Web seminar

Implementing Anti Money Laundering Programs in Indian Banks and Financial Institutions.
- Ashvin D Parekh, Deloitte Touche Tohmatsu

Thursday, July 15th
11:00am - 12:00pm New Delhi Standard Time
1:30pm - 2:30pm Singapore Standard Time
2:30pm - 3:30pm Tokyo Standard Time
3:30pm - 4:30pm Sydney Time
5:30pm - 6:30pm New Zealand Time
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In the aftermath of the events of 9/11 and subsequent expectations from global regulators, various countries have developed regulations to tackle the Money Laundering activities. Banks have embarked on a series of risk management initiatives in relation to effective implementation of Anti-money Laundering practices within the entire bank. In the wake of international transactions and cross-border transfer of funds, it is important for Banks in India to understand the Regulatory requirements outside India that need to be factored in its AML policies and procedures being implemented. In summary, AML practices include:

• Defining Bank’s group policy and compliance framework
• Development of staff training
• Establishment of an annual AML compliance testing process within the business units
• Expanding and enforcing new account opening and customer identification procedures
• Systems improvements including the implementation of payment filtering against suspected terrorist names, centralization of cross border SWIFT; and enhancements to customer database searches for suspected terrorist names in India and countries in which Bank proposed to do business.

Learning objectives for this seminar

• A Bank's AML policy & procedures should result in the following:
• Compliance with applicable regulations
• Risk-Tier based classification of customers and products (such as classified into high/medium/low risk categories)
• Enhanced due diligence for higher risk tiers of customer/product segment combinations
• Identification of suspicious transaction patterns and continuous suspicious transaction monitoring

Participant level of understanding
This program is intended for participants with a basic or intermediate level of understanding on the topic.

Questions about this Upcoming Web Seminar?
call: 1-503-531-5600 or email: concierge@bettermanagement.com

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