The document discusses anti-money laundering compliance software implementation following the 2001 enactment of the USA PATRIOT Act. Key points include:
- The Patriot Act delegated responsibility to FinCEN to set requirements for financial institutions to establish anti-money laundering compliance programs.
- Section 352(a) of the Patriot Act amended the Bank Secrecy Act to require financial institutions to establish anti-money laundering programs, including internal policies, a compliance officer, ongoing training, and independent audits.
- The objectives are to help businesses implement Patriot Act directives regarding information sharing about clients with suspicious activity and investigating client accounts and transactions for money laundering or terrorist funding possibilities.
NICE Actimize launched its anti-money laundering cloud solution on AWS in response to the unique needs of Financial Services institutions. In this presentation, Marketing VP Joram Borenstein describes complex regulatory requirements and increasingly sophisticated means through which AML perpetrators are committing financial-based crimes. The AWS cloud has provided NICE Actimize’s solution with the agility to adapt to this ever evolving environment and protect organizations from suspicious activity.
This presented is aimed at AML/CTF practitioners who would need quick reminders of the basics of AML. Tools are not very useful if the underlying basics are unknown.
A robust risk assessment process is central to maintaining a strong Anti-Money Laundering (AML) compliance program. In this new Accenture presentation we explore how financial services firms can set-up an effective process. Visit our fraud and financial crime blog post for more on AML risk assessment program: http://bit.ly/2aPlQQ7
Bovill - the UK financial services regulatory consultancy - runs regular briefings. These are the slides from the February briefing on anti-money laundering. For more information visit http://www.bovill.com/FinancialCrime.aspx.
Information on the event is below:
Taking a company-wide approach to money laundering
“The FCA has made it very clear that responsibility for the overall culture of firms sits at the top. We need leaders and senior managers within the industry to set the tone for how their staff behave.”
Tracey McDermott, Director of Enforcement and Financial Crime, FCA
The regulator has recently reiterated their intention to carry out further thematic and enforcement work in financial crime. However, many firms still have a fragmented approach to managing the risks of money laundering.
The responsibility for preventing financial crime is shared across the firm from the back office to the boardroom. Firms need to take a company-wide approach to tackling money laundering to ensure they are complying with regulation and managing risks effectively.
Bovill’s briefing looked at Anti-Money Laundering (AML), covering:
• Governance arrangements: as the foundation for effective communication and issue resolution
• Risk management: the difficulties of negotiating the right level of due diligence for higher risk customers and what tools can be used to help with this process
• Systems and controls: ensuring that these are fit for regulatory purpose and are appropriately maintained within your firm.
This guideline takes you through a step-by-step guide on how to conduct a money laundering business risk assessment. The slides consider each core division of an aml risk assessment.
NICE Actimize launched its anti-money laundering cloud solution on AWS in response to the unique needs of Financial Services institutions. In this presentation, Marketing VP Joram Borenstein describes complex regulatory requirements and increasingly sophisticated means through which AML perpetrators are committing financial-based crimes. The AWS cloud has provided NICE Actimize’s solution with the agility to adapt to this ever evolving environment and protect organizations from suspicious activity.
This presented is aimed at AML/CTF practitioners who would need quick reminders of the basics of AML. Tools are not very useful if the underlying basics are unknown.
A robust risk assessment process is central to maintaining a strong Anti-Money Laundering (AML) compliance program. In this new Accenture presentation we explore how financial services firms can set-up an effective process. Visit our fraud and financial crime blog post for more on AML risk assessment program: http://bit.ly/2aPlQQ7
Bovill - the UK financial services regulatory consultancy - runs regular briefings. These are the slides from the February briefing on anti-money laundering. For more information visit http://www.bovill.com/FinancialCrime.aspx.
Information on the event is below:
Taking a company-wide approach to money laundering
“The FCA has made it very clear that responsibility for the overall culture of firms sits at the top. We need leaders and senior managers within the industry to set the tone for how their staff behave.”
Tracey McDermott, Director of Enforcement and Financial Crime, FCA
The regulator has recently reiterated their intention to carry out further thematic and enforcement work in financial crime. However, many firms still have a fragmented approach to managing the risks of money laundering.
The responsibility for preventing financial crime is shared across the firm from the back office to the boardroom. Firms need to take a company-wide approach to tackling money laundering to ensure they are complying with regulation and managing risks effectively.
Bovill’s briefing looked at Anti-Money Laundering (AML), covering:
• Governance arrangements: as the foundation for effective communication and issue resolution
• Risk management: the difficulties of negotiating the right level of due diligence for higher risk customers and what tools can be used to help with this process
• Systems and controls: ensuring that these are fit for regulatory purpose and are appropriately maintained within your firm.
This guideline takes you through a step-by-step guide on how to conduct a money laundering business risk assessment. The slides consider each core division of an aml risk assessment.
With a zero tolerance level in Money Laundering and associated large regulatory penalties for non compliance, Banks and other Financial Institutes are spending immense time, effort and money to achieve compliance. Needless to say, it is still not enough. The Black Swan can enter into any Financial Institute’s Branch on any given day and sting the Bank by surprise.
The implementation of a formal and a structured AML Mitigation and oversight system and processes that effectively identify, assess, and manage such risk within acceptable levels is a challenge. Therefore, awareness about the menace of money laundering and thorough understanding of the antimony laundering process and its current trends at all levels of staff of a bank/FI are ever growing necessities.
