Fintelekt AML/CFT 11th Annual Summit (India) 2022

Summits

Fintelekt AML/CFT 11th Annual Summit (India) 2022

May 10, 2022

Tuesday, 10th May 2022
9.30 am to 5.00 pm Indian Standard Time
Courtyard Marriott, Mumbai International Airport, India

Fintelekt hosted its AML/CFT 11th Annual Summit (India) 2022 on May 10, 2022 after a pandemic-induced hiatus of two years. The Summit provided an opportunity for in-person interaction around AML/CFT in line with our mission of ‘uniting stakeholders towards a stronger AML/CFT regime’.

It is arguably a testing time in India’s AML history, with the looming FATF mutual evaluation after more than a decade. The agenda for the day provided ample scope for strategic dialogue and discussion towards appraising the performance of AML/CFT controls, identifying areas for improvement, and ensuring a longer-term focus on strengthening the AML regime in the country.

Agenda

9:30 am

Keynote Address (Virtual)

Pankaj Kumar Mishra IRS, Director, Financial Intelligence Unit – India (FIU-IND)

10:30 am

Panel Discussion: The Role of the Private Sector in India’s Upcoming FATF Mutual Evaluation

The financial services sector is an important stakeholder in the mutual evaluation process. The panel will discuss expectations from the private sector and focus on measures that can be taken to strengthen the existing processes in line with FATF 40 recommendations.

Moderator
Pramod Khandelwal, Trainer & Consultant, Fintelekt

Panelists:
Jagat Kant Choudhary, Deputy General Manager AML/CFT, State Bank of India
Kevin Gomez, Principal Officer & Head AML Compliance, Axis Bank
Prabhat Gupta, Managing Director – Head – Legal & Compliance and Company Secretary, DBS Bank India

11:30 am

Tea/Coffee Break

11:45 am

Rising Compliance Costs in India– Where we are now | How detrimental it could get | What we need to do

Suresh Vytla,

Sales Director, LexisNexis Risk Solutions

12.15 pm

Panel Discussion: Improving STR Quality and Addressing Regulatory Concerns

Regulators have stressed time and again on ‘live suspicious transaction reports (STRs)’ and highlighted the importance of accurate, complete, and timely STRs to increase their value to law enforcement agencies. The panel will focus on strategies to improve the effectiveness of STRs, especially addressing concerns raised and recommendations provided by the FIU-IND.

Moderator
Charan Rawat, Head of Compliance, Rabobank

Panelists
Amita Ajgaonkar, Senior Vice President, RBL Bank
Jairam Manglani, Country Head, FCC & Principal Officer, Financial Crime Compliance, Standard Chartered Bank
Samir Bhatankar, Interim Principal Officer & Lead-AML & KYC Compliance, IDFC First Bank
Sarita Nair, Senior Vice President and Head – Anti Money Laundering, HDFC Bank
Sharad Nair, Trainer & Consultant, Fintelekt

1:15 pm

Lunch Break

2:00 pm

Going Beyond Sanctions – De-mystifying Complex Ownership Structures while Navigating the Regulatory Landscape

Sambit Mohanty,Director – KYC Sales, South Asia, Moody’s Analytics

2:30 pm

Panel Discussion: Ongoing Due Diligence: Proactive Steps to Really Know Your Customer

Most financial institutions would be technically compliant with the KYC and customer due diligence regulations. But ongoing due diligence may need going beyond the letter of the law to create an ongoing profile and really ‘know the customer’. Experts and practitioners will discuss good practices and innovative approaches to customer due diligence.

Moderator
Ravi Lahoti, Chief Audit Executive, Bandhan Bank

Panelists:
Amit Retharekar, Principal Officer, The Karad Urban Co-op Bank Limited
Arti Shekhar, Chief Compliance Officer, Kotak Mahindra Prime Limited
Devendra Raghav, Head of Compliance and Internal Control, Qatar National Bank
Nitin Kataria, Head, Anti Financial Crime, South Asia, Deutsche Bank AG
Praveen Mohan Dayal, Senior Vice-President, HSBC Bank

3:30 pm

Tea/Coffee Break

3:45 pm

Panel Discussion: AML Risks in Digital Payments

Developments in the payments landscape are leading to increased collaboration amongst banks and financial institutions, fintechs and new payment players. However, this is inevitably leading to a complicated AML compliance environment. The panel will deliberate on the risks and challenges arising from digitalisation of payments and discuss mitigation approaches.

Moderator
Theresa Karunakaran, Former Director Regulatory Affairs, Deutsche Bank and Partner, Compliance Matters

Panelists
Abhishek R Sharma, Director – AML & Financial Services, Ethics & Compliance, Flipkart
Arun Shankar Chandrasekaran, Senior Director – Risk & Compliance, Cashfree Payments
Debmalya Maitra, Senior Director BFSI, Chokshi Group
Ritu Verma, Head Compliance, Newtap Technologies Pvt Ltd
Srinivas Yanamandra, Group Head – Regulatory Affairs & Policy, One 97 Communications Ltd