screening

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. 

Expert Speak: Avinash Tanna, Accuity

Course Duration: 13 minutes
Course Points: 10

Avinash Tanna, Business Solutions Consultant – Asia-Pacific, Accuity speaks about More Power to Compliance: Enabling Ease of AML CFT Screening in this presentation from Fintelekt Asia AML/CFT 3rd Annual Summit 2021, held virtually from July 5-9, 2021.

Expert Speak: Douglas Wolfson, LexisNexis Risk Solutions

Course Duration: 23 minutes
Course Points: 20

Douglas Wolfson, Director – Market Planning, FCC & Payments, LexisNexis Risk Solutions speaks about KYX – Know Everything in this presentation from Fintelekt Asia AML/CFT 3rd Annual Summit 2021, held virtually from July 5-9, 2021.

Webinar: Optimizing AML Screening

Course Duration: 65 minutes
Course Points: 60

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 “Optimizing AML Screening” and was aired on September 9, 2020.

Speakers:

  • DOUGLAS WOLFSON, Director, Financial Crime Compliance – Asia, LexisNexis Risk Solutions
  • VIJAY GOPALADESIKAN, Head – FCC Screening Product & List Management, Group Financial Crime Compliance, Standard Chartered Bank
  • DAYANAND PRASAD, Principal Officer – AML & KYC Compliance, Emirates NBD Bank (P.J.S.C)

Key discussion points in the webinar include:

  • Risks vs Operation Effectiveness
  • Compliance Challenges and False Positives
  • How to Build a Functional e-KYC Program
  • Determining Efficiency and Effectiveness
  • Dealing with Implementation Challenges and Knowledge Building
  • Practical Advice for Screening and List Management
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