Fintelekt and the Asian Bankers Association jointly organised a virtual workshop on Red Flag Indicators (RFIs) in Anti-Money Laundering (AML) on February 2, 2024 via Zoom.

The resource person for the workshop was Justin Muscolino, International Regulatory Compliance Training Expert based in the United States, who is also an empaneled trainer with Fintelekt. Arpita Bedekar, Director, Strategy and Planning, Fintelekt facilitated the workshop.

 The virtual workshop gathered over 100 participants from more than 15 countries and 28 different institutions, including banks, insurance companies, mutual funds, money remittance companies, regulatory bodies, and technology companies.

The world of AML is complex with a lot of different moving components. For AML staff, it is vital not only to understand the importance of red flags and techniques to apply them, but also the impact that they have on roles and responsibilities within the financial institution. Understanding when red flags occur and how they are investigated properly, could mean the difference between incurring regulatory enforcement and doing the right thing for your institution.

During the training, Justin discussed the background of AML and changing regulatory expectations and the types of red flags that staff encounter during day-to-day roles while providing real-life examples and case studies.

It was an interactive programme, with attendees using the opportunity to ask questions and to seek opinions from Justin about day-to-day and operational queries.

All attendees received a Fintelekt-Asian Bankers Association Certificate of Completion for participating in the workshop.

A short video clip of the training session can be viewed at the ABA YouTube channel below.