Awaiting your valuable nominations/enquiries to make the programs mutually beneficial and successful. Please email manoj.jain@riskpro.in or contact at 98337 67114 for more details.
Program Highlights
Let the experts guide you on the best practices in Anti Money Laundering
Perspective from RBI, FIU- IND, Income Tax and more
Global regulations around AML/KYC
Indian regulations and latest reforms
How to avoid any kind of surprises
Linking AML compliance to Reputation Risk, Social Media Risk
Dodd Frank Act, US Patriot Act
What it takes to say “NO” to profitable and abundant business
Speakers and Panelist
Guest speakers from Regulatory Authorities
Risk Management and Banking Experts
Manoj Jain, Director and Co Founder, Riskpro India
Hemant Seigell, Director, Riskpro India
R Muralidharan, ex DGM - Risk Management, Bank of Maharashtra
Hemlatha Mohan, ex Country Head ORM, ING Vysya Bank
Prasanna Rath, ex Head of Risk, TAIB Bank, Bahrain
Prominent AML experts as panelist
Money Laundering and Terrorist Financing in a Nutshell: Chapter OneMd. Moulude Hossain
Financial Crime is an increasing concern for all financial institutions, which is developing rapidly and equally together with technology. May be not limited to money laundering and terrorist financing, these two form of financial crime deserve to be attended with utmost care.
The evolving challenges of Money Laundering (ML) and Terrorist Financing (TF) lead the evolution of anti-money laundering and counter terrorist financing convention and regulations. These conventions give birth of several international organizations to combat the impact of ML and TF.
This is my presentation about what is money laundering crime and what is the role of financial institutions in the fight against it. I used it during my speech for a bunch of Business School Students (ISM).
Assessing AML Geographic Risk: a Methodology (November 2020)Alessa
WATCH WEBINAR: https://www.caseware.com/alessa/webinars/assessing-aml-geographic-risk-a-methodology/
Foreign transaction activity is an established risk factor for money laundering. But, what makes one country "riskier" than another from a money laundering or terrorist financing perspective? Financial institutions have no definitive source for country money laundering risk. In this presentation on customer risk scoring, Laurie Kelly, CAMS explores one objective methodology financial institutions may consider to assess individual countries' money laundering risk, which in turn may be used in transaction activity monitoring, customer risk scoring and the institution's high level money laundering risk assessment.
About Alessa, a CaseWare RCM product:
Alessa is a financial crime detection, prevention and management solution offered by CaseWare RCM Inc. With deployments in more than 20 countries in banking, insurance, FinTech, gaming, manufacturing, retail and more, Alessa is the only platform organizations need to identify high-risk activities and stay ahead of compliance. To learn more about how Alessa can help your organization ensure compliance, detect complex fraud schemes, and prevent waste, abuse and misuse, visit us at caseware.com/alessa.
Connect with us online:
Visit the Alessa WEBSITE: https://www.caseware.com/alessa/
Follow Alessa on LINKEDIN: https://www.linkedin.com/caseware-alessa
Follow Alessa on TWITTER: https://twitter.com/casewarealessa
SUBSCRIBE to Alessa on YouTube: http://tiny.cc/Alessa
The presentation provides overall insight of operational fraud risk management. It explains the operational fraud risk and mitigation strategies. The role of Internal audit and audit committee is further exemplified
Basics of Anti-Money Laundering : A Really Quick Primer
What is Money Laundering?
The act of concealing or disguising (laundering) of funds obtained through illegal activity
so that they appear to have been generated through legal, legitimate sources.
How is it Carried Out?
Shell companies, intermediaries and money transmitters usually transfer these funds around the world Banks and other financial institutions are the chosen medium for laundering these illegal funds
AML Regulations:
The Bank Secrecy Act is the most important Anti-Money Laundering (AML) regulation
The BSA requires financial institutions to:
Keep records of cash purchases of negotiable instruments
File reports of cash transactions exceeding $10,000 (daily aggregate amount)
Report suspicious activity that might signify money laundering, tax evasion, or other criminal activities
Implement a written, board-approved compliance monitoring program
The USA Patriot Act
Expands AML requirements to all financial institutions
Augments existing BSA framework
AML Best Practices:
In order to combat money laundering, banks should implement the following best practices:
Customer Identification Program (CIP)
Customer Due Diligence (CDD) Program
Bank Secrecy Act/Anti-Money Laundering Risk Assessment
Identification and Reporting of Suspicious Activity
Want to learn more about anti-money laundering process and best practices? ComplianceOnline webinars and seminars are a great training resource. Check out the following links:
http://www.complianceonline.com/anti-money-laundering-aml-compliance-program-seminar-training-80114SEM-prdsm?channel=amlppt
http://www.complianceonline.com/bsa-aml-ofac-risk-assessments-regulatory-requirements-seminar-training-80181SEM-prdsm?channel=ppt
http://www.complianceonline.com/bsa-aml-compliance-reporting-requirements-webinar-training-703352-prdw?channel=amlppt
http://www.complianceonline.com/bsa-aml-compliance-checklists-webinar-training-703178-prdw?channel=amlppt
http://www.complianceonline.com/bsa-aml-ofac-risk-assessments-and-evaluation-compliance-program-webinar-training-703493-prdw?channel=amlppt
http://www.complianceonline.com/best-practices-for-developing-risk-models-for-aml-bsa-monitoring-webinar-training-703628-prdw?channel=amlppt
With a zero tolerance level in Money Laundering and associated large regulatory penalties for non compliance, Banks and other Financial Institutes are spending immense time, effort and money to achieve compliance. Needless to say, it is still not enough. The Black Swan can enter into any Financial Institute’s Branch on any given day and sting the Bank by surprise.
