AML Operations

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: 70

Trainer: Dante T. Fuentes, CPA, CFE, CAMS, Adviser, Association of Bank Compliance Officers, Inc., Philippines
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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: 120

Trainer: Dante T. Fuentes, CPA, CFE, CAMS, Adviser, Association of Bank Compliance Officers, Inc., Philippines
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Conversations: Tim Holt and Richard Wood, Agencia

Course Duration: 49 minutes
Course Points: 45

In this video from the Fridays with Fintelekt series, Shirish Pathak, Managing Director, Fintelekt Advisory Services is in conversation with Richard Wood, Director – Justice, Policing and Security and Tim Holt, Director of Serious Crime from Agencia. The conversation covers financial crime and investigation space. The speakers talk about priority areas for banks and other financial institutions to make their AML/CFT frameworks more effective, ways to improve quality of STR reporting, gaps in the investigations system and policing from an AML point of view.

They talk about expectations of law enforcement or intelligence agencies from banks and financial institutions, and also share recommendations to regulators and banking sector to understand better and identify and mitigate risks associated with Covid-19, benefits of public-private partnership and information sharing, low asset recovery and confiscation because of inadequate legislation and lacunae in training and awareness of AML and CFT.

Conversations: Jackie Shinfield, Blake, Cassels & Graydon LLP

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 Jackie Shinfield, Partner & Co-Lead – Financial Services Regulatory Group, Blake, Cassels & Graydon LLP. The conversation covers changes in the regulatory compliance over the years, recent investigations in Canada and their impact, need for regulators to keep up with the private sector, regulations in payments industry and advice to compliance professionals.

Conversations: Dawne Spicer, Caribbean Financial Action Task Force

Course Duration: 27 minutes
Course Points: 25

In this video from the Fridays with Fintelekt series, Shirish Pathak, Managing Director, Fintelekt Advisory Services is in conversation with Dawne Spicer, Executive Director, Caribbean Financial Action Task Force. Dawne talks about AML/CFT compliance challenges faced by CFATF members and advantages of being part of smaller jurisdictions, measures taken by Caribbean countries to improve their AML/CFT regulation and supervision, cryptocurrency regulations and evolving ecosystem, risks emerging as a result of Covid-19 pandemic in the Caribbean region, the Liechtenstein Initiative and banking perception of human trafficking and modern slavery as an AML/CFT risk and areas of co-operation that might result in consistency in AML framework across the globe.

Conversations: M C Ponnanna, Al Jazeera Exchange

Course Duration: 30 minutes
Course Points: 25

In this video from the Fridays with Fintelekt series, Shirish Pathak, Managing Director, Fintelekt Advisory Services is in conversation with M C Ponnanna, Head of AML/CFT and Money Laundering Reporting Officer (MLRO), Al Jazeera Exchange. The conversation centered around key changes brought in by the new AML Law implemented by Qatar Central Bank, current stand of cryptocurrencies in Qatar, risks associated with currency exchange houses, impact of Covid-19 on operations, latest trends in technology implementation in the area of AML/CFT Compliance, and factors that should be considered while implementing a new technology.

Fintelekt-ABA Webinar: Prioritizing AML Training

Course Duration: 1 hour 4 minutes
Course Points: 100

The first webinar of the 2021 series of Fintelekt-Asian Bankers Association joint webinars was held on February 3, 2021 on Prioritizing AML Training.

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

The speakers were:
Arpita Bedekar, Director – Strategy & Planning, Fintelekt Advisory Services (Moderator)
Shirish Pathak, Managing Director, Fintelekt Advisory Services
Chowdhury MAQ Sarwar, Independent Consultant, Bangladesh
Kevin Gomez, Head-AML/KYC and MLRO, IDFC First Bank

Key Issues:

  • Effective and relevant AML training across the organisation – how, what, when, where and why
  • Meeting regulatory expectations and demonstrating a compliance culture
  • Evolution of the AML compliance profession and future roadmap
  • Talent management and expanding the resource pool

Webinar: Prioritizing AML Training

Course Duration: 56 minutes
Course Points: 50

The first webinar of the 2021 series of Fintelekt-Asian Bankers Association joint webinars was held on February 3, 2021 on Prioritizing AML Training.

The speakers were:
Arpita Bedekar, Director – Strategy & Planning, Fintelekt Advisory Services (Moderator)
Shirish Pathak, Managing Director, Fintelekt Advisory Services
Chowdhury MAQ Sarwar, Independent Consultant, Bangladesh
Kevin Gomez, Head-AML/KYC and MLRO, IDFC First Bank

Key Issues:

  • Effective and relevant AML training across the organisation – how, what, when, where and why
  • Meeting regulatory expectations and demonstrating a compliance culture
  • Evolution of the AML compliance profession and future roadmap
  • Talent management and expanding the resource pool

Conversations: Diphat Tembo, Financial Intelligence Centre, Zambia

Course Duration: 26 minutes
Course Points: 25

In this video from the Fridays with Fintelekt series, Shirish Pathak, Managing Director, Fintelekt Advisory Services is in conversation with Diphat Tembo, Director – Compliance and Prevention Department, Financial Intelligence Centre, Zambia on the country’s level of compliance with the FATF Recommendations and the effectiveness of Zambia’s AML/CFT system, as well as follow up work that has taken place on strengthening the system based on the last mutual evaluation; key highlights from the FIC’s Annual Trends Report; practical difficulties that banks and other reporting entities in Zambia face while complying with regulatory reporting requirements and implementation of the right AML frameworks in their institutions; thoughts on whether the FATF process for mutual evaluation and ranking of countries is democratic and FIC’s expectations from banks, financial institutions and other reporting entities in the country to ensure that AML/CFT compliance improves in Zambia.

Webinar: Managing AML Risk, Operations and Continuity During the COVID-19 Pandemic

Course Duration: 41 minutes
Course Points: 40

This webinar is part of the webinar series run by Fintelekt Advisory Services in association with the Asian Bankers Association (ABA). The topic for this webinar is “Managing AML Risk, Operations and Continuity During the COVID-19 Pandemic” and was aired on March 26, 2020.

Speakers:

  • GUY SHEPPARD, Head of Asia-Pacific Financial Crime, Intelligence and Cyber, SWIFT
  • SUVEER KHANNA, Partner – Forensic Practice, KPMG

Key Discussion Topics:

  • Dealing with disruptions (expected and unanticipated) due to the pandemic
  • Staffing challenges during lock-downs
  • Preparing for potential disruption in service from technology partners
  • Is online fraud expected to increase and how are banks preparing for it?
  • Is there an increased regulatory risk due to challenges in monitoring and meeting reporting timelines
  • Balancing risk issues within the bank: will increased mindshare over higher credit risk due to the crisis dwarf the focus on AML?

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