Shows
Compliance TimeLeveraging Technology for Smoother Compliance ProcessesSend a Text Message to Denitsa and Compliance Time.Guest on the podcast is a passionate compliance specialist who has experience in the first and second line of defense: Ekta Singh. She brings a wealth of knowledge and awareness of ethics, compliance, business management, current industry trends, and technological advancement in the Fintech, regulatory compliance, and RegTech areas. Ekta has a forward-looking approach to managing compliance and operational challenges. She has been in the Financial Industry for more than a decade and in her professional career she adored the role of Financial advisor, supervisor, Sales management, business...
2023-10-1646 min
Fridays with FintelektFridays with Fintelekt featuring Alia Mahmud, ComplyAdvantageIn 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) Cr...
2023-02-1024 min
Fridays with FintelektFridays with Fintelekt featuring Robin Lee, NapierIn this week’s Fridays with Fintelekt episode, Shirish Pathak, Managing Director, Fintelekt Advisory Services is in conversation with Robin Lee, Head of APAC, Napier.
The conversation begins with Robin’s career path that has led to his current position at Napier, and how his experience has given him insights into the key issues faced by compliance officers in the Anti-Money Laundering (AML) industry.
Robin highlights the important role technology plays in improving quality of reporting, keeping bad actors from misusing the financial system, and making financial institutions more compliant.
He speaks about fact...
2023-01-0641 min
Fridays with FintelektFridays with Fintelekt featuring Maria Nizzero, Royal United Services Institute (RUSI)In this episode of Fridays with Fintelekt, Shirish Pathak, Managing Director, Fintelekt is in conversation with Maria Nizzero, Research Fellow, Centre for Financial Crime and Security Studies, Royal United Services Institute (RUSI) about RUSI’s latest research on the Illicit Finance Threat to Democracies.
The research, primarily based on the transatlantic response to illicit finance, proposes 7 straightforward action items based on 3 underlying principles. The action items have universal applicability and hence the research can be valuable for policy makers across the world.
2022-11-2533 min
Fridays with FintelektFridays with Fintelekt featuring Lakshmi Kumar, Global Financial Integrity, Washington and Mark Nuttall, Thomson Reuters, SingaporeIn this new season of Fridays with Fintelekt, Shirish Pathak, Managing Director, Fintelekt Advisory Services is in conversation with Lakshmi Kumar, Director of Policy at Global Financial Integrity, Washington and Mark Nuttall, Director of Risk for APAC and MENA at Thomson Reuters, Singapore.
The conversation revolved around the changing structure of supply chains due to various recent geo-political incidents, how these changes are affecting global trade, the consequence on the money laundering and terrorist financing risks, and therefore how regulators, banks and financial institutions should prepare.
2022-11-1452 min
Fridays with FintelektFridays with Fintelekt featuring Chrisol Correia, Financial Crime Compliance ConsultantOn Fridays with Fintelekt today, Shirish Pathak, Managing Director, Fintelekt Advisory Services hosts Chrisol Correia, Financial Crime Compliance Consultant based in London.
In his career spanning two decades, Chrisol has witnessed the evolution of the financial crime compliance function in terms of capability, resources, scale, infrastructure and culture and towards a broader understanding that good compliance is a business enabler and not a blocker.
In the episode, Chrisol speaks on a variety of issues such as the benefits of technology for smaller institutions, regulatory expectations around risks and controls, collaborative analytics and information sharing.
2022-03-1117 min
Fridays with FintelektFridays with Fintelekt featuring Tadeo Jun Claravall, The Financial CrimesA milestone is reached for Fridays with Fintelekt today as Shirish Pathak, Managing Director, Fintelekt hosts his 50th guest Tadeo Jun Claravall, Founder, The Financial Crimes, and a student and teacher of financial crime risk and compliance.
In the conversation, Jun explains the motivation behind his recently published book, Financial Crime Fighter – Book of Mentors, which is a collaboration with 30 global leaders in anti-financial crime.
His goal for the book is to provide financial crime fighters all over the world with a secret weapon - access to advice, experiences and guidance from 30 global leaders as me...
2021-11-2623 min
Fridays with FintelektFridays with Fintelekt featuring Peter Piatetsky, Castellum.AIOn Fridays with Fintelekt today, hear from Peter Piatetsky, Co-Founder and CEO, Castellum.AI as he provides his expert comments and analysis on the global sanctions regime, with host Shirish Pathak, Managing Director, Fintelekt.
Peter has had a stint supporting US military operations and then with the US Treasury as senior policy advisory for Iran. His experience on the challenges in accessing data on sanctions led him to found Castellum.AI with the mission of building a 'google' for compliance, an easy to access online platform at an affordable price point so that anyone globally can find c...
2021-10-0125 min
Fridays with FintelektFridays with Fintelekt featuring Ross Delston, Attorney & Expert WitnessOn Fridays with Fintelekt this week, host Shirish Pathak, Managing Director, Fintelekt is joined by Ross Delston, Expert witness, attorney & former US banking regulator (FDIC), who shares his varied experiences in policy responses to trade-based money laundering and trade-based terrorist financing, anti-corruption, corporate transparency and the risks from new technologies.
Our key picks from this interesting conversation full of anecdotes and experiences from Ross's long career are:
There hasn't been much progress in combating TBML and that all elements in the trade supply chain should be covered by an AML programme, and made to file STR r...
