Fraud & Financial Crime Asia 2023

Hosted by Regulation Asia

Thursday 13 July 2023 - Andaz Singapore

Lead Sponsors

BioCatch

Co Sponsors

Associate Sponsors

Supporting Organisations

Welcome

Regulation Asia’s Fraud & Financial Crime Summit is now in its third year. This one-day event will bring together industry experts, policymakers and technologists to provide fraud and financial crime practitioners with a comprehensive view of the evolving regulatory landscape, emerging risks and tactics used by bad actors, as the industry iniatives and technology tools being used to combat illicit activity.

Hosted in Singapore, in-person, with multiple breakout areas and private networking rooms, this event will be one of the largest gathering of financial crime compliance practitioners in the region.

Two private rooms will be running throughout the day hosting a series of private First-Come-First-Serve roundtables made available to attendees. Some of these will be hosted by our partner firms of the event, others by the Regulation Asia research & editorial team.

Event Sponsors

Lead Partner

Partners

Associate Partner

BioCatch

Exhibitor

Supporting Organisation

Keynote Speaker

Carmen Chu

Executive Director (Enforcement & AML)

Hong Kong Monetary Authority

Speakers

Erik Grossman

Senior Compliance Officer

OFAC

Sam Mannion

Head of Industry Engagement (OFSI)

HM Treasury

Jevgenjia Binkyte

Fraud Risk Officer (Asia-Pacific)

A.P. Moller - Maersk

Ng Kok Keong

Cluster Head of FCC Innovation, Data Analytics & Technology

Bank of Singapore

Hannah Puganenthran

Head of Compliance (APAC)

Wirex

Matthew Field

APAC Market Director, AML

NICE Actimize

Tim Dalgleish

VP Global Advisory

BioCatch

Grace Then

Associate Director – Financial Crime Practice Lead, ASEAN

Moody's Analytics

Su Kiang Lau

Executive Director - Conduct, Financial Crime & Compliance

SC Ventures

Andrew Marane

Director, Fraud Operations APAC/EMEA

Citibank

Neil Vaz

APAC FinTech Lead, Customer & Third-Party Risk

Refinitiv, an LSEG Business

David A. Wolber

Of Counsel

Gibson Dunn

Liliya Barchuk

APAC Chief Anti-Bribery & Corruption Officer

Citi

Lem Chin Kok

Partner & Head of Forensic, Asia Pacific

KPMG Singapore

Nathanael Lin

Partner

Rajah & Tann

Kenneth Zhu

Vice President, Data Science Lead

OCBC Bank

Natalie Curtis

Partner

Herbert Smith Freehills

Rory Doyle

Head of Financial Crime Policy

Fenergo

Graham Baldock

Head of Fraud Mitigation, Trade & Commodities

Standard Chartered Bank

Pratyush Prasanna

SVP Merchant Payments

GoTo Financial (Gojek)

Raaj Kumar Khetan

Executive Director, US Law Compliance Program, Financial Crime Compliance

Standard Chartered Bank

Ravin Kaur

Senior Policy Advisor, AML/CFT Expert

Companies Commission of Malaysia

Andrew Chow

Co-Chair

ACAMS Singapore Chapter ; APAC Fraud & Scams Work Group for GCFFC

Ramesh Moosa

Partner, Forensic & Integrity Services Leader, ASEAN & Singapore

EY

Pekka Dare

President

International Compliance Association

Nadia Ribeiro

Regional Director, Compliance MENAP & APAC

Checkout.com

Harsh Narula

Group Head, Platforms, Analytics & Surveillance Operations, Legal & Compliance

DBS Bank

Divya Das

Head of Compliance

Bigpay Singapore

Neeraj Bansal

Fintech & Ecosystem, Digital & Regtech

OCBC Bank

Andrea Amatuzio

Partner, Financial Crime Unit

PwC

Radish Singh

ASEAN Financial Services Risk Management Leader

EY

Agenda

08:15 – 09:00

Event Open & Networking 

09:00 – 09:05

Opening Remarks

09:05 – 09:20

Opening Keynote: A Strategic Response to Digital Fraud and Financial Crime

  • Anti-Fraud and Financial Crime Systems will change significantly over the next 5-10 years: this will represent an evolution rather than a revolution
  • We are going to see more rapid deployment of technology and various information sharing initiatives launched across the region
  • As the complexity of technology-enabled financial crime increases, displacement and regulatory arbitrage may also increase unless the response is strategic, coordinated and based on effective prioritisation of risks: the role of the public sector is vital in providing that leadership

