Correspondent Banking

Certificate Course: AML Risks in Correspondent Banking Module 2

In Module 1 of the Certificate Course on Correspondent Banking (CB), Atul discusses the inherent risks faced by banks involved in correspondent banking and the key trends and regulatory developments in this area.

In Module 2, he shares principles and methods to monitor and manage the risks associated with the business of Correspondent Banking.

He emphasizes on the importance of conducting Enhanced Due Diligence (EDD) of partners, given the high-risk classification of Correspondent Banking. He also talks about how the Wolfsberg Correspondent Banking Due Diligence Questionnaire (CBDDQ) can be used to manage the risks associated with Correspondent Banking.

Updated: August 2021
Level: Beginner-Intermediate
Inclusions: Assessment, Completion Certificate
Duration: 51 minutes
Points: 50

Trainer: Atul Naval, Faculty Member, Fintelekt Advisory Services
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Also available:
Certificate Course: AML Risks in Correspondent Banking Module 1

Certificate Course: AML Risks in Correspondent Banking Module 1

In Module 1, the faculty covers different inherent risks faced by banks involved in correspondent banking. There has been a lot of development in this area in the last few years. Atul talks about the key trends and regulatory developments in correspondent banking and attempts to bring us up to date with most of the developments in the area.

Updated: June 2021
Level: Beginner-Intermediate
Inclusions: Assessment, Completion Certificate
Duration: 50 minutes
Points: 50

Trainer: Atul Naval, Faculty Member, Fintelekt Advisory Services
View Trainer Bio

Also available:

Certificate Course: AML Risks in Correspondent Banking Module 2

Webinar: AML Challenges in Correspondent Banking

Course Duration: 54 minutes
Course Points: 50

Fintelekt Advisory Services and the Banking Association for Central and Eastern Europe (BACEE) jointly organized a webinar on AML Challenges in Correspondent Banking on May 27, 2021.

The webinar was moderated by Shirish Pathak, Managing Director, Fintelekt Advisory Services who welcomed the participants. Istvan Dengyel, Secretary General of the Banking Association for Central and Eastern Europe (BACEE) set the context for the discussion. He highlighted serious problems like de-risking, difficulty in opening new accounts and the high cost of maintaining correspondent accounts and pointed to an urgent need for solutions in order for banks to stay competitive in this business.

The first resource person, Dr. Elena Scherschneva, Independent Trainer/Consultant & Former Head of Austria FIU, provided an overview of the correspondent banking business, its practical challenges and ideas on how to address them.

The next presentation by Charan Rawat, Head of Compliance, Rabobank was focused on the relevant FATF recommendations, risks associated with correspondent banking, and the emerging role of financial technology providers (fintechs) in this space. 

Participants who attended this webinar live are entitled to receive a participation certificate. If you have already registered on Fintelekt Academy, the certificate will be sent to your registered email id on or before Thursday, June 3, 2021.

Webinar: ML/TF Risks In Correspondent Banking

Course Duration: 46 minutes
Course Points: 45

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 “ML/TF Risks In Correspondent Banking” and was aired on July 8, 2020.

Speakers:

  • DILANI SOORIYAARACHCHI, Head of Compliance, Seylan Bank
  • THERESA KARUNAKARAN, Director Compliance – Regulatory Affairs, Deutsche Bank AG
  • SAURABH NAGAR, Director, Business Solutions Group, APAC, Accuity

Key discussion points in the webinar:

  • Identifying ML/TF risks in correspondent banking
  • Due diligence complexities and best practices
  • Issues with the Wolfsberg Correspondent Banking Due Diligence Questionnaire
  • Responsibilities of respondent banks

Expert Speak: Mohammad Habibur Rahman, Islami Bank Bangladesh Limited

Course Duration: 24 minutes
Course Points: 20

Mohammad Habibur Rahman, Vice President and Head of Financial Institutions (FI), Islami Bank Bangladesh Limited speaks about Best Practices in AML Due Diligence of Correspondent Banking Relationships in this presentation from Fintelekt’s Asia AML/CFT 2nd Annual Summit 2020 held virtually from July 20-24, 2020.

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