2021-09-1730 min
Fridays with FintelektFridays with Fintelekt featuring Dr. J. Michael Skiba, International Financial Crime ExpertFridays with Fintelekt today features J Michael Skiba, international financial crime expert, with host Shirish Pathak, Managing Director, Fintelekt Advisory Services in a conversation around fraud. Michael, popularly known as Dr. Fraud, has had several years of experience helping individuals and corporations become safer against frauds, scams and schemes.
Michael's experience shows that in the financial services sector, fraud is more a matter of opportunities, as 96% of people committing fraud have no criminal history. He says that the Covid-19 pandemic has changed many aspects of the ecosystem due to the transition to work from home, creating gaps...
2021-09-1021 min
Fridays with FintelektFridays with Fintelekt featuring Jessica Davis, Insight Threat IntelligenceFridays with Fintelekt today features Jessica Davis, President, Insight Threat Intelligence, an expert on terrorist and illicit financing, with host Shirish Pathak, Managing Director, Fintelekt Advisory Services.
Jessica explains the implications of the complex situation in Afghanistan, and the likely evolution of Al Qaeda, ISIL-KP, their own strategic objectives and their relationship with the Taliban in the region. All of these groups are drawing resources from Afghanistan, but counter terrorism financing (CTF) options with the global community are fairly limited, especially without any CTF forces on the ground.
On CTF methods in general, Jessica strongly bel...
2021-09-0336 min
Fridays with FintelektFridays with Fintelekt featuring Shawki Ahwash, North Africa Commercial BankThis week Fridays with Fintelekt hosted by Shirish Pathak, Managing Director, Fintelekt features Shawki Ahwash, Head of AML/CFT & Sanctions Division North Africa Commercial Bank from Beirut, Lebanon.
A career banker, Shawki enjoys sharing the knowledge that he has gained with others through training and teaching. He feels that AML/CFT is a dynamic and evolving field and technology has changed everything about it - be it onboarding, profiling or monitoring of customers and transactions.
During the Covid-19 pandemic, banks have had to take proactive measures to combat fraud and cybercrime and have had to s...
2021-08-2723 min
Fridays with FintelektFridays with Fintelekt featuring Bharath Vellore, LexisNexis Risk SolutionsThis week on Fridays with Fintelekt, Shirish Pathak, Managing Director, Fintelekt is in conversation with Bharath Vellore, Managing Director, APAC, LexisNexis Risk Solutions on a variety of issues within financial crime compliance and the role of technology.
Some insights shared from Bharath's decade-long experience working with Accuity and now with LexisNexis:
- There is a lot of progress in the awareness of money laundering risks across sectors and across types of institutions. While banks have had years of experience and knowledge around compliance, the intent to comply is present within newer sectors like fintechs or...
2021-08-2032 min
Fridays with FintelektFridays with Fintelekt featuring Sofia El Mansouri, Compliantly LLCThis week on Fridays with Fintelekt, Shirish Pathak, Managing Director, Fintelekt converses with Sofia El Mansouri, Compliance Consultant from Lebanon, also known as The Compliance Lady.
Anti-corruption and the impact of the Covid-19 pandemic feature primarily in this episode, with Sofia explaining noteworthy developments and global anti-corruption initiatives over the last few years. She specifically emphasises the role of the non-financial sectors and professional enablers in transnational corruption and whitewashing of financial crime proceeds.
The impact of the pandemic has been significant and raised considerable risks of questionable commissions, kickbacks, over inflated prices, and facilitation...
2021-08-1321 min
Fridays with FintelektFridays with Fintelekt featuring Leah Callon-Butler, EmfarsisIn this episode of Fridays with Fintelekt, host Shirish Pathak, Managing Director, Fintelekt Advisory Services is in conversation with Leah Callon-Butler, Director, Emfarsis on cryptocurrency and blockchain adoption, its challenges and potential benefits to society.
Leah’s company Emfarsis, helps early stage companies with their product to market fit. She says that often when a new technology is evolving, it isn’t clear to consumers how it can solve their needs. The same goes for blockchain and cryptocurrencies and Leah works to tell the right stories about how this technology can improve people’s lives.
An example...
2021-07-1630 min
Fridays with FintelektFridays with Fintelekt featuring Colin Camp, Pelican.aiOn Fridays with Fintelekt this week, Colin Camp, Senior Director, Business Development and Sales, APAC of Pelican is in conversation with Shirish Pathak, Managing Director, Fintelekt Advisory Services on access to data, artificial intelligence and financial crime compliance.
According to Colin, the only way banks can get on top of their compliance issues now is to be smarter and use modern technology.
Financial institutions need not rip off their old technology for new, but to look at how AI solutions can be used to supplement and improve the existing applications and to make compliance more...
2021-07-0225 min
Fridays with FintelektFridays with Fintelekt featuring F. Christopher Calabia, Bill & Melinda Gates FoundationOn this episode of Fridays with Fintelekt. Shirish Pathak, Managing Director, Fintelekt Advisory Services is in conversation with F. Christopher Calabia, Senior Advisor, Supervisory & Regulatory Policy, Bill & Melinda Gates Foundation about financial inclusion and the role of digital financial services.
