Fraud and Financial Crime

Fintelekt-ABA Webinar on The Cost of Financial Crime Compliance in APAC

Course Duration: 63 minutes
Course Points: 60

This course allows Premium users to download a Participation Certificate.

Fintelekt Advisory Services and Asian Bankers Association hosted a webinar on The Cost of Financial Crime Compliance in APAC on July 20, 2022.

The webinar was moderated by Arpita Bedekar, Director – Strategy & Planning, Fintelekt Advisory Services. The speakers were Sharon Pamplona, Head of Financial Crime and MLRO, ANZ Hong Kong, David Haynes, Vice President, Asia Pacific, LexisNexis Risk Solutions, David Zhuo, Market Planner, LexisNexis Risk Solutions and Rika Astari, AML/CTF Compliance Expert / Consultant.

The webinar included a presentation on the key findings of the True Cost of Financial Crime Compliance Study 2022 that was published recently by LexisNexis Risk Solutions. 

The key issues that were discussed during the webinar:

  • Sourcing the right compliance talent to deal with ongoing compliance complexities
  • The volatile sanctions screening landscape due to the Russia-Ukraine war
  • The risks emanating from digital payments
  • The challenge of developing a single risk customer profile and maintaining an audit trail for transactions in a comprehensive manner
  • Mechanisms that should be put in place to ensure that DNFBPs cannot abuse the banking system
  • Areas in compliance screening operations facing the largest challenges and overcoming them
  • Alert volumes and clearance time – has the pandemic contributed to this adversely; and what has been the impact on analyst teams’ productivity and the ability to file suspicious transaction reports in a timely manner.

Webinar: The Cost of Financial Crime Compliance in APAC

Course Duration: 47 minutes
Course Points: 45

Fintelekt Advisory Services and Asian Bankers Association hosted a webinar on The Cost of Financial Crime Compliance in APAC on July 20, 2022.

The webinar was moderated by Arpita Bedekar, Director – Strategy & Planning, Fintelekt Advisory Services. The speakers were Sharon Pamplona, Head of Financial Crime and MLRO, ANZ Hong Kong, David Haynes, Vice President, Asia Pacific, LexisNexis Risk Solutions, David Zhuo, Market Planner, LexisNexis Risk Solutions and Rika Astari, AML/CTF Compliance Expert / Consultant.

The webinar included a presentation on the key findings of the True Cost of Financial Crime Compliance Study 2022 that was published recently by LexisNexis Risk Solutions. 

The key issues that were discussed during the webinar:

  • Sourcing the right compliance talent to deal with ongoing compliance complexities
  • The volatile sanctions screening landscape due to the Russia-Ukraine war
  • The risks emanating from digital payments
  • The challenge of developing a single risk customer profile and maintaining an audit trail for transactions in a comprehensive manner
  • Mechanisms that should be put in place to ensure that DNFBPs cannot abuse the banking system
  • Areas in compliance screening operations facing the largest challenges and overcoming them
  • Alert volumes and clearance time – has the pandemic contributed to this adversely; and what has been the impact on analyst teams’ productivity and the ability to file suspicious transaction reports in a timely manner.

Money Laundering, Terrorist Financing, Financial Crime and Illicit Flows Observed during the Covid-19 Pandemic by Muhammad Imran

Course Duration: 56 minutes
Course Points: 55

Presentation on Money Laundering / Terrorist Financing, Financial Crime and Illicit Flows Observed during the Covid-19 Pandemic: Learnings & Recommendations by Muhammad Imran, Criminal Intelligence Officer, Financial Crimes Unit, INTERPOL at the AMLC-Fintelekt AML/CTF Summit Philippines 2021, conducted virtually from November 22nd – 26th, 2021.

Criminal Forfeiture by Suren Thapa

Course Duration: 61 minutes
Course Points: 60

Presentation on Criminal Forfeiture by Suren Thapa, President & Founder, Global Intelligence Analysis Corporation, New York at the AMLC-Fintelekt AML/CTF Summit Philippines 2021, conducted virtually from November 22nd – 26th, 2021.

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.

Conversations: Tadeo Jun Claravall, The Financial Crimes

Course Duration: 23 minutes
Course Points: 
20

A milestone is reached for Fridays with Fintelekt today as Shirish Pathak, Managing Director, Fintelekt hosts his 50th guest Tadeo Jun Claravall, Founder, The Financial Crimes, and a student and teacher of financial crime risk and compliance.

In the conversation, Jun explains the motivation behind his recently published book, Financial Crime Fighter – Book of Mentors, which is a collaboration with 30 global leaders in anti-financial crime.

His goal for the book is to provide financial crime fighters all over the world with a secret weapon – access to advice, experiences and guidance from 30 global leaders as mentors that they can relate to.

Kudos to Jun’s decision to donate the profits of his book to support the fight against modern slavery!!More about the book here: www.thefinancialcrimes.com/book

Besides revealing some golden nuggets from his book, Jun shares his thoughts on what might be the ideal characteristics and what he calls ‘real’ skills (not soft skills) needed for a financial crime fighter.

In his opinion, a supportive organisational culture is important, but not a necessary element to becoming an effective financial fighter.

Listen to the 50th episode of Fridays with Fintelekt for an energizing and motivating dedication to Financial Crime Fighters across the world!!

Expert Speak: Harshit Baxi, Firstsource Solutions

Course Duration: 43 minutes
Course Points: 40

This presentation by Harshit Baxi, Global Head – Internal Audit & Risk Management, Firstsource Solutions took place at the conference AML/CFT Controls in the Insurance Sector, held virtually from September 28-29, 2021.

Conversations: Dr. J. Michael Skiba, International Financial Crime Expert

Course Duration: 21 minutes
Course Points: 
20

Fridays with Fintelekt today features J Michael Skiba, international financial crime expert, with host Shirish Pathak, Managing Director, Fintelekt Advisory Services in a conversation around fraud. Michael, popularly known as Dr. Fraud, has had several years of experience helping individuals and corporations become safer against frauds, scams and schemes.

Michael’s experience shows that in the financial services sector, fraud is more a matter of opportunities, as 96% of people committing fraud have no criminal history. He says that the Covid-19 pandemic has changed many aspects of the ecosystem due to the transition to work from home, creating gaps in data security and increased stress on companies. This has also reduced the personal thresholds at which people respond to an opportunity to commit fraud.

With increasing automation and the use of technology, his concern is that the human element in fraud management is getting lost. Corporations need to continuously train people and build expertise in running automated platforms. He recommends the creation of a task force with people across various departments to share insights and create a sense of synergy and cooperation in fighting fraud.

To develop a strong deterrent against fraud, Michael feels that it is not just the creation of laws, but the support and proper enforcement of the laws that is critical. The lack of information sharing is another challenging aspect of fraud detection that needs to be addressed.

Listen to the entire episode for more insights on organisational culture, criminal behaviour and rationalisation of fraud from his book “The Psychology of Fraud”. 

Fintelekt ABA Webinar: A Comprehensive Approach to Financial Crime Compliance Surveillance

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.

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