51 episodes

Fintelekt is a specialist in research, training and advisory on Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT). Watch these podcasts which include conversations on AML/CFT related topics with various industry experts.

Fintelekt Fintelekt

    • Business

Fintelekt is a specialist in research, training and advisory on Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT). Watch these podcasts which include conversations on AML/CFT related topics with various industry experts.

    Fridays with Fintelekt featuring Tadeo Jun Claravall, The Financial Crimes

    Fridays with Fintelekt featuring Tadeo Jun Claravall, The Financial Crimes

    A milestone is reached for Fridays with Fintelekt today as Shirish Pathak, Managing Director, Fintelekt hosts his 50th guest Tadeo Jun Claravall, Founder, The Financial Crimes, and a student and teacher of financial crime risk and compliance.

    In the conversation, Jun explains the motivation behind his recently published book, Financial Crime Fighter – Book of Mentors, which is a collaboration with 30 global leaders in anti-financial crime.

    His goal for the book is to provide financial crime fighters all over the world with a secret weapon - access to advice, experiences and guidance from 30 global leaders as mentors that they can relate to.

    Kudos to Jun's decision to donate the profits of his book to support the fight against modern slavery!!

    More about the book here: www.thefinancialcrimes.com/book

    Besides revealing some golden nuggets from his book, Jun shares his thoughts on what might be the ideal characteristics and what he calls 'real' skills (not soft skills) needed for a financial crime fighter.

    In his opinion, a supportive organisational culture is important, but not a necessary element to becoming an effective financial fighter.

    Listen to the 50th episode of Fridays with Fintelekt for an energizing and motivating dedication to Financial Crime Fighters across the world!!

    • 23 min
    Fridays with Fintelekt featuring Peter Piatetsky, Castellum.AI

    Fridays with Fintelekt featuring Peter Piatetsky, Castellum.AI

    On Fridays with Fintelekt today, hear from Peter Piatetsky, Co-Founder and CEO, Castellum.AI as he provides his expert comments and analysis on the global sanctions regime, with host Shirish Pathak, Managing Director, Fintelekt.

    Peter has had a stint supporting US military operations and then with the US Treasury as senior policy advisory for Iran. His experience on the challenges in accessing data on sanctions led him to found Castellum.AI with the mission of building a 'google' for compliance, an easy to access online platform at an affordable price point so that anyone globally can find compliance data.

    Sanctions have evolved over the years from the level of countries to individuals to sectors. They been used for a variety of reasons from political to counter-terrorism, law enforcement, corruption and human rights. Peter believes that sanctions can be used as a very successful tool if there is a specific goal. The broader that goal, the more difficult it is to achieve via sanctions.

    Within the conversation, Peter takes us through many interesting insights on the US sanctions against Turkey, the current situation in Afghanistan, and the US-China conflict following the Anti-Foreign Sanctions Law. He also speaks about his research on human rights violations caused due to sanctions.

    For all of this and more, tune in to the entire episode!

    • 25 min
    Fridays with Fintelekt featuring Ross Delston, Attorney & Expert Witness

    Fridays with Fintelekt featuring Ross Delston, Attorney & Expert Witness

    On Fridays with Fintelekt this week, host Shirish Pathak, Managing Director, Fintelekt is joined by Ross Delston, Expert witness, attorney & former US banking regulator (FDIC), who shares his varied experiences in policy responses to trade-based money laundering and trade-based terrorist financing, anti-corruption, corporate transparency and the risks from new technologies.

    Our key picks from this interesting conversation full of anecdotes and experiences from Ross's long career are:


    There hasn't been much progress in combating TBML and that all elements in the trade supply chain should be covered by an AML programme, and made to file STR reports to achieve any tangible results.
    Ross compares the new AML law in the US, especially in the area of public access to beneficial ownership registries, with that across the European Union, India and other countries.
    On NFTs and ICOs, he believes speculation may be a more important issue than money laundering fuelled by the huge rise in prices of various classes of assets over the years.
    Conviction rates in money laundering are often low because understanding the flow of money, and especially explaining it to a jury, is difficult and it may be easier to prosecute the predicate crime rather than money laundering.

    For more expert comments, please view the entire episode.

