and LogicaCMG, jointly organized a seminar
on 'Know Your Customer (KYC) Anti-Money
Laundering (AML) issues for Indian Bank
on Saturday, October 22, 2005 at Hotel Taj
Lands End, Mumbai.
M R Umarji, Chief Advisor (Legal) IBA, in
his Welcome Address mentioned that the growth
of technology had reduced face-to-face interactions
with customers and increased the probability
of money laundering.
R N Ramanathan, Dy. Managing Director (IT),
State Bank of India delivered the Inaugural
Anand Sinha, Chief General Manager in Charge,
DBOD, Reserve Bank of India, in his Key
Note Address emphasized the importance of
making banks compliance with the anti-money
laundering process before December 31, 2005.
RBI had issued revised 'Know Your Customer
and Money Laundering' guidelines in November
2004. He also mentioned that the instructions
issued by the RBI are in alignment with
the recommendations of Financial Action
Task Force, an inter-governmental body that
develops and promotes national and international
policies to combat money laundering and
eminent speakers included Mr. Bhaskar Ghose,
Managing Director, Indusind Bank Ltd., Ms.
Judy Manners, COO, ING Vysya Bank Ltd.,
Mr. Ian Larkin, Head of Risk and Compliance,
Financial Services, LogicaCMG and Rajeev
Uberoi, Regional Head-Operational Risk (South
Asia), Standard Chartered Bank.
the Panel Discussion, all speakers responded
to a series of interesting questions from
Mr. Kannan Ramaswamy, Managing Director,
LogicaCMG, South Asia summed up the Seminar
Proceedings and proposed a Vote of Thanks
Seminar was well received by the banking
Presentations made during the session