Fintelekt, along with The Karad Urban Cooperative Bank organised a training session on AML/CFT in Karad on June 19th. More than 200 participants from 77 cooperative banks in and around the region attended the programme, which was held in the well-equipped auditorium of Karad Urban Bank in Karad city.
Vasud Torsekar, Joint-Director, Financial Intelligence Unit of India (FIU-IND) was the special invitee at the session. She addressed the AML/CFT challenges faced by cooperative banks, suggested mitigation measures and clarified their understanding of reporting guidelines. A question-answer session held after her talk was particularly useful for attendees. The entire programme was conducted in the local language, Marathi, which made it easier for attendees to understand the content and interact with the FIU-IND representative.
Other speakers at the training session were Arpita Bedekar, Director – Strategy and Planning, Fintelekt who set the context and presented an analysis from Fintelekt surveys on AML/CFT practices in Asia, and Amita Ajgaonkar, Trainer Fintelekt and Consultant – AML/CFT with RBL Bank who provided practical guidance on reporting and monitoring based on her experience.
The session was inaugurated by Dr. Subhash S. Erram, Chairman and Subhashrao R. Joshi, Ex-Chairman of Karad Urban Bank and Shirish Pathak, Managing Director, Fintelekt. The closing remarks were made by C.A. Dilip M. Gurav, CEO of the Bank. Amit Retharekar, Principal Officer and Head KYC/AML Cell of Karad Urban Bank played a key role in organising and moderating the entire programme.