The Asian Bankers Association (ABA) and Fintelekt Advisory Services are organizing a virtual workshop on Enhanced Due Diligence (EDD) to be held on 3 December 2024 from 11AM to 1PM Taipei Time.

Overview

The workshop is designed to equip compliance professionals from financial institutions across Asia with the knowledge and skills needed to manage high-risk customers and transactions effectively. The workshop will provide a deep dive into key EDD components such as beneficial ownership identification, source of wealth and funds verification, and enhanced monitoring techniques. Participants will gain insight into how financial institutions can mitigate risks associated with high-risk customers, complex ownership structures, and politically exposed persons (PEPs).

This instructor-led live virtual workshop (delivered via Zoom) will aim to help participants:

• Understand the distinction between standard Customer Due Diligence (CDD) and Enhanced Due Diligence.
• Identify key triggers for EDD, such as high-risk customers, PEPs, large transactions, and complex financial structures.
• Learn the core elements of EDD, including identifying beneficial ownership and verifying the source of wealth and funds.
• Explore methods for conducting enhanced monitoring and transaction scrutiny for high-risk customers.
• Analyze real-world case studies to see how EDD is applied in practice and identify potential risks.

Key Learning Objectives

• Differentiate between Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) and understand their respective roles in risk management.
• Identify situations that trigger the need for EDD, including the presence of high-risk clients, politically exposed persons (PEPs), and complex financial structures.
• Apply key components of EDD, such as verifying beneficial ownership, assessing the legitimacy of source of wealth and funds, and conducting ongoing monitoring.
• Use real-world case studies to recognize red flags and implement EDD in practical scenarios.
• Understand various measures and best practices to help strengthen the institution’s risk management framework.

Workshop Trainer

Chen Jee Meng

As the Head of Financial Crime & Compliance at Maybank Singapore, Jee Meng is responsible for overseeing and managing all aspects of financial crime prevention to ensure alignment with regulatory requirements and business objectives. He works closely with the regulatory authority and industry bodies on regulatory compliance matters, and with internal stakeholders, including legal, audit, and risk management teams, to ensure a cohesive approach to financial crime prevention.

Prior to Maybank, Jee Meng has held various compliance roles in financial institutions such as Societe Generale Private Bank, Standard Chartered Bank and Hong Kong and Shanghai Banking Corporation. He has also participated in several ACIP working groups, for example, Risk Surveillance, Data Analytics, Digital Assets, etc.

With an experience of over 28 years, Jee Meng engages and participates in several local and international conferences such as Documentary Credit World as a guest speaker on financial crime compliance related topics. He has also conducted training at several organisations, including the Institute of Singapore Chartered Accountants and the Association of Banks in Singapore.

Jee Meng has contributed articles on risk management and financial crimes since 2001, which have been published in leading and international journals such as the Risk Management Association journal, Documentary Credit Word, OpRisk Journal, the International Compliance Association publication, etc.

Jee Meng is an empaneled trainer with Fintelekt.

Registration

Participation Fee: USD 50 per person (includes access to recording and Certificate of Completion)

Please click HERE to pay online via credit/debit card and register for this workshop.

ABA members can avail of two free registrations per institution for this workshop. To get nominated under the free registration, please contact the designated ABA liaison at your institution.

For enquiries, please contact:

Oliver Dickson, VP Sales, +91 98231 88864 / +91 93700 78917, oliver@fintelekt.com