    • 30 min
    Fridays with Fintelekt featuring Dr. J. Michael Skiba, International Financial Crime Expert

    Fridays with Fintelekt featuring Dr. J. Michael Skiba, International Financial Crime Expert

    Fridays with Fintelekt today features J Michael Skiba, international financial crime expert, with host Shirish Pathak, Managing Director, Fintelekt Advisory Services in a conversation around fraud. Michael, popularly known as Dr. Fraud, has had several years of experience helping individuals and corporations become safer against frauds, scams and schemes.

    Michael's experience shows that in the financial services sector, fraud is more a matter of opportunities, as 96% of people committing fraud have no criminal history. He says that the Covid-19 pandemic has changed many aspects of the ecosystem due to the transition to work from home, creating gaps in data security and increased stress on companies. This has also reduced the personal thresholds at which people respond to an opportunity to commit fraud.

    With increasing automation and the use of technology, his concern is that the human element in fraud management is getting lost. Corporations need to continuously train people and build expertise in running automated platforms. He recommends the creation of a task force with people across various departments to share insights and create a sense of synergy and cooperation in fighting fraud.

    To develop a strong deterrent against fraud, Michael feels that it is not just the creation of laws, but the support and proper enforcement of the laws that is critical. The lack of information sharing is another challenging aspect of fraud detection that needs to be addressed.

    Listen to the entire episode for more insights on organisational culture, criminal behaviour and rationalisation of fraud from his book "The Psychology of Fraud".

    • 21 min
    Fridays with Fintelekt featuring Jessica Davis, Insight Threat Intelligence

    Fridays with Fintelekt featuring Jessica Davis, Insight Threat Intelligence

    Fridays with Fintelekt today features Jessica Davis, President, Insight Threat Intelligence, an expert on terrorist and illicit financing, with host Shirish Pathak, Managing Director, Fintelekt Advisory Services.

    Jessica explains the implications of the complex situation in Afghanistan, and the likely evolution of Al Qaeda, ISIL-KP, their own strategic objectives and their relationship with the Taliban in the region. All of these groups are drawing resources from Afghanistan, but counter terrorism financing (CTF) options with the global community are fairly limited, especially without any CTF forces on the ground.

    On CTF methods in general, Jessica strongly believes that all of the current measures have negative externalities, and that as a CTF community, some of the human rights or financial implications of CTF measures may have been glossed over. There is a need for the AML/CFT community to take a long hard look at regulations and recommendations and ensure that they are tied directly to observable and prevalent terror financing mechanisms.

    Jessica is the author of the highly rated book Women in Modern Terrorism (2017) and is slated to publish another one Illicit Money: Financing Terrorism in the 21st Century in September 2021. In the conversation, she also speaks about the motivation behind her research and the various perspectives she has explored in her books.

    Visit the website of Insight Threat Intelligence https://www.insightthreatintel.com/ for more insights and analysis around Jessica's work and the books she has authored.

    • 36 min
    Fridays with Fintelekt featuring Shawki Ahwash, North Africa Commercial Bank

    Fridays with Fintelekt featuring Shawki Ahwash, North Africa Commercial Bank

    This week Fridays with Fintelekt hosted by Shirish Pathak, Managing Director, Fintelekt features Shawki Ahwash, Head of AML/CFT & Sanctions Division North Africa Commercial Bank from Beirut, Lebanon.

    A career banker, Shawki enjoys sharing the knowledge that he has gained with others through training and teaching. He feels that AML/CFT is a dynamic and evolving field and technology has changed everything about it - be it onboarding, profiling or monitoring of customers and transactions.

    During the Covid-19 pandemic, banks have had to take proactive measures to combat fraud and cybercrime and have had to sensitize their clients. The need of the hour is to upgrade and re-skill front-line staff that is dealing directly with the customer.

    For AML/CFT to become more effective, he recommends that banks and financial institutions conduct a separate risk assessment for sanctions and AML, ascertain the quality of data to reduce false positives and move away from filing defensive STRs. High quality STRs which provide the underlying predicate offence, an elaborate narrative, profile of clients and the circumstances of the transaction to the extent possible will contribute to the regulator's database and aid the understanding of newer trends and typologies.

    On the new AML law in the UAE, Shawki thinks that many Arab or GCC countries may copy some of the steps - around screening, targeted financial sanctions, DNFBPs, etc. - to fortify their regulatory environment on anti-financial crime.

    For many regional trends and insights on crypto, financial inclusion, screening, and others, tune in to the entire episode.

    • 23 min

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