The Gates Foundation supports work that addresses inequities in healthcare, education and economic empowerment, especially for women and girls and believes that access to digital financial tools allows the unbanked and underbanked sections of the population to lift themselves and their families out of poverty sustainably.
The Foundation therefore has a direct interest in promoting a...
2021-06-2519 min
Fridays with FintelektFridays with Fintelekt featuring Irfan Yar, Global Counter-Terrorism Institute LLCOn Fridays with Fintelekt today, Shirish Pathak, Managing Director, Fintelekt is in conversation with Irfan Yar, Research Fellow, Global Counter Terrorism Institute.
Irfan questions the progress achieved by regulation and advancements in technology in curbing terrorism financing, when ironically the scale of global terrorism is increasing.
He believes the primary reason is due to the focus on curbing the conventional methods of terror financing such as banking, charitable donations or wire transfers, while ignoring the role of state sponsorship, which is the biggest income source for terrorism. He also highlights the correlation between terrorism and...
2021-06-1824 min
Fridays with FintelektFridays with Fintelekt featuring Dr David Utzke, Cryptoeconomics & DLT ExpertIn this episode of Fridays with Fintelekt, join in for a unique insight into the world of crypto as Shirish Pathak, Managing Director, Fintelekt Advisory Services hosts Dr. David Utzke, Associate Professor at University of Advancing Technology & U.S. Treasury IRS CID Cybercrimes Unit.
Speaking from years of research and experience in distributed ledger technology (DLT) and blockchain, David provides a historical perspective to the development of cryptocurrencies, clarifies many of the prevailing misconceptions, explains the challenges in regulating the space, and provides his take on the future of money.
Understanding the technology, he says...
2021-06-1133 min
Fridays with FintelektFridays with Fintelekt featuring Isabella Chase, Royal United Services InstituteIn this episode of Fridays with Fintelekt, Shirish Pathak, Managing Director, Fintelekt Advisory Services is in conversation with Isabella Chase, Research Fellow at Centre for Financial Crime and Security Studies (CFCS), Royal United Services Institute.
Isabella speaks about the motivation behind RUSI's latest research on understanding and evaluating the impact of the FATF framework on financial inclusion, and how the pandemic triggered a fresh urgency to understand the barriers to financial inclusion as governments around the world rushed to get disbursement and support payments to their populations. The risk-based approach allows for identification of low-risk scenarios and...
2021-06-0423 min
Fridays with FintelektFridays with Fintelekt featuring Tom Cardamone, Global Financial IntegrityThis episode of Fridays with Fintelekt features a conversation between Shirish Pathak, Managing Director, Fintelekt and Tom Cardamone, President & CEO, Global Financial Integrity.
In this episode, Tom speaks about -
Overview of Global Financial Integrity (GFI) and the ecosystem they impact; Impact of GFI’s work on illicit financial flows across the globe; Understanding of integrity in the global financial system; Difficulties associated with promoting transparency, transnational crime and corruption; Customs corruption in trade transactions; GFTrade’s contribution to the governments to enhance integrity of trade; Current AML Ecosystem; Challenges GFI faces; Vision of GFI
2021-05-2728 min
Fridays with FintelektFridays with Fintelekt featuring Richard Wood and Tim Holt, AgenciaThis episode of Fridays with Fintelekt features a conversation between Shirish Pathak, Managing Director, Fintelekt and Richard Wood & Tim Holt, Agencia.
In this episode, Richard & Tim speaks about -
Priority areas for banks and other financial institutions to address to make their AML/CFT frameworks more effective; Quality of STR reporting; Gaps in the investigations system and policing from an AML point of view; Expectations of law enforcement or intelligence agencies from banks and financial institutions; Recommendation to regulators and banking sector to understand better and identify and mitigate risks associated with Covid-19; Benefits of...
2021-05-0849 min
Fridays with FintelektFridays with Fintelekt featuring Edgar Lopez, Gibraltar Financial Intelligence UnitThis episode of Fridays with Fintelekt features a conversation between Shirish Pathak, Managing Director, Fintelekt and Edgar Lopez, Gibraltar Financial Intelligence Unit.
In this episode, Edgar speaks about -
Notable achievements of Gibraltar FIU; Highlights of the National Risk Assessment (NRA) conducted by Gibraltar in 2020; Difference between running an NRA for a financial centre, like Gibraltar as compared to any other mainstream jurisdiction; Improving the understanding of terror financing risk and strengthening the quality of Suspicious Transaction Reports; Framework for international co-operation; Expectations from reporting entities.
2021-05-0828 min
Fridays with FintelektFridays with Fintelekt featuring Claire Wilson, Consultant & Chairperson, HKICPA Disciplinary PanelThis episode of Fridays with Fintelekt features a conversation between Shirish Pathak, Managing Director, Fintelekt and Claire Wilson, Consultant & Chairperson, HKICPA Disciplinary Panel.
In this episode, Claire speaks about -
Key findings of the paper “Cryptocurrency: The Future of Finance?” published by Claire in 2019; Major developments in virtual currencies; Impact of large companies investing in Bitcoin on the cryptocurrency ecosystem; Banning cryptocurrencies and its impact; Advice to governments on the fence that are neither banning nor allowing crypto trading; Advice to compliance professionals on how to protect their financial institutions from risks associated with cryptocurrencies.