The implementation of a formal and a structured AML Mitigation and oversight system and processes that effectively identify, assess, and manage such risk within acceptable levels is a challenge. Therefore, awareness about the menace of money laundering and thorough understanding of the antimony laundering process and its current trends at all levels of staff of a bank/FI are ever growing necessities.
Awaiting your valuable nominations/enquiries to make the programs mutually beneficial and successful. Please email manoj.jain@riskpro.in or contact at 98337 67114 for more details.
Program Highlights
Let the experts guide you on the best practices in Anti Money Laundering
Perspective from RBI, FIU- IND, Income Tax and more
Global regulations around AML/KYC
Indian regulations and latest reforms
How to avoid any kind of surprises
Linking AML compliance to Reputation Risk, Social Media Risk
Dodd Frank Act, US Patriot Act
What it takes to say “NO” to profitable and abundant business
Speakers and Panelist
Guest speakers from Regulatory Authorities
Risk Management and Banking Experts
Manoj Jain, Director and Co Founder, Riskpro India
Hemant Seigell, Director, Riskpro India
R Muralidharan, ex DGM - Risk Management, Bank of Maharashtra
Hemlatha Mohan, ex Country Head ORM, ING Vysya Bank
Prasanna Rath, ex Head of Risk, TAIB Bank, Bahrain
Prominent AML experts as panelist
Money Laundering and Terrorist Financing in a Nutshell: Chapter OneMd. Moulude Hossain
Financial Crime is an increasing concern for all financial institutions, which is developing rapidly and equally together with technology. May be not limited to money laundering and terrorist financing, these two form of financial crime deserve to be attended with utmost care.
The evolving challenges of Money Laundering (ML) and Terrorist Financing (TF) lead the evolution of anti-money laundering and counter terrorist financing convention and regulations. These conventions give birth of several international organizations to combat the impact of ML and TF.
This is my presentation about what is money laundering crime and what is the role of financial institutions in the fight against it. I used it during my speech for a bunch of Business School Students (ISM).
Assessing AML Geographic Risk: a Methodology (November 2020)Alessa
WATCH WEBINAR: https://www.caseware.com/alessa/webinars/assessing-aml-geographic-risk-a-methodology/
Foreign transaction activity is an established risk factor for money laundering. But, what makes one country "riskier" than another from a money laundering or terrorist financing perspective? Financial institutions have no definitive source for country money laundering risk. In this presentation on customer risk scoring, Laurie Kelly, CAMS explores one objective methodology financial institutions may consider to assess individual countries' money laundering risk, which in turn may be used in transaction activity monitoring, customer risk scoring and the institution's high level money laundering risk assessment.
About Alessa, a CaseWare RCM product:
Alessa is a financial crime detection, prevention and management solution offered by CaseWare RCM Inc. With deployments in more than 20 countries in banking, insurance, FinTech, gaming, manufacturing, retail and more, Alessa is the only platform organizations need to identify high-risk activities and stay ahead of compliance. To learn more about how Alessa can help your organization ensure compliance, detect complex fraud schemes, and prevent waste, abuse and misuse, visit us at caseware.com/alessa.
Connect with us online:
Visit the Alessa WEBSITE: https://www.caseware.com/alessa/
Follow Alessa on LINKEDIN: https://www.linkedin.com/caseware-alessa
Follow Alessa on TWITTER: https://twitter.com/casewarealessa
SUBSCRIBE to Alessa on YouTube: http://tiny.cc/Alessa
The presentation provides overall insight of operational fraud risk management. It explains the operational fraud risk and mitigation strategies. The role of Internal audit and audit committee is further exemplified
Basics of Anti-Money Laundering : A Really Quick Primer
What is Money Laundering?
The act of concealing or disguising (laundering) of funds obtained through illegal activity
so that they appear to have been generated through legal, legitimate sources.
How is it Carried Out?
Shell companies, intermediaries and money transmitters usually transfer these funds around the world Banks and other financial institutions are the chosen medium for laundering these illegal funds
AML Regulations:
The Bank Secrecy Act is the most important Anti-Money Laundering (AML) regulation
The BSA requires financial institutions to:
Keep records of cash purchases of negotiable instruments
File reports of cash transactions exceeding $10,000 (daily aggregate amount)
Report suspicious activity that might signify money laundering, tax evasion, or other criminal activities
Implement a written, board-approved compliance monitoring program
The USA Patriot Act
Expands AML requirements to all financial institutions
Augments existing BSA framework
AML Best Practices:
In order to combat money laundering, banks should implement the following best practices:
Customer Identification Program (CIP)
Customer Due Diligence (CDD) Program
Bank Secrecy Act/Anti-Money Laundering Risk Assessment
Identification and Reporting of Suspicious Activity
Want to learn more about anti-money laundering process and best practices? ComplianceOnline webinars and seminars are a great training resource. Check out the following links:
http://www.complianceonline.com/anti-money-laundering-aml-compliance-program-seminar-training-80114SEM-prdsm?channel=amlppt
http://www.complianceonline.com/bsa-aml-ofac-risk-assessments-regulatory-requirements-seminar-training-80181SEM-prdsm?channel=ppt
http://www.complianceonline.com/bsa-aml-compliance-reporting-requirements-webinar-training-703352-prdw?channel=amlppt
http://www.complianceonline.com/bsa-aml-compliance-checklists-webinar-training-703178-prdw?channel=amlppt
http://www.complianceonline.com/bsa-aml-ofac-risk-assessments-and-evaluation-compliance-program-webinar-training-703493-prdw?channel=amlppt
http://www.complianceonline.com/best-practices-for-developing-risk-models-for-aml-bsa-monitoring-webinar-training-703628-prdw?channel=amlppt
The ‘Nexus of Forces’— social, mobile, cloud and information access, today determine how a customer interacts with a brand. This makes every customer touch point an opportunity for an enterprise to deliver an agile experience, throughout the customers’ lifecycle - right from on-boarding, identity management to continuous communications.
