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IBA-LogicaCMG Seminar on
'KYC AML issues for Indian Banks'

IBA 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.

Mr. 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.

Mr. R N Ramanathan, Dy. Managing Director (IT), State Bank of India delivered the Inaugural Address.

Mr. 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 terrorist financing.

Other 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.

During the Panel Discussion, all speakers responded to a series of interesting questions from the participants.

Mr. Kannan Ramaswamy, Managing Director, LogicaCMG, South Asia summed up the Seminar Proceedings and proposed a Vote of Thanks

The Seminar was well received by the banking fraternity.

Presentations made during the session





Wednesday, December 07, 2016
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