2021-05-0819 min
Fridays with FintelektFridays with Fintelekt featuring Jackie Shinfield, Blake, Cassels & Graydon LLPThis episode of Fridays with Fintelekt features a conversation between Shirish Pathak, Managing Director, Fintelekt and Jackie Shinfield, Blake, Cassels & Graydon LLP.
In this episode, Jackie speaks about -
Changes in the regulatory compliance over the years; Recent investigations in Canada and their impact; Need for regulators to keep up with the private sector; Regulations in payments industry; Advice to compliance professionals and much more.
2021-04-0919 min
Fridays with FintelektFridays with Fintelekt featuring Sujata Dasgupta, Global Head - Financial Crime Compliance Advisory, Tata Consultancy ServicesThis episode of Fridays with Fintelekt features a conversation between Shirish Pathak, Managing Director, Fintelekt and Sujata Dasgupta, Global Head - Financial Crime Compliance Advisory, Tata Consultancy Services.
In this episode, Sujata speaks about -
Technology trends in AML/CFT Compliance and the role of employees of reporting entities evolving as a result; Impact of emergence of FinTech and RegTech on large IT services or product technology companies in the AML/CFT ecosystem; Effectiveness of penalties issued by regulators; Awareness of AML Compliance in the smaller/regional financial institutions and lacunae in the banking/financial...
2021-03-2621 min
Fridays with FintelektFridays with Fintelekt featuring Dawne Spicer, Executive Director, Caribbean Financial Action Task Force (CFATF)This episode of Fridays with Fintelekt features a conversation between Shirish Pathak, Managing Director, Fintelekt and Dawne Spicer, Executive Director, Caribbean Financial Action Task Force (CFATF).
In this episode, Dawne speaks about -
AML/CFT compliance challenges faced by CFATF members and advantages of being part of smaller jurisdictions; Measures taken by Caribbean countries to improve their AML/CFT regulation and supervision; Cryptocurrency regulations and evolving ecosystem; Risks emerging as a result of Covid-19 pandemic in the Caribbean region; The Liechtenstein Initiative and banking perception of human trafficking and modern slavery as an AML/CFT...
2021-03-2527 min
Fridays with FintelektFridays with Fintelekt featuring Mark Nuttall, Hill & Associates LimitedThis episode of Fridays with Fintelekt features a conversation between Shirish Pathak, Managing Director, Fintelekt and Mark Nuttall, Hill & Associates Limited.
In this episode, Mark speaks about -
Reasons for low rate of conviction or asset confiscation related to money laundering and terrorist financing crime; Challenges faced by AML/CFT ecosystem because of crime becoming increasingly multinational; Ways in which AML/CFT stakeholders can become better engaged with combating crimes like human trafficking, wildlife trafficking and other environmental crimes; Increasing efficiency in international cooperation and need for rationalization in the existing cooperation mechanisms; Information sharing...
2021-03-2534 min
Fridays with FintelektFridays with Fintelekt featuring Dr. Christian Kaunert, International Centre for Policing and SecurityThis episode of Fridays with Fintelekt features a conversation between Shirish Pathak, Managing Director, Fintelekt and Dr. Christian Kaunert, International Centre for Policing and Security.
In this episode, Christian speaks about -
International co-operation around countering terrorism and commonalities in the counter terrorism approaches across various geographies; Success of economic sanctions to combat terrorist; Role of international organizations, like the FATF, in influencing country’s policies and procedures or setting standards and their implementation by organizations; Emerging typologies of terrorism financing as a result of Covid-19 pandemic; Role of banks and other financial institutions in fi...
2021-03-1017 min
Fridays with FintelektFridays with Fintelekt featuring Dr. Scott Roberton, Wildlife Conservation SocietyThis episode of Fridays with Fintelekt features a conversation between Shirish Pathak, Managing Director, Fintelekt and Dr. Scott Roberton, Wildlife Conservation Society.
In this episode, Scott speaks about -
Work that WCS is engaged in globally and Scott’s role within WCS; Challenges faced by WCS; Ways in which wildlife traffickers move money through the financial system; Role of financial sector regulators; Ways of increasing efficiency of banking and financial services sector and their role in curbing wildlife and environmental crime; Co-operation with similar NGOs to achieve better results at a global level.
2021-03-1019 min
Fridays with FintelektFridays with Fintelekt featuring M C Ponnanna, Al Jazeera ExchangeThis episode of Fridays with Fintelekt features a conversation between Shirish Pathak, Managing Director, Fintelekt and M C Ponnanna, Al Jazeera Exchange.
In this episode, Ponnanna speaks about -
Key changes brought in by the new AML Law implemented by Qatar Central Bank; Current stand of cryptocurrencies in Qatar; Risks associated with currency exchange houses; Impact of Covid-19 on operations; Latest trends in technology implementation in the area of AML/CFT Compliance; Factors that should be considered while implementing a new technology.
2021-03-0930 min
Fridays with FintelektFridays with Fintelekt featuring Antoine Karam, United Nations Office on Drugs and Crime (UNODC)This episode of Fridays with Fintelekt features a conversation between Shirish Pathak, Managing Director, Fintelekt and Antoine Karam, United Nations Office on Drugs and Crime (UNODC).
