The Asian Bankers Association and Fintelekt Advisory Services, an ABA Knowledge Partner, are inviting ABA members and friends to join the Virtual Workshop on Detection and Prevention of Money Mule Accounts to be held on Thursday, August 29, 2024 from 2.00 pm to 4.00 pm SGT/Taipei

Introduction

In the ever-evolving landscape of financial crime, money mule accounts present a significant challenge to financial institutions and governments alike. These accounts are often used to launder illicit funds, making it difficult for authorities to trace the origins of criminal proceeds. The proliferation of money mule accounts can lead to severe financial losses, reputational damage, and regulatory penalties for financial institutions.

This Fintelekt-ABA workshop is designed to provide participants with learnings and insights into:

• Typical money mule networks.
• Money laundering and terrorist financing risks posed to the organization by money mules.
• Emerging trends and techniques used by criminals for recruiting and exploiting money mules.
• Typically observed red flags or warning signs for identifying potential money mule activity.
• Various identifiers that can be leveraged to detect money mule accounts.
• Proactive strategies and innovative approaches that can be organized to protect the organization and its customers.

Key Learning Objectives

• Understand how to recognize the signs and patterns indicative of money mule operations within financial transactions and customer behavior
• Learn about AML frameworks and CDD processes required to prevent the establishment and utilization of money mule accounts
• Learn about available analytics and transaction monitoring tools to detect and respond to suspicious activities in real-time, enhancing overall institutional defenses.

Workshop Trainer

 Sharad Nair

Sharad has an experience of 28 years in various aspects of banking. He has held portfolios including heading credit & forex, branch banking, learning and development and has a successful track record of working in Foreign Banks and Private Sector Banks in India and the Middle East. Sharad had a long stint with Axis Bank, India where he was Principal Officer and Head AML Compliance.

Registration

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

Please click on the link below to pay online via credit/debit card and register for this workshop. ABA members can avail two free registrations per institution for this workshop. To get nominated under the free registration, please contact the local ABA liaison at your institution.

Online Payment and Registration

For enquiries, contact Oliver Dickson, +91 98231 88864 / +91 93700 78917, oliver@fintelekt.com

About Fintelekt

Fintelekt Advisory Services Pvt Ltd is one of the Knowledge Partners of the ABA. It is a specialist in training and advisory in anti-money laundering (AML) and countering the financing of terrorism (CFT) within banking and financial services sectors.
It systematically invests its time and effort in building the skill level of professionals working in the banking and financial sector by assimilating and dispensing industry-reviewed best practices and knowledge.