After the promulgation and implementation of the 2016 Edition of the Administrative Measures on Large Value Transactions and Suspicious Transaction Reports of Financial Institutions, the regulations no longer specify 18 suspicious situations to the FIs, but instead requires FIs to develop and optimize transaction monitoring scenarios based on ML/TF risk exposure. Although FIs have invested a large amount of human and financial resources on TM system developing, however, it is easy to know but difficult to do. The complexity in the practice still leads to many issues. For example, omissions or mistakes and poor-quality SAR. Many FIs are therefore subject to regulatory penalties in recent years. At this webinar, we will deeply examine the core steps and key links in suspicious transaction monitoring, identify the direction that needs to be improved, and avoid falling into the blind area of thinking again.
This webinar is conducted in Mandarin Chinese.
Reviewing basic information that needs to be collected for suspicious activity reporting (SAR) and understanding why it is important.
Discussing the various criteria for writing a high-quality SAR
Exploring how to establish and maintain an effective SAR reporting system in financial institutions
Strengthening data governance through scientific and technological methods to ensure that the information collected by Financial Intelligence Units is relevant and important
BSA / AML Officers, FinTech and Innovation Specialists, KYC / Onboarding
Asia, Asia/ North, Correspondent Banking, Financial Institutions, FIS, FinTech, Insurance, MSB, Private banking, Real estate, Securities