In this episode, Antoine speaks about -
discussion about the software – goAML – developed by UNODC and being used by various Financial Intelligence Units globally; Benefits of using the software; Support provided by UNODC while implementing the software in various countries; Challenges faced during such implementations, Future plans.
2021-03-0922 min
Fridays with FintelektFridays with Fintelekt featuring Diphat Tembo, Director - Supervision and Prevention Department, Financial Intelligence Centre, ZambiaThis episode of Fridays with Fintelekt features a conversation between Shirish Pathak, Managing Director, Fintelekt and Diphat Tembo, Director - Supervision and Prevention Department, Financial Intelligence Centre, Zambia.
In this episode, Diphat speaks about -
the Financial Intelligence Centre (FIC), which functions as the Financial Intelligence Unit (FIU) of Zambia;
summary of the country's level of compliance with the FATF Recommendations and the effectiveness of Zambia’s AML/CFT system, as well as follow up work that has taken place on strengthening the system based on the last mutual evaluation;
key highlights from the FIC's Annual Tr...
2020-11-2026 min
Fridays with FintelektFridays with Fintelekt featuring George Pearmain, Director - Financial Crime Strategy, Government of JerseyThis episode of #FridayswithFintelekt features a conversation between Shirish Pathak, Managing Director, Fintelekt and George Pearmain, Director - Financial Crime Strategy, Government of Jersey, covering a range of topics including -
- the key highlights, findings and recommendations of the recent National Risk Assessment (NRA) that will be useful in other countries gaining a better understanding of the threats and vulnerabilities facing Jersey;
- managing the risk of international finance centres (IFC) facing being used either as placement centres or as transit points for large funds related to money laundering or corruption;
...
2020-11-1219 min
Fridays with FintelektFridays with Fintelekt featuring Alma Angotti, Partner, GuidehouseThis episode of #FridayswithFintelekt features a conversation between Shirish Pathak, Managing Director, Fintelekt and Alma Angotti, Partner and Co-Leader of the Global Investigations and Compliance Practice at Guidehouse. In this episode, Alma speaks about -
- learnings from her long career spanning regulation, advisory and law enforcement;
- the ‘tone from the top’, building a culture of AML/CFT compliance, and reinforcing this across levels within the organisation; understanding where the breakdown in compliance usually happens;
- the challenges that regulators are facing and what might be required to create a more effective system b...
2020-11-0616 min
Fridays with FintelektFridays with Fintelekt featuring Daniel Thelesklaf, AML/CFT and Anti-Corruption Expert and Former Director - Swiss FIU and MoneyvalThis episode of "Fridays with Fintelekt" features a conversation between Shirish Pathak, Managing Director, Fintelekt Advisory Services and Daniel Thelesklaf, AML/CFT and Anti-Corruption Expert and Former Director of the Swiss FIU and Moneyval on:
- Top expectations from banks and other reporting entities and the regional evolution AML/CFT;
- Regulatory arbitrage exploited by money launderers due to differences in regulatory/compliance maturity amongst nations and discussion on specific areas of international co-operation that might result in more consistency in AML frameworks applied across the globe;
- Scope for improvement in effective...
2020-10-2930 min
Fridays with FintelektFridays with Fintelekt featuring Tanya McCartney, CEO and ED, Bahamas Financial Services BoardThis episode of "Fridays with Fintelekt" features a conversation between Shirish Pathak, Managing Director, Fintelekt Advisory Services and Tanya McCartney, CEO and Executive Director, Bahamas Financial Services Board on the role and responsibilities of the Bahamas Financial Services Board; the current level of compliance and effectiveness with the FATF Recommendations and the follow up or remediation work that is underway or specific reforms that have been undertaken towards strengthening the integrity of the AML/CFT regime; whether the FATF process for mutual evaluation and ranking of countries is democratic; practical difficulties that banks and other reporting entities in The Ba...
2020-10-2320 min
Fridays with FintelektFridays with Fintelekt featuring Philip Hunkin, Director - Financial Intelligence Unit, Isle of ManThis episode of "Fridays with Fintelekt" features a conversation between Shirish Pathak, Managing Director, Fintelekt Advisory Services and Philip Hunkin, Director - Financial Intelligence Unit, Isle of Man, on bringing together the financial sector and other reporting entities, both from a regulatory and development point of view; steps that have been taken to strengthen beneficial ownership controls; views on imposing penalties; risk assessment on the impact of COVID-19 in respect of financial crime on the Isle of Man; experiences around public private partnerships; the critical success factors for Isle of Man in ensuring that risks emanating due to money...
2020-10-1623 min
Fridays with FintelektFridays with Fintelekt featuring Ian Pemberton, Criminal Intelligence Officer, INTERPOLThis episode of "Fridays with Fintelekt" features a conversation between Shirish Pathak, Managing Director, Fintelekt Advisory Services and Ian Pemberton, Criminal Intelligence Officer, INTERPOL, on the challenges for policing agencies due to the recent surge in fraud and cybercrime; trends on professional money laundering; critical success factors for public private partnerships; how banks should improve the quality of reporting on terror financing in a way that it is useful for law enforcement agencies to investigate better.
