Fintelekt-ABA Virtual Workshop on AML Risks in Private Banking

Fintelekt Advisory Services and the Asian Bankers Association will jointly organise the next virtual workshop on AML Risks in Private Banking.

This workshop will provide a targeted exploration of the unique challenges associated with managing AML risks in the private banking sector. Private banking caters to high-net-worth individuals who require personalized financial services, such as investment management, wealth planning, and estate structuring. Due to the complex financial structures and the nature of the clients they serve, private banking services are particularly vulnerable to money laundering activities. This workshop will equip participants with the knowledge to identify and mitigate these risks effectively.

Through an analysis of key money laundering cases with a Singapore nexus, attendees will gain insights into the methods used to conceal illicit activities and the red flags to watch for, emphasizing the impact on private banking operations and the importance of fostering a strong risk culture and conduct risk management. Participants will leave with a deeper understanding of how to protect their institutions from the risks inherent in private banking services.