BAFT Financial Crime Compliance Workshop – India
August 8, 2017
Sofitel Mumbai BKC
Bandra Kurla Complex, Bandra East
Mumbai, 400051

Overview | Program | Speakers | Sponsorship Opportunities
Preliminary Program
08:30 – 09:30PM
09:30 – 09:35
Ms. Stacey Facter
Senior Vice President, Trade Products

09:35 – 09:45
Opening Remarks
Mr. Sujit Varma
Chief General Manager, International Banking
State Bank of India

09:45 – 10:00
Introduction/Workshop Overview
Learning objective: A workshop for transaction banking business and compliance personnel to understand important regulatory requirements and developments in combating financial crime, with an emphasis on governance and accountability.

Ms. Radish Singh
Partner, Deloitte Forensic, Financial Crime Compliance

Mr. KV Karthik
Partner - Forensic, Financial Advisory
Deloitte India

10:00 – 11:15
Financial Crime Compliance Framework and Customer Due Diligence
Learning objective: This session will help bankers and compliance personnel to understand the regulatory requirements regarding customer identification and due diligence, the responsibility of the “first line of defense” to identify and mitigate customer risk, and recent regulatory developments.

  1. Initial customer due diligence and risk rating (AML CDD & EDD, sanctions)
  2. Event driven and periodic refresh of information
  3. Recent developments
  4. Beneficial ownership
  5. Special concerns
  6. 1. Trade based money laundering
    2. Bribery and corruption (PEPs)
    3. Shell companies and tax evasion (Panama Papers and FATCA)
11:15 – 11:30
Networking Coffee Break
11:30 – 12:30
Transaction Monitoring
Learning objective: This section will explain recent regulatory developments in governance and optimization of automated transaction monitoring systems for both AML/CFT and sanctions compliance.

  1. Governance of your automated system
  2. NYDFS Rule 504 & Model Validation
  3. Optimization – a combination of systems, processes and people
  4. Detection scenarios and case studies
12:30 – 13:30
Networking Lunch
13:30 – 15:30
Trade Finance and Correspondent Banking
Learning Objective: This section will describe current international standards (FATF) and supervisory expectations (BCBS) for correspondent banking and how correspondents are respondents can meet these expectations in an efficient and cost effective way.

  1. Initial customer due diligence and risk rating
  2. 1. Initial CDD/EDD and risk rating
    2. Event driven and periodic refresh of information
  3. When do you have to know you customer's customer?
  4. Restricting or closing an account
15:30 – 15:45   
Networking Coffee Break
15:45 – 16:45
Learning objective: This section will explain the evolution of economic sanctions programs, which have become more complex over time, and offer strategies to protect against inadvertent and deliberate evasions of sanctions regime requirements.

A. Comprehensive sanctions, SDNs and sectoral sanctions
B. EU v. US sanctions against Iran
C. Sanctions in trade finance
D. Governance
     1.   Training and awareness
     2.   Testing
     3.   Accountability

16:45 – 17:00
Wrap Up/Closing Remarks