The Asian Bankers Association (ABA) is inviting ABA members and selected guests to participate in the short-term visiting program on “Best Practices in Managing the AML/CFT Risk from Fintech and Digital Payments” that Fintelekt Advisory Services (Fintelekt) will jointly host with the ABA  in Mumbai, India on 12-13 October 2023.

India has a vibrant fintech sector, with the highest number of fintechs constituting the payments sector. The rapid growth in digital payments has translated to an increasing money laundering and terrorist financing risk for all players of the financial services industry. The objective of this Short Term Visiting Program will be to:

 

• Understand the money laundering and terrorist financing (ML/TF) risks in fintechs and digital payments
• Understand the anti-money laundering (AML) and countering the financing of terrorism (CFT) governance and operational requirements to counter the ML/TF risks – both for banks and fintechs
• Benefit from the experiences of banks and fintechs in India
• Learn from some of the nation-wide initiatives adopted such as Aadhar, the national common KYC registry (C-KYC), the unified payments interface (UPI) and others
• Understand the new trends and advancements in AML/CFT technology

 

The ABA encourages you and your colleague to take advantage of this opportunity to have interactions with senior AML compliance leaders from leading banks and fintechs in India to enable you to enhance and upgrade your skills and knowledge in the area of AML/CFT.

 

PROGRAM OUTLINE

 

Day One: Thursday, October 12

9.30 am – 9.45 am Welcome Note by Fintelekt & Asian Bankers Association
Shirish Pathak, Managing Director, Fintelekt Advisory Services
Mig Moreno, Deputy Secretary-Treasurer, Asian Bankers Association

9.45 am – 10.45 am Emerging AML/CFT Risk Factors in Fintech and Digital Payments
Speaker (TBA)

10.45 am – 11.15 am Refreshments and Tea/Coffee

11.15 am – 12.45 pm AML/CFT Risk Assessments and Applying a Risk-Based Approach
Speaker (TBA)

12.45 pm – 1.45 pm Networking Lunch Hosted by Fintelekt

1.45 pm – 3.00 pm Managing AML/CFT Risks in a Fintech
Speaker (TBA)

3.00 pm – 3.15 pm Refreshments and Tea/Coffee

3.15 pm – 4.30 pm Managing AML/CFT Risks in a Payment Systems Company
Speaker (TBA)

 

Day Two: Friday, October 13

9.30 am – 11.00 am Managing Regulatory Expectations
Speaker (TBA)

11.00 am – 11.15 am Refreshments and Tea/Coffee

11.15 am – 12.45 pm Aadhar and C-KYC – A Winning Combo for Financial Institutions in India
Speaker (TBA)

12.45 pm – 1.45 pm Networking Lunch Hosted by Fintelekt

1.45 pm – 2.30 pm Financial Crime Technology Trends
Speaker (TBA)

2.30 pm – 3.15 pm Discussion on Initiatives across Financial Institutions in Asia and Experiences of Participants in Managing AML/CFT Risks
All attendees, facilitated by Fintelekt

3.15 pm – 3.45 pm Vote of Thanks & Closing Session
Fintelekt Advisory Services and Asian Bankers Association

 

* Program outline may undergo changes depending on speaker availability.

 

PARTICIPATION FEE

ABA member-banks will participate for a nominal fee of USD 200. However, non-members  will be charged a fee of USD 500.

In addition, participants (from both ABA-member and non-member institutions) are expected to cover their airfare, hotel accommodation, airport & local transfers and meals (some meals will be hosted by Fintelekt; details are in the program outline).

 

VENUE

To be announced.

 

ACCOMMODATION

Participants may stay at any of the following suggested hotels:

(1) Hotel Orchid, T1, 70-C, Nehru Rd, Navpada, Vile Parle East, Mumbai 400099 (Booking link)
(2) Hotel Radisson Blu Mumbai International Airport, Marol Maroshi Road, Near Marol Metro Station, Andheri East, Mumbai-400059 (Booking link)
(3) Hotel Ibis, Plot No F 77, Junction of Nehru Road, Western Express Highway, Vile-Parle East, Mumbai 400099 (Booking link)
(4) Hotel Residency, 213/1, Suren Rd, Gundavali, Andheri East, Mumbai 400093 (Booking link)

Participants are advised to book hotel rooms inclusive of breakfast, wi-fi and airport transfers.

 

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.

 

FINTELEKT CONTACT PERSON

Ms Arpita Bedekar, Director – Strategy & Planning, Fintelekt Advisory Services.
Email: arpita@fintelekt.com
Mobile: +91 8007604530

 

REGISTRATION

Please register now HERE before September 30, 2023.
Should you have further questions, email to aba@aba.org.tw