AML CFT Risks and Typologies

Certificate Course: AML/CFT Compliance in Digital Banking

Course Duration: 124 minutes
Course Points: 120

In this Certificate Course (Designed specifically for Bank of Bhutan), Sharad Nair, Faculty Member, Fintelekt Advisory Services discusses the evolution of digital landscape in banking, and how criminals and fraudsters have kept pace with the evolution. He covers new methods of money laundering that have emerged as a result of this, and the need for reporting entities to be aware of these new typologies.

Sharad shares a threat and control landscape for the Financial Crime Compliance (FCC) Risks in the Digital World, highlighting the key risks and ways of adding controls to mitigate those risks.

He also covers global regulations and steps taken to mitigate the risks posed by the fast evolving landscape.

Insights: Banking as a Service – Opportunities and Risks

Course Duration: 35 minutes
Course Points: 35

Baptiste Forestier, Chief Compliance Officer at LinkCy based in France provides a detailed explanation of the new and emerging concept of Banking-as-a-Service or BaaS. Recent trends have been responsible for a meteoric rise in BaaS and Baptiste covers the advantages of BaaS, and the role and benefits for various players in the BaaS ecosystem. However, the rise of the popularity of BaaS has also led to new money laundering risks. In the second part of the course, Baptiste alerts Fintech and non-Fintech businesses to these money laundering risks via a case study.

Fintelekt-ABA Webinar: Crypto’s Evolution, Enforcement Risks, Asset Recovery and Best Practices

Course Duration: 61 minutes
Course Points: 60

This course allows Premium users to attempt an assessment and download a Participation Certificate.

Fintelekt Advisory Services and Asian Bankers Association hosted a webinar on Crypto’s Evolution: Enforcement risks, Asset Recovery and Best Practices on December 15, 2021.

The session was moderated by Arpita Bedekar, Director – Strategy & Planning, Fintelekt. The speakers were Vasu Muthyala, Partner, Kobre & Kim and Calvin Koo, Principal, Kobre & Kim.

The following key issues were discussed during the webinar:

  1. Cutting through the headlines: Current status of crypto in Asia and major global jurisdictions
  2. Enforcement risks: case studies of significant global crypto cases, highlighting government priorities and exposure areas for financial institutions and other reporting companies
  3. Asset recovery: dispelling myths and understanding tools for supporting crypto-related victims and creditors
  4. What’s next?: discussion on what to watch for in key jurisdictions
  5. Best practices: tips on how to manage risks in this new frontier

Webinar: Crypto’s Evolution, Enforcement Risks, Asset Recovery and Best Practices

Course Duration: 52 minutes
Course Points: 50

Fintelekt Advisory Services and Asian Bankers Association hosted a webinar on Crypto’s Evolution: Enforcement risks, Asset Recovery and Best Practices on December 15, 2021.

The session was moderated by Arpita Bedekar, Director – Strategy & Planning, Fintelekt. The speakers were Vasu Muthyala, Partner, Kobre & Kim and Calvin Koo, Principal, Kobre & Kim.

The following key issues were discussed during the webinar:

  1. Cutting through the headlines: Current status of crypto in Asia and major global jurisdictions
  2. Enforcement risks: case studies of significant global crypto cases, highlighting government priorities and exposure areas for financial institutions and other reporting companies
  3. Asset recovery: dispelling myths and understanding tools for supporting crypto-related victims and creditors
  4. What’s next?: discussion on what to watch for in key jurisdictions
  5. Best practices: tips on how to manage risks in this new frontier

The Evolving Drug Trade in Asia and Nexus to Pacific by Avaneesh Raman

Course Duration: 26 minutes
Course Points: 25

Presentation on The Evolving Drug Trade in Asia and Nexus to Pacific by Avaneesh Raman, Consultant – Fiji & Pacific, Fintelekt Academy at the AMLC-Fintelekt AML/CTF Summit Philippines 2021, conducted virtually from November 22nd – 26th, 2021.

AML Risks from Decentralized Finance by Nathan Catania

Course Duration: 52 minutes
Course Points: 50

Presentation on AML Risks from Decentralized Finance by Nathan Catania, Partner, XReg Consulting at the AMLC-Fintelekt AML/CTF Summit Philippines 2021, conducted virtually from November 22nd – 26th, 2021.

Lakshmi Kumar and Kaisa de Bel, Global Financial Integrity on U.S. Real Estate Money Laundering

Course Duration: 19 minutes
Course Points: 15

In this Partner Video, Lakshmi Kumar, Policy Director, Global Financial Integrity and Kaisa de Bel, Policy Analyst, Global Financial Integrity present the main highlights of the report on ‘Acres of Money Laundering: Why U.S. Real Estate is a Kleptocrat’s Dream’, which provides a comparative analysis of real estate money laundering regulations in the G7.

This report explores the world of global money laundering and demonstrates the ease with which criminals choose the U.S. real estate market as their preferred destination to hide and launder proceeds from illicit activities.

Lakshmi and Kaisa speak about the main findings of the report and their applicability across other jurisdictions. They discuss likely policy responses from the government and international agencies.

The report uncovers many interesting findings:

  • From cases reported in the last five years, over USD 2.3 billion have been laundered through the real estate sector in the U.S.
  • Real estate money laundering is a problem that spans the entire U.S., and not just the high value markets.
  • Over 80 per cent of the money that is being laundered in the U.S. through the real estate sector came from outside the U.S.
  • Over 50 per cent of the cases involved a Politically Exposed Person (PEP).
  • Almost 37 per cent of the cases involved commercial real estate.
  • The use of anonymous shell companies and complex corporate structures continues to be the number one money laundering typology.
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