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Conversations: Leah Callon-Butler, Emfarsis

Course Duration: 30 minutes
Course Points: 30

In this episode of Fridays with Fintelekt, host Shirish Pathak, Managing Director, Fintelekt Advisory Services is in conversation with Leah Callon-Butler, Director, Emfarsis on cryptocurrency and blockchain adoption, its challenges and potential benefits to society.

Leah’s company Emfarsis, helps early stage companies with their product to market fit. She says that often when a new technology is evolving, it isn’t clear to consumers how it can solve their needs. The same goes for blockchain and cryptocurrencies and Leah works to tell the right stories about how this technology can improve people’s lives. 

An example is her video about the Play to Earn NFT game – Axie Infinity – which has garnered considerable popularity amongst people affected by the pandemic by helping them with an alternative revenue source as it allows cashing out into real money (https://www.youtube.com/watch?v=Yo-BrASMHU4).

While Leah is all for allowing innovators to build new solutions, she recognises the role of regulation in fostering trust and confidence, in making regulated financial institutions enter the space and make it more accessible. However, there is a fine balance to be achieved. She feels that regulating too early without proper industry consultation and understanding of how the technology works could lead to unintended consequences. She thinks that blockchain technology could be more useful to compliance and potentially be a better way to prevent crime. 

For more such insights around the challenges with the FATF travel rule, the financial inclusion potential of the crypto economy, and a variety of resources that the compliance community can use to keep in touch with developments in this space, watch the entire episode. 

Certificate Course: Targeted Financial Sanctions

In this certificate course, Surendra defines the concept of Targeted Financial Sanctions (TFS), and compares it to Comprehensive Sanctions. TFS can be broadly classified into four categories. Surendra explains the difference between these categories, and covers the various sanctioning authorities that exist today.

The course also covers a brief description of UN Targeted Financial Sanctions, which follow FATF Recommendations against Terrorism Financing and Proliferation Financing, and implementation process of these sanctions.

Surendra states the obligations financial institutions have to identify designated persons, freeze their assets and prevent these people from using the financial system for their benefit. 

He concludes his presentation with evolving trends in economic sanctions across the globe.

Updated: July 2021
Level: Beginner-Intermediate
Inclusions: Assessment, Completion Certificate
Duration: 32 minutes
Points: 30

Trainer: Surendra Thapa, President & Founder, Global Intelligence Analysis Corporation, New York
View Trainer Bio

Webinar: Future-proofing your Financial Crime Compliance Screening

Course Duration: 58 minutes
Course Points: 55

Fintelekt Advisory Services and the Asian Bankers Association hosted a webinar on Future-proofing your Financial Crime Compliance Screening on April 7, 2021.

The speakers were:

  • Shirish Pathak, Managing Director, Fintelekt Advisory Services (Moderator)
  • Srinivas Vaman Gollapudi, Joint President and Business Head – Trade Finance and Commercial Operations, Kotak Mahindra Bank
  • Brent Estrella, Group CCO, Rizal Commercial Banking Corporation
  • Douglas Wolfson, Director – Market Planning, FCC & Payments, LexisNexis Risk Solutions

Key Issues:

  • The challenges around the current regulation and compliance frameworks designed to combat crime
  • Their impact on customer onboarding while increasing false alerts and operational costs
  • Negative impact on the customer experience as a result
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