Know More About KYC and Money Laundering Procedure by DHFLDHFL
Do you understand KYC and Anti money laundering procedures completely? Why KYC and AML norms are followed by all banks and housing finance companies? Know more about KYC, anti-money laundering procedures and many other processes followed by banks and housing finance companies to know their customers better.
Illicit Cigarette Trade: A Global Pandemicwerntzechan
This presentation hopes to raise awareness on the significant societal impacts of illicit cigarette trade. The severity of the resulting economic, social, and health dangers are covered in this presentation; with emphasis on organised crime, terrorism, and youth smoking. For more information, click on this link: http://en.wikipedia.org/wiki/Illicit_cigarette_trade
Graphgen aims at helping people prototyping a graph database, by providing a visual tool that ease the generation of nodes and relationships with a Cypher DSL.
Many people struggle with not only creating a good graph model of their domain but also with creating sensible example data to test hypotheses or use-cases.
Graphgen aims at helping people with no time but a good enough understanding of their domain model, by providing a visual dsl for data model generation which borrows heavily on Neo4j Cypher graph query language.
The ascii art allows even non-technical users to write and read model descriptions/configurations as concise as plain english but formal enough to be parseable. The underlying generator combines the DSL inputs (structure, cardinalities and amount-ranges) and combines them with a comprehensive fake data generation library to create real-world-like datasets of medium/arbitrary size and complexity.
Users can create their own models combining the basic building blocks of the dsl and share their data-descriptions with others with a simple link.
How Big Data and Predictive Analytics are revolutionizing AML and Financial C...DataWorks Summit
Banks, Payment Providers and capital markets firms are under intense regulatory mandate to process huge amounts of transaction-related data from both traditional and non-traditional sources. Compliance teams need to constantly analyze data-in-motion (wires, fund transfers, banking transactions) and data-at-rest (years worth of historical data) for actionable intelligence required for Suspicious Activity Reports—to discover illegal activity and provide detailed reporting to authorities. Annual estimates of global money laundering flows ranging anywhere from $ 1 trillion to 2 trillion – almost 5% of global GDP. Almost all of this is laundered via Retail & Merchant Banks, Payment Networks, Securities & Futures firms, Casino Services & Clubs etc – which explains why annual AML related fines on Banking organizations run into the billions and are increasing every year. However, the number of SARs (Suspicious Activity Reports) filed by banking institutions are much higher as a category as compared to the numbers filed by these other businesses. In this presentation we will discuss the business imperatives, value drivers and the woeful inadequacy of current technology architectures and approaches in tackling AML. We will then pivot to a deepdive around Big Data and Predictive Analytics in how they can ease and solve these vexing challenges that Banking executives are grappling with globally.
Fortify Your Enterprise with IBM Smarter Counter-Fraud SolutionsPerficient, Inc.
Organizations lose an estimated five percent of annual revenues to fraud, totaling nearly $1 trillion in the U.S. alone. Cyber criminals are more organized and better equipped than ever, and continue to evolve their strategies in order to undermine even the strongest protections.
We continue to hear about major security breaches across all industries, but what is being done to fix the problem? There must be a tight interlock between risk, security, fraud and financial crimes management. Current solutions are proving inadequate as point solutions and a corporate silo mentality directly contribute to the risk of fraudulent activities going undetected.
Our webinar covered:
-How IBM’s Smarter Counter Fraud initiative can help public and private organizations prevent, identify and investigate fraudulent activities
-Real-world use cases including how one financial institution stopped $1M in fraud in the first week after implementing a counter-fraud solution
-Perficient’s multi-tiered approach to help guide successful business outcomes
It’s time to stop the bad guys with IBM Smarter Counter Fraud and Perficient – learn how now!
Custody Banking and Emerging KYC NeedsTodd Breeden
Presentation prepared for one of the world's largest custodian banking service providers summarizing macro trends affecting the landscape and how to focus on emerging technology vendors in RegTech as a potential strategic solution to expand their business footprint
Webinar Deck: Efficient Methods for Managing Global Cash in Today's Regulator...Kyriba Corporation
Check out our powerpoint for Efficient Methods for Managing Global Cash in Today's Regulatory Regime where the expert speakers explored proven liquidity and intercompany cash management strategies, as well as tax/treasury collaborative initiatives that can help optimize global cash in an ever-changing complex environment.
5 Applications of Data Science in FinTech: The Tech Behind the Booming FinTec...Kavika Roy
https://www.datatobiz.com/blog/data-science-in-fintech/
Data Science has played a significant role in transforming thefinance and banking industry by completely changing the ways in which they previously operated. Life has been made easier for the banking officials as well as the customers. FinTech: a new term coined for the innovation and technology methods aiming to transform traditional methods of finance with data science forming one of its integral components.
