independent board member and former chief risk officer at European banking groups, highlighted one of the main risks organizations face when implementing and complying with compliance standards, namely the approach of simply reporting that measures have been taken – it is important to act effectively in practice.
During the event, experts examined real-life cases with high practical value, which provoked a lot of discussion and comments. Michael Weiss, Partner, Head of Forensic Services and Financial Crimes at PwC Luxembourg, advised attendees to always investigate sudden significant profits or volumes from high-risk clients, and not to rely on the understanding that “no news is good news“.