Running money: Examining the black money market flows

  • When: February 27, 2020
  • Time: 10:00AM – 12:00PM Hong Kong Time
  • Level: All

The Monetary Authority of Singapore has been focusing on improving the internal controls on the handling of cash. Remittance and FX Exchangers are under tighter surveillance to identify beneficial owners and verify the authenticity of remittance instructions. The Arcade handles both remittances and money changing flows in Singapore’s hustling business environment. Join us in this webinar to understand the critical new elements of the Singapore Payment Act and examine how black money moves.

Learning Objectives

  • Detailing how black money travels between countries
  • Examining how unregulated money changers and runners operate
  • Analyzing the AML vulnerabilities to MSBs in HK and Singapore

Who Should Attend

  • AML Officers
  • KYC/CDD personnel
  • Internal Audit
  • Industry Consultants

Region/Industry

  • Global
  • Asia
  • MSBs
  • Payment processors
  • Banking

Pricing

ACAMS Members Non-Members
$245 $445
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Moderator

William Scott Grob
  • Dr. William Scott Grob, CAMS-FCI

  • AML Director – APAC
  • ACAMS

Bio

Dr. Grob has over 25 years of financial and banking expertise. His most recent role was as Regional Head of Affiliates Management, HSBC, where he worked on mitigating financial crime and correspondent banking risks across Asia. His 12-year career at the bank also included managing risk within the Equity/FX prime brokerage business, Structured Funds business, and Hedge Fund units.

Dr. Grob earned a Bachelor’s degree from Boston University, a Master of Arts from George Mason University, a certificate from Harvard Business School’s General Management Program, and a Doctorate of Management from SMC University (USA), where his dissertation was focused on correspondent banking- “IMPACT OF CORRESPONDENT BANK ENHANCED DUE DILIGENCE PRACTICES.” Also, he has designations from the Chartered Alternative Investment Analyst (CAIA) Association, and Global Association of Risk Professionals (FRM).

Speaker

  • Ranjani Rangan, CAMS

  • Director & COO
  • CPA Partnership Pte Ltd

Bio

Ms. Rangan is a MBA professional with over 17 years of International account management experience in the areas of Banking and Consulting. Her meticulous formula of 80% execution (do it), 15% Position (Stick to it) and 5% (Plan it) along with her natural instinct to cross-sell has led to steady growth at all of the organizations she has served. She is an expert closely committed to a solution based approach and has a reputation for Integrity, Satisfaction and Results.

Ms. Rangan has rejoined CPA-Partnership (then PKF) as a Director and Chief Operations Officer since January 2016 and leads the Partnership and Business Development efforts across the various verticals the firm operates in. She previously worked for the firm between 1998 to 2001. Ms. Rangan plays an integral role in heading a global team in developing and maintaining senior level partnerships across a diverse range of industries that include Financial Institutions, Consulting Companies, Government Agencies, Corporates and Individuals. In this capacity, she works in connecting Singapore to the world through the provision of end to end services by the firm. She provides advisory services and feasibility studies in her areas of expertise in Banking, Financial Crime, HR and Government related licensing and grants. Ms. Rangan sits on the board of well reputed companies as well being on the approved list of directors to be on the board of Financial Institutions with the Monetary Authority of Singapore.

Between 2008 to 2015, Ms. Rangan was the Deputy Country Head for Wells Fargo Bank Singapore and was seconded from the US to take on this position. She had the overall responsibility for the Singapore branch in the area of correspondent banking for both Account Management and in Compliance. In this capacity, she had a keen sense of Product knowledge in Cash Management, Trade Finance, Credit, Factoring, Asset Management, Asset Distribution, FX, AML and Financial Crime. She also has the unique skill of being able to sell with risk in mind and is trained to provide AML advisory services as well as mitigations on the identified risks. Under her leadership, the revenues were the highest they had ever been during the branch’s 35 year history and to commend her efforts, she was bestowed with the Global Sales Champion Award by the bank.

From 2001 through 2008, Ms. Rangan held key Relationship Management positions in the United States in both Retail and Corporate Banking at Bank of America and Wells Fargo, USA as well as held a Managerial position with a large MNC, Enterprise Rent-a-Car. In these capacities, she was tasked with generating business while adhering to strict compliance centric culture. During her tenure, she was consistently recognized as a top performer and was invited regularly for the VIP circle award ceremonies within the banks.

With over 17 years of proven experience in International Relationship Management, Product Sales and Compliance, as well as in applying a strong expertise in data-driven, long-term strategic planning, Ms. Rangan is a welcome addition to the consulting services CPA-Partnership offers its clients.