The principles of Know Your Customer are a critical pillar to upholding an effective financial crimes framework and recent enforcement action by AUSTRAC has shown that many institutions have suffered some serious failures. The multi-cultural environment that is the Australian customer landscape provides numerous challenges to the KYC/CDD operations. Asian naming conventions differ immensely across the breadth of the Asian communities and people have been required to manipulate their names to suit the Western naming conventions and customer databases. This results in compromised data fields with a potential for inaccurate screening, large false positive returns and significant challenges, for investigators in both private and public sector, in ensuring investigations are focussed on the correct identity.
This webinar draws on the specialist onomatological experience of Dr Fiona Swee-Lin Price together with technology solution specialist Tony Fitzgibbon who will dig deeper into these unique challenges and solutions. The session will look at the construction of Asian names compared with Western names, how one name can be presented differently based on the questions we ask and how criminals can convert their name to create a false trail.
1 ACAMS Credit **Please note that ACAMS credit for this virtual event is available to members of the Chapter only.