Fintelekt-ABA Virtual Workshop on Introduction to Correspondent Banking Due Diligence

Fintelekt Advisory Services and the Asian Bankers Association will jointly organise a comprehensive virtual workshop on an Introduction to Correspondent Banking Due Diligence.

Across the globe, financial institutions are tightening their controls to combat money laundering and financial crimes. Our reliance on correspondent banking for international trade necessitates a proactive approach to fortify and keep nefarious actors out of our financial systems.

Correspondent banking relationships present multiple financial crime risks that compliance officers and institutions need to manage vigilantly.

Effective risk management in correspondent banking requires rigorous due diligence, continuous monitoring of transactions, and strong internal controls to identify and mitigate these financial crime risks.

It is only by enhancing our capabilities and fostering collaborative efforts, can we build a resilient and secure financial landscape that can withstand the challenges posed by illicit activities and ensure the sustainable development and prosperity of our global economy.