Whenever you use your credit card, Amazon Pay, PayPal, or PayTm to make an online payment, the commerce company/seller and your bank, both utilize FinTech to make a successful transaction. With time FinTech has changed almost and every aspect of financial services, which includes investments, insurance, payments, cryptocurrencies, and much more. Fintech companies are heavily dependent on the insights offered by machine learning, artificial intelligence, and predictive analytics to function properly.
How Are Data Analytics Used In The Banking And Finance Industries.pdfMaveric Systems
amplify business success. Today, banks want more than incremental gains. They want datadriven revenue breakthroughs. Banks increasingly rely on data. It’s the future of communication
apidays LIVE Hong Kong 2021 - Federated Learning for Banking by Isaac Wong, W...apidays
apidays LIVE Hong Kong 2021 - API Ecosystem & Data Interchange
August 25 & 26, 2021
Federated Learning for Banking
Isaac Wong, AI Solution Architect at WeBank
Business Intelligence In Financial IndustryKartik Mehta
As more and more operations of banks operations and use of banking transactions by the customer is being performed on web, the amount of data is growing exponentially. To get insights into the future Business Intelligence in Financial Industry could be the way forward.
Trading has changed from local to global and so have the processes from paper to Online. The result is change in process from T+3 to T+1 and real time trading and settlement of a trade.
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
4. Training and Awareness Program Cost of Compliance Anti-Money Laundering Strategy Anti - money laundering standards and procedures Management Commitment Security & technology usage Administrative and end - user policies and procedures KYC - Data Access/Mining Transaction Monitoring/ Tracking Processes Business and organisation Processes & Initiatives Tactical short term solutions Compliance Requirements International, Regulatory, Industry, Third Party, Internal AML Reporting Risk assessment Investment suitability Tax etc. Investment suitability Tax etc. Know your customer (KYC) - Account Opening From Reactive to Proactive approach Integrated Approach
5. Data Pipeline DDA CIS SWIFT Money Market transaction hub Load to IEF Load to IEF Load to IEF Data Hub Wires Reference data Posted & Deposit Detail Transactions TDA Extract Normalize & Transform Load Fortent Monitor Systems of Record FedWire transactions wire transactions customers accounts rel man Concept: Fortent software training material I E F Excel sheet, graphs Excel sheet, graphs Excel sheet, graphs Zurich office London office New York office Money Laundering Data warehouse
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7. Opportunities: Easy Trends analysis Money Laundering Analysis using Tools Users Wealth Management Investment Banking Calculation Engine Actuate Actuate Zurich office Stamford Office Actuate Cognos SAS New York office Actuate London Office Excel sheet, graphs Excel sheet, graphs Excel sheet, graphs Excel sheet, graphs
8. Opportunity: Easy access of information globally Zurich office – Report on Clients transactions unexplained for amount above $10,000 . Stamford office List of clients in US said to be under suspicion radar Berlin office List of clients in Germany said to be under suspicion radar New York office – US government – List of all Clients under suspicion by bank’s investigators Paris office – How to perform better Than Credit Suisse – search Trends Excel, Word London office demands Suspicious Activity Reports
9. Opportunities: Actual number & not mere suspicion about Client & their transaction 10 47 30 12 Wealth Management Investment banking Fixed Income Institutional securities US Europe Asia 3/1 3/2 3/3 3/4 Date Month Region Product
10. External Problems Globalisation of clients & data Sophisticated money launderers Inefficient compliance systems Reporting to number of agencies & regulation change Accountability of transactions from Corresponding banks, investigate volumes of data. [1] Professor S. Seshadari, IIT Professor slides on Datawarehousing. Only the diagram structure taken by Professor’s slide. The concept & content based on my understanding of Delta case. Privacy concern’ Of clients
11. Internal Problems Hire Paralegal & IT team well versed with Patriot Act AML software which is best processes and budget? Where to hire best IT, Technology consultants Each division working on different data system [1] Professor S. Seshadari, IIT Professor slides on Datawarehousing. Only the diagram structure taken by Professor’s slide. The concept & content based on my understanding of Delta case. Massive volumes Of data & Data integration Permissions Within The bank Day – to- day operations Vs Trends & Strategy issues
12. Operational Problem: Quick access to financial information in manage transactions What product promotions have the biggest impact on revenue? What is the most effective distribution channel? Who are my customers and what products are they buying? Which are our lowest/highest margin customers ? What impact will new products/services have on revenue and margins? Which customers are most likely to go to the competition ?
