Course Duration: 24 minutes
Course Points: 20
In this episode of Fridays with Fintelekt, Shirish Pathak, Managing Director, Fintelekt is in conversation with Alia Mahmud, Global Regulatory Affairs Specialist, ComplyAdvantage.
Alia shares her opinion about the challenges compliance professionals face on a day-to-day basis, and on top of the list are the need for a robust governance framework and a strong second line of defense. She covers how metaverse has proved to be an exciting innovation, but comes with it’s own set of challenges, risks, and new money laundering and fraud typologies.
She then talks about Environmental, Social and Governance (ESG) Crimes, and how they have become one of the most destructive, lucrative and fast growing crimes. The conversation includes identifiers / risk indicators that can be added to transaction monitoring systems, so that these crimes can be detected and caught by financial institutions.
Alia stresses on how technology can be used to improve the quality of reporting by financial institutions, which is one of the biggest challenges faced by regulators globally.