MDP on “Know Your Customers (KYC), Safeguard Against Money Laundering (AML)”

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Centre for management development, Pillai Institute of Management Studies and Research organized an MDP on the topic “Know your customers (KYC), safeguard against money laundering (AML)” for executives from the banking sector on 3rd August, 2013 at Dr. K. M. Vasudevan Pillai Campus, Sector 16, New Panvel.

International faculty Mr. Suresh Soundarrajan, CAMS

Case study session in progress

Dr. Priam Pillai, COO, MES inaugurating the MDP

Session fecilitated by Dr. G. Vijayaragavan, Director, PiMSR

The MDP was conducted by distinguished personality and an International subject expert in AML domain Mr. Suresh Soundarrajan – Vice President (AML), Citibank, Malaysia. Mr. Soundarrajan is a certified anti money laundering specialist from CAMS, USA, a forensic accounting specialist and a fraud examiner. Mr. Soundarrajan has been delivering AML programs across the globe and is a sought after faculty on AML subject.

The program was attended by over 30 executives from leading public, private and co-operative sector banks besides select students.

Mr. Soundarrajan shared his international experience on tracking money laundering done by different groups and its impact in the Indian context. He suggested checks on controlling money laundering and the vigilance to be exercised by the bankers. Taking cue of Mr. Soundarrajan’s lecture, the participants raised many queries on the subject and Mr. Soundarrajan answered them on one to one basis for addressing the menace of money laundering.

The participants appreciated the program and described it as one of the best training program they ever attended on this subject.

Due to recent exposures in the area of money laundering and violation of KYC norms, the RBI has been tightening the regulatory mechanism and compliance with established norms and practices. This program was planned at the right time and would come handy for the executives who attended the program and help their organizations.