Kathmandu, July 28

Standard Chartered Bank organised a ‘Correspondent Banking Academy Workshop’ here today with an aim to update Nepali banks on emerging risks leading from financial crimes and to create awareness around compliance and best practices for mitigation of potential risks.

Inaugurating the workshop, Shiba Raj Shrestha, deputy governor of Nepal Rastra Bank, said that the workshop would help Nepali banks to understand and migrate some of the best international best practices in their fight against financial crime.

The workshop was facilitated by resource persons from Standard Chartered, as per a media release.

Gurpreet Dhaliwal, correspondent banking due diligence team member based in Singapore, had set the scene by sharing the world of financial crime compliance.  He shed light on emerging terrorist financing risks and developments in international sanctions arena.

Dhaliwal also shared tips of getting the basics right for AML/CFT and the role of financial institutions in the fight against human trafficking, the release says.

Shivaraman Subramanian, executive director and regional head of transaction banking for SA, highlighted emerging trends in correspondent banking.

Naofumi Sukegawa from SWIFT explained the ‘Know Your Customer’ registry under SWIFT.

Rajesh Bastola, head of financial crime compliance for Standard Chartered Nepal, touched upon the trade-based money laundering risks.

The workshop was attended by 82 senior resources of 28 Nepal-based commercial banks.