Carmen Chu, Executive Director (Enforcement and AML), Hong Kong Monetary Authority

09:20 – 10:05

Panel: Old Problems, New Tools: Fighting Digital Fraud and Financial Crime in the Age of Generative AI 

  • Emerging challenges: Exploring the dark side of innovation, new challenges in digital fraud and financial crime as new tech emerges and necessitates more innovative approaches to combatting bad actors. 
  • Bad actor techniques and tools: Examining current trends in fraud and financial crime, and the most common tools and techniques employed by bad actors. 
  • Addressing risks and taking action: Exploring the use of data, AI/machine learning tools, and public private partnerships to enhance detection and prevention
  • Looking ahead: Identifying new risks on the horizon for FIs and consumers, including how generative AI may increasingly be used to facilitate digital fraud and financial crime  

Kenneth Zhu, VP, Data Science Lead, OCBC Bank
Harsh Narula, MD and Group Head, Platform, Analytics and Surveillance, Legal and Compliance, DBS Bank
Chin Kok Lem, Head of Forensic, KPMG Singapore
Pekka Dare, President, ICA (International Compliance Association)

Bradley Maclean, Co-founder, Regulation Asia (Moderator)

10:05 – 10:50

Panel: New Channels, New Risks: A Double-Edged Sword for Fraud & Money Laundering in New Payments & Embedded Finance 

  • Threat landscape: Examining the evolution of payment channels and the transformative impact of digital assets, GameFi, and embedded finance on the threat landscape.  
  • Industry and regulatory reaction: Exploring the reaction to new risks and typologies, including the introduction of new liability models, and new expectations on detection and prevention.
  • Evolution not revolution: Defining risk parameters and measures to enhance monitoring systems to adapt to the evolving threat landscape. 

Nadia Ribeiro, Regional Director, Compliance MENAP & APAC, Checkout.com
Matthew Field, APAC Market Lead, Anti-Money Laundering, NICE Actimize
Neeraj Bansal, Fintech & Ecosystem, Digital & Regtech, OCBC Bank
Pratyush Prasanna, SVP of Merchant Payments, GoTo Financial (Gojek)

Andrew Chow, Co-Chair, Singapore Chapter, ACAMS & Co-Chair, Fraud & Scams Work Group, APAC, GCFFC (Moderator)

10:50 – 11:10

Networking Break

11:10 – 11:35

Fireside Chat: Knock-on Effects: Assessing Emerging Geopolitical Risk and Sanctions Implications for Banks  

  • Understanding geopolitical risks: Exploring OFAC perspectives on interconnected geopolitical risks and their impact on banks, including sanctions, instability, and regulatory changes.  
  • Compliance challenges: Analysing evolving regulations and the sanctions landscape, and the challenges for banks in uncovering control relationships, performing due diligence, and enhancing monitoring and screening effectiveness.  
  • Risk management and resources: OFAC compliance expectations, resources available to mitigate sanctions risks, and understanding OFAC enforcement factors.

Erik Grossman, Senior Compliance Officer, OFAC (US Treasury’s Office of Foreign Assets Control)
Sam Mannion, Head of Industry Engagement, Office of Financial Sanctions Implementation (OFSI), HM Treasury

David A. Wolber, Of Counsel, Gibson Dunn (Host)

11:35 – 11:50

Presentation: Exploring the Global Sanctions Index, and the Challenges Facing Fintechs  

Neil Vaz, APAC FinTech Lead, Customer & Third-Party Risk
Refinitiv, an LSEG Business

11:50 – 12:30

Panel: Behind the Mask, Advancing Beneficial Ownership Transparency, Entity Resolution, Data Accessibility, and Professional Accountability  

  • Unmasking Hidden Owners: Exploring the challenges of beneficial ownership transparency, methods to uncover individuals behind shell entities, and tools to bolster investigation effectiveness.  
  • Strengthening Entity Resolution: Examining the techniques used to accurately identify entities involved in illicit activities and prevent financial crime.  
  • Promoting Data Accessibility and Accountability: Enhancing data access and professional responsibility to combat financial crime effectively.   

