philippines

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: 35

Trainer: Dante T. Fuentes, CPA, CFE, CAMS, Adviser, Association of Bank Compliance Officers, Inc., Philippines
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Expert Speak: Daniel Thelesklaf, Former FIU Head, Switzerland & Former Co-Chair of the European ICRG Joint Group

Course Duration: 60 minutes
Course Points: 60

Daniel Thelesklaf, Former FIU Head, Switzerland & Former Co-Chair of the European ICRG Joint Group talked about the critical success factors for the Philippines to help them avoid the FATF Grey List. He shared practical recommendations for the Philippines to avoid the International Co-operation Review Group (ICRG) process.

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

Expert Speak: Mariano Federici, K2 Intelligence, Financial Integrity Network

Course Duration: 37 minutes
Course Points: 35

In this presentation, Mariano Federici, Former Chair of Egmont Group of FIUs and Vice President at K2 Intelligence, Financial Integrity Network talked about ways of maximizing Public Private Partnerships. He discussed how financial intelligence/information sharing partnerships (FISPs) allow regularly convened public private dialogue on financial crime threats towards building a common understanding of risks, threats and vulnerabilities affecting the national AML/CFT system.

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

Expert Speak: Theresa Karunakaran, Ex-Reserve Bank of India

Course Duration: 42 minutes
Course Points: 40

Theresa Karunakaran, Former Director Regulatory Affairs Deutsche Bank AG and Former General Manager – Department of Supervision, Reserve Bank of India talked about Conducting Institutional Risk Assessments in this presentation. She began by emphasizing on the importance of a Sound money laundering/ terrorist financing risk management, and then talked about the must haves for an organization to handle risk.

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

Expert Speak: Atty. Mel Georgie B. Racela, Anti-Money Laundering Council Secretariat

Course Duration: 13 minutes
Course Points: 10

Atty. Mel Georgie B. Racela, Executive Director, Anti-Money Laundering Council Secretariat divided his presentation into three parts:

  1. Amendments to the 2018 implementing rules and regulations (IRR), the majority of which are based on the recommendations contained in the 3rd round of ME report.
  2. Sanctions Guidelines, issued to improve the low level of Effectiveness under Immediate outcome (IO) 10 (Terrorist Financing Preventive Measures and Financial Sanctions), FATF Recommendation 6, in relation to Immediate Outcome 10 and to meet International Best Practice.
  3. Enforcement Guidelines, used when circumstances surrounding the non-compliance warrant a less severe form of supervisory action and the CPs exhibit willingness to voluntarily address compliance issues within a reasonable period of time and without the necessity of referral of an ROC to the LEG under the RPAC.

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

Expert Speak: Eden Dema, Fantasia Hamtsham Consultancy

Course Duration: 26 minutes
Course Points: 25

Eden Dema, Founder, Fantasia Hamtsham Consultancy and Former Deputy Governor, Royal Monetary Authority of Bhutan talked about Balancing Financial Integrity and Financial Inclusion. She covered traditional barriers to financial inclusion and shared opportunities to improve financial inclusion.

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

Expert Speak: Marco De Simoni, Financial Intelligence Unit, Italy

Course Duration: 33 minutes
Course Points: 30

Marco De Simoni, Advisor, Financial Intelligence Unit, Italy talked about SupTech and shared Recommendations for Supervisors to Leverage Data and Technology. He also talked about the challenges associated with the use of Suptech tools.

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

Expert Speak: Pamela Clegg, CipherTrace

Course Duration: 36 minutes
Course Points: 35

In this presentation, Pamela Clegg, Director of Financial Investigations & Education, CipherTrace talked about Investigation, Seizure and Confiscation of Virtual Assets. She shared findings from The CipherTrace Cryptocurrency Intelligence Report and talked about handling risky Virtual Asset Service Providers (VASPs).

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

Expert Speak: Nicholas McTaggart, The Murinbin Group

Course Duration: 42 minutes
Course Points: 40

In this presentation, Nicholas McTaggart, Founder, The Murinbin Group talked about the challenges faced across the globe in Asset Tracing and Recovery. He also shared some good practices in asset tracing and confiscation.

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

Expert Speak: Archana Kotecha, The Remedy Project

Course Duration: 41minutes
Course Points: 40

Archana Kotecha, Founder, The Remedy Project talked about risks posed by Modern Slavery and Human Trafficking. She covered how a crisis such as Covid-19 amplifies the vulnerability of trafficking victims and the role financial institutions play in curbing human trafficking. She also discussed way forward for Combating Modern Slavery.

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

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