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15. Know Your Customer Guidelines Customer Acceptance - Ensure that you accept only legitimate and bona fide customers. Customer Identification- Ensure that you properly identify your customers to understand the risks they may pose. Transactions Monitoring- Monitor customers accounts and transactions to prevent or detect illegal activities. Risk Management- Implement processes to effectively manage the risks posed by customers trying to misuse facilities. Money Laundering Searches required by the Compliance Officer Source: Presentation by Sanjeev Singh
16. KYC: If Client Involved in Money Laundering Activities Drug Trafficking Bribery / Corruption Prostitution Gambling Tax Evasion Extortion Robbery and Fraud White Collar Crimes ( including Insider Trading and Securities offences ) Smuggling (arms, people, goods) Counterfeiting and Forgery Kidnapping Serious Crime or All Crimes? Organised Crime Source: www.fintraca.gov.af/assets/ ppt /AML
17. Goal: Integration of Company’s data to enable Money Laundering Analysis Across Bank’s various Divisions for Analysis to happen Investment Banking – Europe division Global Wealth Management Fixed Income US division Trading and Settlement Switzerland Division Drill down By city, country Drill down by Financial product Trend analysis By region Granular Details by region City, state, country
18. Fortent Monitor Data Manager Profiling Engine Operational Data Store Detection Engine Investigation System Source: Fortent software training material
19. Data Pipeline DDA CIS SWIFT Money Market transaction hub Load to IEF Load to IEF Load to IEF Data Hub Wires Reference data Posted & Deposit Detail Transactions TDA Extract Normalize & Transform Load Fortent Monitor Systems of Record FedWire transactions wire transactions customers accounts rel man Concept: Fortent software training material I E F Excel sheet, graphs Excel sheet, graphs Excel sheet, graphs Zurich office London office New York office Money Laundering Data warehouse
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21. Goal: Process change Exchang e Electronic Communications Network Market Maker Firm Internalizes Order Internet order Phone order [1] http://www.ibtimes.com/articles/20061006/add-nyse-electronic-trading.htm
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23. The Simple SWOT from MIS750 S TRENGTHS W EAKNESSES O PPORTUNITIES T HREATS 4. Existing Human Resource, Divisions, high cost Brick structure within bank, how to utiilize their services compared to Click structure of small Online companies & consequently their low operating cost. 6. Buying / Tie up with Online Financial services Company and learn from their low cost Click culture, Online handling of Processes like Fox TV who successfully launched My Space on Internet though traditional TV Media company. 5. Lack of methods to know and verify Customer details from what they say and what they actually do. 6. Huge amount of daily data to be checked right from Client’s details, to Transactions, to email correspondence between the Client and the Bank. 7. Cataloging data from around the world, from all their Clients & from all the Client’s transactions and then storing all these details at Bank’s location. 8. Cataloging all the above details and yet comply with the Swiss Privacy Laws of Non Disclosure of Client’s details and maintaining Client’s Privacy.
24. Weakness: Data Integration & Size of Bank Problems: Data Disintegration Across Sources Brokerage Credit card Wealth Management Investment Banking Same data different name Different data Same name Data found here nowhere else Different keys same data
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27. Strengths Weaknesses 1. Use Huge pockets to deploy latest Money Laundering Technology. 2. Use Brand name to enter Online Money Laundering Banking Operations. 1. Provide staff IT training in Money Laundering software to make them equipped to handle Money Laundering software operations. 1. Fines from the regulators. New changing regulations around the world and fines for Bank in event of non compliance to these new laws. Loss of Image in case Bank found guilty of Money Laundering. Tie up Start up firms to join the Online Products & services. Tie-up and Co-Brand services with existing Online player to compete with new born Online firm. Lower cost of operations and transaction to attract customers from competition. Tie-up with IBM, Infosys to provide regular supply of well experienced IT workers. Start transformation of Enterprise into IT governed enterprise parallelly in multiple divisions of bank. Opportunities S O STRATEGIES W O STRATEGIES S T STRATEGIES W T STRATEGIES Threats Super SWOT Company UBS Money Laundering Division 1. Brand Name 2. Cash Flow 3. Well distributed office locales 4. Products and services 5. Trained Financial workforce. 6. Part of Bank Transactions Online. 1. Huge Online market untapped. 2. Commanding presence in US, European 3. Greater reach to clients than competitors 4. Offer more variety services 1. Lack of in house Money Laundering & IT workforce 2. Huge size, slower adoption of technology than by competitors 3. High cost of Brick structure against the Click structure and high operating cost. 4. Late mover in Online market.
28. Strengths Weaknesses 3. Use big distribution to get more clients than competition. 4. Use huge infrastructure to provide Add on services. 1. Use Huge pockets to deploy latest Money Laundering software & trained IT workforce from say IBM. 2. Use brand name to offer Online services and market these. 2. Slow adoption of IT 3. In house trained workforce Tie up Start up firms to join the Online Products & services. Tie-up and Co-Brand services with existing Online player to compete with new born Online firm. Lower cost of operations and transaction to attract customers from competition. Tie-up with IBM, Infosys to provide regular supply of well experienced IT workers. Start transformation of Enterprise into IT governed enterprise parallelly in multiple divisions of bank. Opportunities S O STRATEGIES W O STRATEGIES S T STRATEGIES W T STRATEGIES Threats Super SWOT Company UBS Money Laundering Division
29. Method 1: Customer Relationship Management CRM used for Monitoring/Reporting Customer ID documentation Enhanced due diligence Monitoring Reporting FIU analysis Investigation Application from customer Within the institution Outside the institution When should KYC research need to be carried out? Source: www.baft.org presentation by Andrew Clark
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31. Method 1 Contd… CRM : 2 Tracking Suspicious Behavior by customer, by transaction Comparison of current month to account profile Comparison of current month to peer profile Event Thresholds Sum of scores SB Thresholds Alerts Account Value Account Volume Insufficient Account Insufficient Peer Peer Volume Peer Value Events Group by customer Customer Security Blanket Infraction Account Security Blanket Infraction BLU Infraction Infractions (reason for alert) Account Profile Peer Profile Monthly Summary Daily Summary Daily Summary Daily Summary Source: Fortent software training material
32. Fortent Monitor Data Manager Profiling Engine Operational Data Store Detection Engine Investigation System Source: Fortent software training material Method 2: Information Organization
