AML Technology

Webinar: A Comprehensive Approach to Financial Crime Compliance Surveillance (with assessment and certificate)

Course Duration: 72 minutes
Course Points: 70

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

Fintelekt Advisory Services and the Asian Bankers Association hosted a webinar on A Comprehensive Approach to Financial Crime Compliance Surveillance on September 1, 2021.

This webinar was moderated by Shirish Pathak, Managing Director, Fintelekt and the speakers were Zubin Chichgar, Head – Monitoring and Analytics, Standard Chartered Bank, John Dalton, Vice President & Global Head of Financial Services Product and Solutions Strategy, KX, Madhu Sinha, Independent AML Compliance Professional, Former Head of AML, Citibank India and CJ Mhatre, Business Head – South Asia & Asean, KX.

Webinar: A Comprehensive Approach to Financial Crime Compliance Surveillance

Course Duration: 62 minutes
Course Points: 60

Fintelekt Advisory Services and the Asian Bankers Association hosted a webinar on A Comprehensive Approach to Financial Crime Compliance Surveillance on September 1, 2021.

This webinar was moderated by Shirish Pathak, Managing Director, Fintelekt and the speakers were Zubin Chichgar, Head – Monitoring and Analytics, Standard Chartered Bank, John Dalton, Vice President & Global Head of Financial Services Product and Solutions Strategy, KX, Madhu Sinha, Independent AML Compliance Professional, Former Head of AML, Citibank India and CJ Mhatre, Business Head – South Asia & Asean, KX.

Conversations: Bharath Vellore, LexisNexis Risk Solutions

Course Duration: 32 minutes
Course Points: 30

This week on Fridays with Fintelekt, Shirish Pathak, Managing Director, Fintelekt is in conversation with Bharath Vellore, Managing Director, APAC, LexisNexis Risk Solutions on a variety of issues within financial crime compliance and the role of technology.

Some insights shared from Bharath’s decade-long experience working with Accuity and now with LexisNexis:

– There is a lot of progress in the awareness of money laundering risks across sectors and across types of institutions. While banks have had years of experience and knowledge around compliance, the intent to comply is present within newer sectors like fintechs or DNFBPs. They may have a much shorter learning curve to reach the maturity level of banks.

– Now more than ever, technology is becoming the most important tool in the kit to address compliance, and to gain on 3 Es – viz. Efficiency, Effectiveness and Explainability.

– There is growing awareness amongst banks as well as freight forwarders and cargo companies on the risks from trade, but there is more to be done on digitising trade information flows.

– Mule accounts are risks of a unique kind that overlay the world of fraud and financial crime, and will require efforts and information flow across these two departments, often working in silos in financial institutions.

– A collaborative approach by regulators is the best way for them to get a deeper understanding of emerging technologies in the fintech or crypto industry, and for industry players to get the confidence of being aware of the risks, the gaps, and the compliance required.

For many more interesting nuggets, listen to the entire episode. 

LexisNexis APAC 2020 True Cost of Compliance – Key Findings

Course Duration: 15 minutes
Course Points: 15

The cost of financial crime compliance has risen significantly according to the 2020 LexisNexis Risk Solutions True Cost of Financial Crime Compliance Study, Asia Pacific (APAC) Edition. Across all financial institutions in Asia-Pacific study countries of India, Indonesia, Philippines and Singapore, the annual projected cost of financial crime compliance is $12.06B for 2020, with the greatest year-on-year increase being shouldered by larger Filipino and Singaporean financial institutions.

In this course, Douglas Wolfson, Director of Financial Crime Compliance Commercial Strategy, LexisNexis Risk Solutions presents the key findings of 2020 True Cost of Financial Crime Compliance Study for Asia Pacific (APAC) as well as for four countries within APAC – The Philippines, Singapore, India and Indonesia.

To download the report, visit: https://risk.lexisnexis.com/global/en/insights-resources/research/true-cost-of-financial-crime-compliance-study-apac

Expert Speak: Panel Discussion on Key APAC Trends and Challenges

Course Duration: 75 minutes
Course Points: 75

This panel discussion took place at the Fintelekt Asia AML/CFT 3rd Annual Summit 2021, held virtually from July 5-9, 2021. This panel was moderated by Arpita Bedekar, Director – Strategy & Planning, Fintelekt Advisory Services. The panelists included Serge Ceniza, First Vice President and Chief Compliance Officer, Philippine Business Bank, Theresa Karunakaran, Former General Manager, Reserve Bank of India, Md. Abdullah Al Mamun, CAMLCO & Head of Vigilance, Dutch-Bangla Bank; and General Secretary – AACOBB Bangladesh and Srinivas Vaman Gollapudi, Joint President and Business Head – Trade Finance and Commercial Operations, Kotak Mahindra Bank.

Expert Speak: Sagar Tanna, TSS Consultancy

Course Duration: 25 minutes
Course Points: 25

Sagar Tanna, Co-Founder, TSS Consultancy speaks about Customer “Experience and Compliance: Have You Got the Balance Right?” in this presentation from Fintelekt Asia AML/CFT 3rd Annual Summit 2021, held virtually from July 5-9, 2021.

Expert Speak: Robin Lee, Napier

Course Duration: 31 minutes
Course Points: 30

Robin Lee, Head of APAC, Napier speaks about Holistic AML – Why is it important? in this presentation from Fintelekt Asia AML/CFT 3rd Annual Summit 2021, held virtually from July 5-9, 2021.

Conversations: Colin Camp, Pelican.ai

Course Duration: 25 minutes
Course Points: 25

On Fridays with Fintelekt this week, Colin Camp, Senior Director, Business Development and Sales, APAC of Pelican is in conversation with Shirish Pathak, Managing Director, Fintelekt Advisory Services on access to data, artificial intelligence and financial crime compliance.

According to Colin, the only way banks can get on top of their compliance issues now is to be smarter and use modern technology.

Financial institutions need not rip off their old technology for new, but to look at how AI solutions can be used to supplement and improve the existing applications and to make compliance more efficient by employing the new tools.

Among other issues in the conversation, Colin speaks of the challenges around Trade-Based Money Laundering and how it has risen the ladder of priorities of regulators and governments. However, it is linked with other issues such as trade-based terrorist financing, trade-based fraud, human and wildlife trafficking. To truly stamp out the issue, there is a need to facilitate the sharing of data.

Expert Speak: Atty. Narlette Manacap-Jaravata, Citibank N.A. Philippines and Dante T. Fuentes, Association of Bank Compliance Officers, Inc.

Course Duration: 34 minutes
Course Points: 26

Atty. Narlette Manacap-Jaravata, Chief Country Compliance Officer, Citibank N.A. Philippines and Dante T. Fuentes, Adviser, Association of Bank Compliance Officers, Inc. talked about the benefits and threats of digitization. They also talked about initiatives of both the BSP and the AMLC to adapt information and communication technology.

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

Conversations: Sujata Dasgupta, Tata Consultancy Services

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 Sujata Dasgupta, Global Head – Financial Crimes Compliance Advisor, Tata Consultancy Services. This conversation talks about technology trends in AML/CFT Compliance and the role of employees of reporting entities evolving as a result, impact of emergence of FinTech and RegTech on large IT services or product technology companies in the AML/CFT ecosystem, effectiveness of penalties issued by regulators, awareness of AML Compliance in the smaller/regional financial institutions and lacunae in the banking/financial system to detect and report transactions.

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