2020-10-0925 min
Fridays with FintelektFridays with Fintelekt featuring Matt Friedman, CEO, The Mekong ClubThis edition of "Fridays with Fintelekt" features a conversation on Modern Slavery, between Shirish Pathak, Managing Director, Fintelekt Advisory Services (https://www.fintelekt.com) and Matt Friedman, CEO, The Mekong Club (https://www.themekongclub.org) on the most challenging aspects of working in the area of countering modern slavery; changes required in the perception of bank compliance officers to detect suspicious transactions and better preparing banks to implement red flag indicators or conduct due diligence more effectively; the nexus between criminals, politicians and the police; and advice to compliance teams on tangible steps they should take to help stop...
2020-10-0218 min
Fridays with FintelektFridays with Fintelekt featuring Dr Elena Scherschneva, Independent Expert and Former Head of Austria FIUThis edition of "Fridays with Fintelekt" features a conversation between Shirish Pathak, Managing Director, Fintelekt Advisory Services (https://www.fintelekt.com) and Dr Elena Scherschneva, Independent Expert (https://www.scherschneva.at) & Former Head of Austria FIU, on the most effective regulatory parts of the Anti-Money Laundering Directive; the priority areas that banks and financial institutions need to address to make their AML/CFT programmes more effective; pointers to improve the quality of suspicious transaction reports; the importance of financial information sharing and public private partnerships; and advice to AML/CFT compliance officers to become more successful in their careers.
2020-09-2522 min
Fridays with FintelektFridays with Fintelekt featuring Dr Rohan Bedi, Singapore Financial Crime Compliance AssociationThis edition of "Fridays with Fintelekt" features a conversation between Shirish Pathak, Managing Director, Fintelekt Advisory Services (www.fintelekt.com) and Dr Rohan Bedi, Executive Director, Singapore Financial Crime Compliance Association (SFCCA) (www.sfcca.com.sg) on the role and objectives of SFCCA; fintechs and bigtechs; AML compliance in digital banking; new AML/CFT challenges; enhancing Enterprise Wide Risk Assessment; effectiveness vs. efficiency while implementing FATF standards; and culture and conduct issues.
2020-09-1824 min
Fridays with FintelektFridays with Fintelekt featuring Julian Dixon, CEO, NapierThis edition of "Fridays with Fintelekt" features a conversation between Shirish Pathak, Managing Director, Fintelekt Advisory Services and Julian Dixon, CEO, Napier on financial crime trends; how should banks be better prepared to identify and deal with risk; differences in robustness of AML/CFT programs in different banks; overcoming automation hurdles; factors motivating banks to use innovation and better technologies for KYC and AML monitoring; and the use of artificial intelligence to facilitate faster and more efficient processing of suspicious transactions reports.
2020-09-1118 min
Fridays with FintelektFridays with Fintelekt featuring Jermy Prenio, Senior Advisor - Financial Stability Institute, Bank for International SettlementsThis episode features a 15 minute conversation between Shirish Pathak, Managing Director, Fintelekt Advisory Services, and Jermy Prenio, Senior Advisor - Financial Stability Institute, Bank for International Settlements, where the following points were discussed-
A brief overview of SupTech, its evolution and current status of adoption, Data-related challenges faced by AML/CFT authorities, Tools developed or being used by both AML/CFT supervisors and FIUs and implementation issues, SupTech success stories that could/should be used by other regulators or FIUs.
2020-08-2115 min
Fridays with FintelektFridays with Fintelekt featuring Ravi Lahoti, Chief Audit Executive, Bandhan BankThis episode features a 20 minute conversation between Shirish Pathak, Managing Director, Fintelekt Advisory Services, and Ravi Lahoti, Chief Audit Executive, Bandhan Bank where the following points were discussed-
The role of audit in the world of AML/CFT, Elements of an effective AML audit and how it should be conducted, How can AML/CFT audit findings be implemented to improve the compliance level in the bank going forward, Misconceptions about AML audits and How can AML audits contribute to increasing the effectiveness of an AML/CFT programme in the organisation.
2020-08-1419 min
Fridays with FintelektFridays with Fintelekt featuring Christiaan Barnard, Head - Financial Intelligence Unit, New ZealandThis episode features a 30 minute conversation between Shirish Pathak, Managing Director, Fintelekt Advisory Services, and Christiaan Barnard, Head - Financial Intelligence Unit, New Zealand where the following points were discussed-
The bringing together of financial sector and other reporting entities from a regulatory and development point of view, Overview of the National Risk Assessment (NRA) on money laundering and terrorist financing was conducted in NZ last year, Trends in filing of suspicious transaction reports and thoughts on quality of reporting, The democracy of the FATF process for mutual evaluation and ranking of countries, Functions and outcomes of...
2020-08-0728 min
Fridays with FintelektFridays with Fintelekt featuring Duncan Jepson, Founder and Managing Director, Liberty SharedThis episode features a 45 minute conversation between Shirish Pathak, Managing Director, Fintelekt Advisory Services, and Duncan Jepson, Founder & Managing Director , Liberty Shared where the following points were discussed-
The extent of modern slavery globally, and geo-political issues that have influenced trends over the last decade, The expansion of modern slavery from being a human rights issue to also being a financial crime issue – the causes, milestones and resultant knowledge for the banking community, Advice to banks and regulators doing enough to better identify and report suspicious transactions related to modern slavery, The relation of proceeds of modern sl...