33. Data Pipeline DDA CIS SWIFT Money Market transaction hub Load to IEF Load to IEF Load to IEF Data Hub Wires Reference data Posted & Deposit Detail Transactions TDA Extract Normalize & Transform Load Fortent Monitor Systems of Record FedWire transactions wire transactions customers accounts rel man Concept: Fortent software training material I E F Excel sheet, graphs Excel sheet, graphs Excel sheet, graphs Zurich office London office New York office Method 2: Information Organization Money Laundering Data warehouse
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35. Method 2: Information Organization What do we look at ? Role Country Bank Account Island Bank Peoples Bank Lion Bank Transaction Type Originator SWIFT Intermediary 1 SWIFT Intermediary 2 SWIFT $ Wachovia Beneficiary SWIFT $ Message/Product Type SWIFT MT103 WIRE Source: Fortent software training material
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37. Business Strategy Competitors Banks like Barclays, Credit Swisse, Citi Group are also deploying Technology, but Business Intelligence might be UBS edge. Local banks, online financial instutions with low distribution network will loose customers badly and may even cease to exist. Competitors Banks like Barclays, Credit Swisse, Citi Group as well Online firms like E-Trade, Charles Schwab are giving UBS tough competition. Customers/Clients Educated, high net worth individual well versed with Online services, specially younger generation will jump on, might loose those who not Online. Client prefer Telephone or web meetings, one-to-one meeting only in special cases. Customers/Clients For Clients coming to bank for one-to-one meet is a norm loaded with paper and going back with bag full of financial documents. Products and Services Single UBS Executive, Client’s point of contact for all kinds of accounts, Asset, Wealth Management or Brokerage to get overall picture. Online services. Products and Services Asset Management, Wealth management, Brokerage – to an extent still manual and same client has to call different divisions for different accounts Business Scope To-Be As-Is
40. Business Strategy Online Asset management, Brokerage, Taxes filing, Pension policy advise and related Online services become norm. Services over the phone, Call center services for minor administrative services like logging on bank’s Web page, opening bank account become a norm. Note Changes Big distribution network. Brand Name Deep pockets to implement any new technology within a short time. Distinctive Competencies Internal Decisions , Regulatory, Etc. Patriot Act details of client submission to government – implementation done Online only using Excel, Business Objects, graphs. Internal Decisions , Regulatory, Etc. Patriot Act implementation done both partly manual, partly Online Business Governance To-Be As-Is
41. As – Is : Business Strategy Governance Paper based Approach to Money Laundering Bank teller puts in Customer account Office Boy Faxes Account details Details received at Bank’s Head office Office Boy Suspicious Transaction Accounts Desk Search for Right Client Account & Right FAX Investigator from FBI, Bank, Head Bank Try to trace client’s details Investigator Search Account past trends Money deposit by Client Bank manager Compiles transaction Volume of paper work In Investigation and Administrative loop holes Leads to loss of Investigation. Is this Client records Processing fine in 2008?
43. Training and Awareness Program Cost of Compliance Anti-Money Laundering Strategy Anti - money laundering standards and procedures Management Commitment Security & technology usage Administrative and end - user policies and procedures KYC - Data Access/Mining Transaction Monitoring/ Tracking Processes Business and organisation Processes & Initiatives Tactical short term solutions Compliance Requirements International, Regulatory, Industry, Third Party, Internal AML Reporting Risk assessment Investment suitability Tax etc. Investment suitability Tax etc. Know your customer (KYC) - Account Opening Business Strategy Governance: To Be From Reactive to Proactive approach Integrated Approach
45. Business Infrastructure Fast typing skills mandatory along with use of all MS Office products from Word, to Excel to Power point, Outlook, Web browsing along with specilised software like Database programmes like SQL, Business Objects, Charles River for few. Paper based work, typing skills, telephonic skills, PC skills limited to MS Word and limited level of MS Excel. HR/Skills Separate head for Money Laundering was brought in. Person was of level of Director reporting directly to Executive Committee and working in parallel with CIO. Division was headed by Business Analyst, Project Manager who was much low in Management ranking. Administrative Process have been designed to be all Online, data transfer, sharing, all online with click of a button. Bank’s declining position, bank responsibility to comply with new new compliances and unhappy customers with slower transaction speed as compared to competitors. Few process were manual, few based on Excel sheets, few other online but there was no integration, so one division could not exchange information with other without use of paper. Key Processes To-Be As-Is
46. As – Is : Administrative Approach to Money Laundering REACTIVE APPROACH Bank teller puts in Customer account Office Boy Faxes Account details Details received at Bank’s Head office Office Boy Suspicious Transaction Accounts Desk Search for Right Client Account & Right FAX Investigator from FBI, Bank, Head Bank Try to trace client’s details Investigator Search Account past trends Money deposit by Client Bank manager Compiles transaction Volume of paper work In Investigation and Administrative loop holes Leads to loss of Investigation. Is this Client records Processing fine in 2008?
47. Current Key Processes – As Is Brokerage Asset Management Private Banking Investment Banking Institutional investors ** Above Pictures taken from Google Images
48. Future Key Processes – To Be Brokerage Asset Management Private Banking Investment Banking Institutional investors ** Above Pictures taken from Google Images
49. Organisational changes As Is To Be Hierarchy based org Structure Services, Product line based org Structure
51. IT Strategy Internal Decisions , Regulatory, Etc. Include all areas that are relevant after the project implementation. Note Changes Internal Decisions , Regulatory, Etc. Include all areas that are relevant before the project implementation Governance Key Applications After project implementation Key Technologies After project implementation Key Applications Prior to project implementation Key Technologies Prior to project implementation Technology Scope Those areas in which the company has a distinct or competitive advantage over their competition after the implementation of the project. Note Changes Those areas in which the company has a distinct or competitive advantage over their competition. System Competency To-Be As-Is
52. As – Is : IT Strategy Paper based Approach to Money Laundering Bank teller puts in Customer account Office Boy Faxes Account details Details received at Bank’s Head office Office Boy Suspicious Transaction Accounts Desk Search for Right Client Account & Right FAX Investigator from FBI, Bank, Head Bank Try to trace client’s details Investigator Search Account past trends Money deposit by Client Bank manager Compiles transaction Volume of paper work In Investigation and Administrative loop holes Leads to loss of Investigation. Is this Client records Processing fine in 2008?
