The third of the AML/CFT Webinar Series 2019 jointly organized by ABA and Fintelekt Advisory Services was successfully held on July 10, 2019. Focusing on “Customer Due Diligence Challenges and Best Practices”. The webinar drew the interest of 348 bankers from all over Asia who registered for the one-hour session.

The webinar featured Shirish Pathak, Fintelekt Managing Director as host and three distinguished guest speakers Catherine G. Chiong, Deputy Head of Regional Compliance, Ascend Money, Thailand; Saurabh Nagar, Regional Manager, Business Solutions Group, APAC, Accuity; and Dr. Srinivas Yanamandra, Chief of Compliance, New Development Bank, China, who shared their perspectives on the complexities in customer due diligence and the best practices recommended.

The webinar conversation was accompanied by a PowerPoint presentation featuring procedures to build a stronger AML/CFT regime, as well as the challenges that banking due diligence faces today, especially when taking into account new financial inclusion priorities. Different due diligence scenarios were discussed such as the increase in due diligence work and burden created when a company experiences aggressive growth. Another important issue discussed was the need to use fintech to improve the efficiency of due diligence and also to facilitate regulatory procedures. Regulatory responses to new developments, such as the creation of sandboxes and public-private partnerships were also discussed.

The video of the webinar’s presentation can be accessed in the ABA Youtube channel.

The webinar’s presentation in PDF format can be downloaded HERE.

The review test offered to registered participants can be accessed HERE.

Registered participants who answer the test before July 19 will receive a Certificate of Participation.

Next Webinar

The remaining fourth webinar (lasting one hour) for the year will be held on December 4 and will focus on New Payment Systems and Inherent AML Risks. ABA  encourages both members and non-members to take advantage of this next oppportunity to learn about the AML/CFT challenges within Asia and how to address them.

For more information on the next webinar, please visit http://fintelekt.com/webinars. Participation is free of charge.

About FINTELEKT

Fintelekt Advisory Services is a specialist in research, training and advisory on Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) in Asia. It produces industry research, fosters dialogue and creates opportunities for knowledge sharing between senior executives from banking, financial services and insurance.

Should you have further questions, please write to aba@aba.org.tw