2020-06-1945 min
Fridays with FintelektFridays with Fintelekt featuring Sandeep Mehra, CEO, Academy of Fraud InvestigationsThis episode features a 20 minute conversation between Shirish Pathak, Managing Director, Fintelekt Advisory Services, and Sandeep Mehra, Chief Executive Officer, Academy of Fraud Investigations where the following points were discussed-
Areas of banking business that are most prone to financial fraud, Reasons for frauds coming to the fore at very late stages when it becomes a major scam, Fraud prevention techniques and pre-requisites for a good investigation team, Building a good working partnership between business, control and investigation teams in the bank, Role of a trained investigation team in assisting with recovering assets, especially in cases of...
2020-06-1320 min
Fridays with FintelektFridays with Fintelekt featuring Sydney Asubo, Executive Director, Financial Intelligence Authority, UgandaThis episode features a 60 minute conversation between Shirish Pathak, Managing Director, Fintelekt Advisory Services, and Sydney Asubo, Executive Director, Financial Intelligence Authority, Uganda at which the following points were discussed-
Overview of the FIA, the challenges it faced since it was formed, and how it galvanized the financial sector and other reporting entities / accountable persons together to ensure adequate reporting of suspicious transactions, Key findings of the NRA, its recommendations, and the subsequent progress in the country in terms of policy implementation, Changes in levels of predicate offences over the last few years, both domestic and trans-national...
2020-06-0557 min
Fridays with FintelektFridays with Fintelekt featuring Liat Shetret, Senior Adviser - Crypto Policy and Regulation, EllipticThis episode features a 30-minute conversation between Shirish Pathak, Managing Director, Fintelekt Advisory Services, and Liat Shetret, Senior Adviser - Crypto Policy and Regulation, Elliptic, at which the following points are discussed:
Trends on cryptocurrencies being used to launder money and subsequent risks and challenges for banks in raising suspicious transaction alerts, The role of blockchain technology to counter specific AML/CFT risks, Intermingling of illicit funds between fiat currency and crypto currency, Regulatory stand across jurisdictions on dealing with cryptocurrencies, Preparing law enforcement agencies, tax authorities and the judiciary to better understand cases involving cryptocurrencies
2020-05-2927 min
Fridays with FintelektFridays with Fintelekt featuring Jonathan Rogerson, Head of Business, Strategy & Direction, APAC South, AccuityThis episode features a 45-minute conversation between Shirish Pathak, Managing Director, Fintelekt Advisory Services, and Jonathan Rogerson, Head of Business, Strategy & Direction, APAC South, Accuity, at which the following points are discussed:
Business drivers for the emergence of digital banks across the region
Impact on digital banking because of COVID-19
Specific AML risks that are emerging as a result of the shift to digital banking, especially due to the face-to-face customer contact model
Considerations for digital banks while performing screening, especially as transactions are real time
Keeping the balance between compliance and competitiveness
Aspects that are likely to att...
2020-05-2647 min
Fridays with FintelektFridays with Fintelekt featuring Dev Odedra, AML Expert (Director), Minerva Strategem ConsultingThis edition of ‘Fridays with Fintelekt’ features a 30-minute conversation between Arpita Bedekar, Director - Strategy & Planning, Fintelekt Advisory Services, and Dev Odedra, AML Expert (Director), Minerva Strategem Consulting, at which the following points are discussed:
Why is media portrayal about AML so sparing, despite the wide-ranging impact of money laundering or terrorism on the general public?
How important would it be to improve the media portrayal of AML especially for the purposes of widening the reporting net and extending it to DNFBPs?
How can different stakeholders - banks, financial institutions, regulators, law enforcement agencies, other gatekeepers - levera...
2020-05-1526 min
Fridays with FintelektFridays with Fintelekt featuring Hala Bou Alwan, Founder and CEO, HBA ConsultancyThis edition of ‘Fridays with Fintelekt’ features a 30-minute conversation between Shirish Pathak, Managing Director, Fintelekt Advisory Services, and Hala Bou Alwan, Founder and CEO, HBA Consultancy at which the following is discussed:
Concerns in the banking industry, especially in the Middle East, with respect to compliance communication
Ensuring proper due diligence when onboarding new customers
Impact of changing customer behaviour and transactions patterns due to the pandemic, and the subsequent identification of suspicious transactions
Recommendations on how banks should protect their systems and customers from emerging cyber risks
Monitoring trade/service based money laundering transactions more effectively to identif...
2020-05-0833 min
Fridays with FintelektFridays with Fintelekt featuring Youngbee Dale, CEO, Dale ConsultingThis podcast features a 30-minute conversation between Shirish Pathak, Managing Director, Fintelekt Advisory Services, and Youngbee Dale, Anti-Trafficking Consultant and CEO of Dale Consulting, at which the following points are discussed:
Issues that governments and policy makers are faced with when dealing with human trafficking
High level statistics outlining the extent of trafficking globally
Is the current pandemic creating situations where trafficking victims are at higher risk now?
Role of bankers and regulators in combating human trafficking
Effective solutions from an awareness and implementation point of view
About Youngbee Dale
Youngbee Dale is a subject ma...