56. IT Strategy: To Be As a result of Process change implementation Exchang e Electronic Communications Network Market Maker Firm Internalizes Order Internet order Phone order
57. IT Infrastructure As-Is To-Be Architecture The IT Architecture prior to the project The IT Architecture after the project implementation. Key Processes The Key Processes prior to the project. The Key Processes after the project implementation. H/R/SKILLS HR duties and functions prior to the project. HR duties and functions after the project.
58. Pre requisites for Integrated approach to trade processing: centralisation of information collection process … to Centralised information source on correspondent banks From … Numerous bilateral information exchanges within financial institutions Source: www.swift.com/index.cfm?item_id=3878
59. As – Is Architecture US Wealth Management Europe Wealth Management Investment Banking US Wealth Management Board meet Europe Wealth Management Board meet Brokerage Management Board meet
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62. Data Pipeline DDA CIS SWIFT Money Market transaction hub Load to IEF Load to IEF Load to IEF Data Hub Wires Reference data Posted & Deposit Detail Transactions TDA Extract Normalize & Transform Load Fortent Monitor Systems of Record FedWire transactions wire transactions customers accounts rel man Concept: Fortent software training material I E F Excel sheet, graphs Excel sheet, graphs Excel sheet, graphs Zurich office London office New York office Money Laundering Data warehouse
63. Alternatives Key Process change Implementation Of IT in handing Transactions Setting up Separate Money Laundering Division Brick to Click Organization for Internal reporting & HR changes Merger, Tie up with upcoming Online Financial companies & Websites [1] Professor S. Seshadari, IIT Professor slides on Datawarehousing. Only the diagram structure taken by Professor’s slide. The concept & content based on my understanding of Delta case. Centralization and Integration of Various Divisions
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67. Organisational changes As Is To Be Hierarchy based org Structure Services, Product line based org Structure
68. Future Key Processes – To Be Brokerage Asset Management Private Banking Investment Banking Institutional investors ** Above Pictures taken from Google Images
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70. Training and Awareness Program Cost of Compliance Anti-Money Laundering Strategy Anti - money laundering standards and procedures Management Commitment Security & technology usage Administrative and end - user policies and procedures KYC - Data Access/Mining Transaction Monitoring/ Tracking Processes Business and organisation Processes & Initiatives Tactical short term solutions Compliance Requirements International, Regulatory, Industry, Third Party, Internal AML Reporting Risk assessment Investment suitability Tax etc. Investment suitability Tax etc. Know your customer (KYC) - Account Opening From Reactive to Proactive approach Integrated Approach
71. Pre requisites for Integrated approach to ML Bank: centralisation of information collection process … to Centralised information source on correspondent banks From … Numerous bilateral information exchanges Source: www.swift.com/index.cfm?item_id=3878
72. Organisational changes As Is To Be Hierarchy based org Structure Services, Product line based org Structure
73. References MIS 760 Team Case 1. www.cfdg.org.uk/.../events_h_050518_E3%20-%20 Money %20 Laundering %20and%20Fraud%20-%20Don%20Bawtree. ppt Presentation from Don Rawtree, Don Bawtree, Partner, BDO Stoy Hayward LLP, Emerald House, East Street, Epsom, Surrey, KT17 1HS 2. Presentation on Briefing on ‘KYC’ Norms and ‘AML’ Measures for IBA Member Banks by Sanjeev Singh, Additional Director, FIU-IND, Financial Intelligence Unit-India 3. www.fintraca.gov.af/assets/ppt/AML 4.http://www.nchelp.org/elibrary/Presentations/2003/2003WinterLegalAffairsMeeting/Consumer%20Privacy%20Issues.ppt 5. www.cityinformation.org.uk/Events/presentations/2007-May-MicheleBate.ppt 6. http://www.amlcft.com/cases.htm#Recent_Major_Fines_and_Penalties 7. Presentation on Briefing on ‘KYC’ Norms and ‘AML’ Measures for IBA Member Banks
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76. Ethical Statement “ Cheating during in-class tests or take-home examinations or homework is, of course, illegal and immoral. A Graduate Academic Evaluation Board exists to investigate academic improprieties, conduct hearings, and determine any necessary actions. The term ‘academic impropriety’ is meant to include, but is not limited to, cheating on homework, during in-class or take home examinations and plagiarism.” Consequences of academic impropriety are severe, ranging from receiving an “F” in a course, to warning from the Dean of the Graduate School, which becomes a part of the permanent student record, to expulsion. Consistent with the above statements, all homework exercises, tests and exams that are designated as individual assignments must contain the following signed statement before they can be accepted for grading. I, Kartik Mehta, pledge on my honor that I have not given or received any unauthorized assistance on this assignment/examination. I ,Kartik Mehta, further pledge that I have not copied any material from a book, article, the Internet or any other source except where I have expressly cited the source. MIS 760 Team Case