AML Awareness

Conversations: Ross Delston, Attorney & Expert Witness

Course Duration: 30 minutes
Course Points: 
30

On Fridays with Fintelekt this week, host Shirish Pathak, Managing Director, Fintelekt is joined by Ross Delston, Expert witness, attorney & former US banking regulator (FDIC), who shares his varied experiences in policy responses to trade-based money laundering and trade-based terrorist financing, anti-corruption, corporate transparency and the risks from new technologies.

Our key picks from this interesting conversation full of anecdotes and experiences from Ross’s long career are: 

  • There hasn’t been much progress in combating TBML and that all elements in the trade supply chain should be covered by an AML programme, and made to file STR reports to achieve any tangible results. 
  • Ross compares the new AML law in the US, especially in the area of public access to beneficial ownership registries, with that across the European Union, India and other countries.
  • On NFTs and ICOs, he believes speculation may be a more important issue than money laundering fuelled by the huge rise in prices of various classes of assets over the years.
  • Conviction rates in money laundering are often low because understanding the flow of money, and especially explaining it to a jury, is difficult and it may be easier to prosecute the predicate crime rather than money laundering.

For more expert comments, please view the entire episode. 

Certificate Course: AML/CFT General Awareness

This certificate course (customised for BHUTAN) covers the fundamentals of Anti-Money Laundering/ Combating Financing of Terrorism (AML/CFT), explains AML/CFT compliance modalities and risk based approach and the instruments to detect and report Suspicious Transactions.

Topics Covered

  • Introduction
  • Regulatory Background
  • Sanctions Screening
  • Defining Money Laundering and Terrorist Financing
  • Anti-Bribery and Corruption
  • Elements of KYC Policy
  • Trade-Based Money Laundering
  • Identifying Potentially Suspicious Behaviour
  • Covid-19 threats and vulnerabilities
  • Case Studies

Updated: June 2021
Level: Beginner
Inclusions: Assessment, Completion Certificate
Duration: 92 minutes
Points: 180

Certificate Course: Are Suspicious Transactions the Evil Product of Money Laundering and Terrorist Financing?

In this certificate course, the faculty member discusses effective ways of identifying and reporting suspicious transactions. He highlights some red flags or indicators that should be kept in mind while dealing with new or existing customers. He emphasizes on the importance of Customer Due Diligence (CDD) and application of relevant due diligence processes based on risk involved with each customer (simplified due diligence in case of low-risk customers and enhanced due diligence in case of high-risk customers). He covers best practices recommended by the Financial Action Task Force (FATF) to identify and report suspicious transactions.

Updated: June 2021
Level: Beginner
Inclusions: Assessment, Completion Certificate
Duration: 36 minutes
Points: 35

Trainer: Dante T. Fuentes, CPA, CFE, CAMS, Adviser, Association of Bank Compliance Officers, Inc., Philippines
View Trainer Bio

Expert Speak: George Pearmain, Government of Jersey

Course Duration: 41 minutes
Course Points: 40

George Pearmain, Director of Financial Crime Strategy, Government of Jersey covered ways to engage with Media in Relation to Financial Crime Risk, Strategy and Response. George talked about the importance of proactive media engagement. He also shared how the Government of Jersey made significant use of media to get across their message to the common public.

This presentation was part of the AMLC-Fintelekt AML/CTF Summit Philippines 2020, conducted virtually from November 23rd – 27th, 2020.

Certificate Course: AML/CFT Awareness for the Philippines Real Estate Brokers and Developers

In this certificate course, the faculty member discusses the Philippines Real Estate Industry and their fight against Money Laundering & Terrorist Financing. He covers the Money Laundering / Terrorist Financing (ML/TF) risks in the real estate industry and their obligations under the Anti-Money Laundering Act of 2001 (AMLA) to put in place a Money Laundering/Terrorism Financing Prevention Program (MTPP) and identify and report suspicious transactions to the Anti-Money Laundering Council (AMLC). He talks about the current regulatory framework on Anti-Money Laundering in the Philippines and some of the common red flag indicators in the industry.

Updated: May 2021
Level: Beginner
Inclusions: Assessment, Completion Certificate
Duration: 64 minutes
Points: 60

Trainer: Dante T. Fuentes, CPA, CFE, CAMS, Adviser, Association of Bank Compliance Officers, Inc., Philippines
View Trainer Bio

Certificate Course: AML/CFT Going Back to Basics: Looking at the Tip of the Iceberg

In this certificate course, the faculty member covers basic aspects of Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT). He discusses the three stages of the money laundering process, different techniques used in each stage, basic concepts of terrorism financing and live case studies.

Updated: January 2021
Level: Beginner
Inclusions: Assessment, Completion Certificate
Duration: 1 hour
Points: 60

Trainer: Dante T. Fuentes, CPA, CFE, CAMS, Adviser, Association of Bank Compliance Officers, Inc., Philippines
View Trainer Bio


Conversations: George Pearmain, Government of Jersey

Course Duration: 19 minutes
Course Points: 15

In this video from the Fridays with Fintelekt series, Shirish Pathak, Managing Director, Fintelekt Advisory Services is in conversation with George Pearmain, Director, Financial Crime Strategy, Government of Jersey on the key highlights, findings and recommendations of the recent National Risk Assessment (NRA) that will be useful in other countries gaining a better understanding of the threats and vulnerabilities facing Jersey; managing the risk of international finance centres (IFC) facing being used either as placement centres or as transit points for large funds related to money laundering or corruption; impact of the NRA on revision or formation of regulations and laws related to financial crime compliance for various sectors and differences in running n NRA for an IFC, as compared to a ‘mainstream’ jurisdiction and critical success factors for a successful NRA.

Conversations: Ravi Lahoti, Chief Audit Executive, Bandhan Bank

Course Duration: 21 minutes
Course Points: 20

In this video from the Fridays with Fintelekt series, Shirish Pathak, Managing Director, Fintelekt Advisory Services is in conversation with Ravi Lahoti, Chief Audit Executive, Bandhan Bank on the role of audit in AML/CFT, elements of an effective AMl audit and common misconceptions about AML audits.

Conversations: Dev Odedra, AML and Financial Crime Expert and Director – Minerva-Strategem Consulting

Course Duration: 28 minutes
Course Points: 25

In this video from the Fridays with Fintelekt series, Arpita Bedekar, Director – Strategy & Planning, Fintelekt Advisory Services is in conversation with Dev Odedra, AML and Financial Crime Expert and Director – Minerva-Strategem Consulting on low public awareness and media coverage around AML/CFT issues, how different stakeholders can improve AML awareness and better championing of the role of the AML compliance officer.

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