2020-05-0123 min
Fridays with FintelektFridays with Fintelekt featuring Md Abdullah Al Mamun and Chowdhury MAQ SarwarThis edition of ‘Fridays with Fintelekt’ features a 30-minute conversation between Shirish Pathak, Managing Director, Fintelekt Advisory Services; Md. Abdullah Al Mamun, SEVP and CAMLO, Dutch Bangla Bank and General Secretary, AACOBB; and Chowdhury MAQ Sarwar, Ex-DMD, Eastern Bank and Ex-Chairman, AACOBB, Bangladesh at which the following issues are discussed:
Practical difficulties being faced in AML compliance operations, transaction monitoring and reporting
Likelihood of increased regulatory risk due to challenges/possible backlogs in monitoring and meeting reporting timelines
Approach by the regulator in reporting timelines
Preparedness of banks to detect and monitor the perceived increased levels of fraud
Impact on s...
2020-04-2527 min
Fridays with FintelektFridays with Fintelekt featuring Tom Keatinge, Director, Centre for Financial Crime and Security Studies, Royal United Services InstituteAML/CFT: Risk-based Response, Combating Terror Financing and Corruption
This edition of ‘Fridays with Fintelekt’ features a 30-minute conversation between Shirish Pathak, Managing Director, Fintelekt Advisory Services, and Tom Keatinge, Director, Centre for Financial Crime and Security Studies, Royal United Services Institute at which the following issues are discussed:
Understanding changes in the business models of terrorist organisations and organised crime groups due to the pandemic, with increased criminal activity around digital platforms and cyber space;
Recommendation to regulators and banking sector to better understand, identify and mitigate this risk practically and effectively and lessons to be lear...
2020-04-2028 min
Fridays with FintelektFintelekt Podcast - Archana Kotecha, Director and Head of Legal, Liberty SharedIn this Podcast hosted by Shirish Pathak, Managing Director, Fintelekt Advisory Services, he talks to Archana Kotecha, Director and Head of Legal, Liberty Shared about some of the latest typologies associated with human trafficking. Archana shares her views on the imperatives for financial institutions as well as the need for proactive ways to share information and address the issue of modern day slavery and exploitation, which has become one of the fastest growing forms of crime globally.
For more information about Fintelekt Advisory Services, please visit www.fintelekt.com.
2019-12-1321 min
Fridays with FintelektFintelekt Podcast - Russell Wilson - Ex AUSTRACIn this Podcast with Shirish Pathak, Managing Director, Fintelekt Advisory Services, Russell Wilson, ex-General Counsel, AUSTRAC shares his observation on the evolution of AML/CFT policies in Australia in the last few decades and his experience on the challenges faced while drafting AML/CFT policies for AUSTRAC. He also discusses how financial institutions can upgrade the quality of their STRs and reinforce AML governance.
For more information about Fintelekt Advisory Services, please visit www.fintelekt.com.
2019-10-0913 min
Fridays with FintelektFintelekt Podcast – Prashant Muddu – Jocata Financial Advisory and Technology ServicesIn this podcast, Shirish Pathak , Managing Director, Fintelekt Advisory Services, is in conversation with Prashant Muddu, Chief Executive Officer and Managing Director, Jocata Financial Advisory and Technology Services about factors that make the AML programmes of specific banks more robust than that of others, and about the critical success factors and prerequisites for financial institutions to successfully apply machine learning and artificial intelligence to their AML monitoring programmes. He also shares his experiences working with global banks on reducing false positive alerts and optimising their AML systems.
For more information about Fintelekt Advisory Services, please visit www...
2019-10-0913 min
Fridays with FintelektFintelekt Podcast – Nicholas Turner – Clifford ChanceIn this podcast, Shirish Pathak, Managing Director, Fintelekt Advisory Services, converses with Nicholas Turner, Registered Foreign Lawyer, Clifford Chance Hong Kong about the ever changing economic sanctions environment and trends in sanctions enforcement and compliance. Nicholas urges financial institutions to follow a risk-based approach to sanctions screening and discusses the role of newer technologies in reducing the problem of false positive alerts.
For more information about Fintelekt Advisory Services, please visit www.fintelekt.com.
2019-10-0915 min
Fridays with FintelektFintelekt Podcast – Eden DemaIn this Podcast with Shirish Pathak, Managing Director, Fintelekt Advisory Services, Eden Dema, ex-Deputy Governor of the Royal Monetary Authority of Bhutan shares her experiences and challenges with setting up the FIU in Bhutan and the critical success factors for FIU effectiveness. She explains how financial inclusion and financial integrity are mutually reinforcing goals. She also talks about the need for continuously improving the quality of STRs.
For more information about Fintelekt Advisory Services, please visit www.fintelekt.com.
2019-10-0927 min
Fridays with FintelektFintelekt Podcast – Hennie Verbeek-Kusters – Chair, Egmont Group & Head FIU - The NetherlandsIn this Podcast with Shirish Pathak, Managing Director, Fintelekt Advisory Services, Hennie Verbeek-Kusters, Chair of the Egmont Group and Head FIU - The Netherlands gives us an insight about several initiatives taken by the FIU Netherlands, including the theme-based approach to investigation and knowledge joint ventures with educational institutions. She shares her views on issues such as new technology developments and the importance of public-private partnerships in the fight against money laundering.
For more information about Fintelekt Advisory Services, please visit www.fintelekt.com.
2019-10-0922 min