Ravin Kaur, Senior Policy Advisor, AML/CFT Expert, Companies Commission of Malaysia
Raaj Kumar Khetan, Executive Director, US Law Compliance Program, Financial Crime Compliance, Standard Chartered Bank
Rory Doyle, Head of Financial Crime Policy, Fenergo
Radish Singh, ASEAN Financial Services Risk Management Leader, EY

Bradley Maclean, Co-founder, Regulation Asia (Moderator)

12:30 – 13:30

Lunch Break

13:30 – 14:15

Panel: Machine Wars: Decrypting Fraud and Cybercrime Trends, the Shifting Liability Sharing Landscape, and Data-driven Countermeasures

  • Machine Wars: Delve into the emerging cybercrime and fraud threats, and their impact on the digital fraud and cyber landscape.  
  • Liability and Accountability: Discuss the evolving liability sharing models and how this is impacting the obligations and responsibilities of social media platforms, advertisers, tech companies, banks, and consumers.  
  • Countermeasures and Regulatory Complexities: Explore the countermeasures, data-driven strategies, technology tools, and collaboration initiatives being employed to mitigate cyber and fraud risk.

Tim Dalgleish, VP Global Advisory, BioCatch
Ramesh Moosa, Partner, Forensic & Integrity Services Leader, ASEAN & Singapore, EY
Andrew Marane, Director, Fraud Operations for APAC & EMEA, Citi
Natalie Curtis, Financial Services Regulatory Partner, Herbert Smith Freehills

Manesh Samtani, Editor, Regulation Asia (Moderator)

14:15 – 14:35

Fireside Chat: Re-Evaluating the Role of Trade Finance in Mitigating Financial Crime​ 

  • Are financial institutions adequately positioned to prevent financial crime through trade finance?
  • TBML mitigants currently in place, and their unintended consequences 
  • Effective mitigants for preventing commodities fraud  

Graham Baldock, Head of Fraud Mitigation, Trade & Commodities at Standard Chartered Bank

Nathanael Lin, Partner, Rajah & Tann (Host)

14:35 – 15:20

Panel: Securing the Chain: Managing Corruption and ESG-related Risks in Supply Chain and Third-Party Relationships 

  • Regulatory obligations for identifying and managing corruption risks in third party and supply chain relationships
  • Vulnerabilities in supply chain relationships, and challenges performing due diligence
  • Challenges, strategies and best practices for performing third party and supply chain due diligence

Grace Then, Associate Director – Financial Crime Practice Lead, ASEAN, Moody’s Analytics
Jevgenjia Binkyte, Fraud Risk Officer (Asia-Pacific), Maersk
Andrea Amatuzio, Partner, Financial Crime Unit, PwC South East Asia Consulting, Singapore
Liliya Barchuk, APAC Chief Anti-Bribery & Corruption Officer, Citi

Bradley Maclean, Co-founder, Regulation Asia (Moderator)

15:20 – 15:40

Networking Break

15:40 – 16:00

Fireside Chat: The Rise of the Machines: Perpetual KYC, Risk Scoring and PEP Screening  

  • Can machine learning be more predictive in keeping up with the risks posed by bad actors or politically exposed persons?
  • Will the increasing reliance on AI and machine learning create new challenges? What happens when things go wrong?  
  • Improving the effectiveness of machine learning in detecting and managing risks associated with bad actors and PEPs, and the potential challenges that arise from increased reliance on AI and machine learning.
  • The importance of robust PEP and sanctions data and its application in automated behavioural analytics in continuous KYC and customer monitoring. 

Rory Doyle, Head of Financial Crime Policy, Fenergo 

Nick Wakefield, Co-founder, Regulation Asia (Host)

16:00 – 16:40

Panel: Shades of Grey: Redefining Risk and Validation in Medium to High-Risk Jurisdictions and New Distribution Channels  

  • Advanced Risk Assessment in Complex Jurisdictions: Leveraging alternative data and technology for informed decision-making in medium to high-risk jurisdictions. Navigating compliance challenges and intricate regulatory landscapes. 
  • FRAML Risks in New Payment Channels: Exploring fraud risks in embedded finance and open banking. Utilizing technology, data, and regulations to detect and prevent fraud. Strengthening risk management frameworks through data analytics and innovative approaches.   
  • Evolving Validation Methods in Financial Environments: Examining changing validation techniques in dynamic financial landscapes. Discussing technology-driven solutions and best practices for validating transactions, identities, and compliance requirements. 

Ng Kok Keong, Cluster Head of FCC Innovation, Data Analytics & Technology, Bank of Singapore
Su Kiang Lau, Executive Director – Conduct, Financial Crime and Compliance, SC Ventures
Hannah Puganenthran, Head of Compliance APAC, Wirex
Divya Das, Head of Compliance, Bigpay Singapore

Nick Wakefield, Co-founder, Regulation Asia (Moderator)

16:40 – 16:45

Closing Remarks

Registration

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