This webinar will discuss the techniques for controlling and managing High Risk Transaction. The Instructor will discuss the parameters for identifying and qualifying transactions as high risk and process and communication to be followed. He will also discuss how to resolve the end result.
AML operations, systems, and processes are designed to provide sound compliance and appropriate reporting of Suspicious Activity to Regulators on SARS. Properly identifying the high-risk activity will focus compliance priorities properly. Properly managing high-risk transactions when they are identified is equally important. Together, they help avoid reporting failures which can lead to sanctions against the bank.
This topic covers both the identification and the management aspects of high-risk transactions. International Correspondent Banking is a particularly high risk area with its own unique risk set.