Financial Crime Risk Management

KYC Nepal’s event that marked the beginning of several great ventures took place on 9th March 2017 at Hotel Annapurna, Kathmandu, Nepal. An invitation was extended to the CEOs and Compliance Heads from the Commercial and Development Banks, members of Government Agencies and other remarkable personalities from the industry. These invitations were successfully extended through NBA (Nepalese Bankers’ Association) and DBAN (Development Bankers’ Association Nepal).  

 KYC Nepal was established with the mission and vision to help Nepal’s economic development by strengthening its capability to combat financial crime. Falling along the same lines, the main objective behind our event was to raise awareness about the AML/KYC practices in the Nepalese context and to further explore about how to better regulate these practices through advanced technologies and proactive measures.  

 A significant portion of our discussions also revolved around KYC Nepal’s formal introduction and commitment to multiple operations that contribute to the country’s AML/KYC programs. These were followed by a demo of our technology solutions. We also announced our collaboration with ComplyAdvantage, a leading provider of AI based solutions for AML compliance and facilitated a live demo session of their AML Screening and Transaction Monitoring solutions.  

The agenda for the event was laid in close coordination with the NRB Director Mr. Devendra Gautam representing FIU bestowed the event with his appearance as the Chief Guest. He also gave a presentation on the current status of the AML/KYC practices in the industry and their preparation for FATF 2020. Several major business personalities including Mr. Anil Shah (Nabil Bank), Mr. Ashoke Rana (Himalayan Bank Ltd.), Mr. Gyanendra Dhungana (Nepal Bangladesh Bank), Mr. Pradyuman Pokhrel (Muktinath Bikas Bank) were present at the event. 

The event helped us to build and develop strong relationships within the industry which is crucial for a Financial Reg-Tech like us that has just been set up. The final leg of the event consisted of a Q/A session with the guests. All in all, the event was a successful one with a large audience which gave us an opportunity to network, speak about our intentions, efforts and raise awareness and clarity about KYC utility and other significant ideas.

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