Nepal’s apex banking academy, the National Banking Institute (NBI) has released an online certificate course on Trade-Based Money Laundering (TBML) Fundamentals in association with Fintelekt Advisory Services, a training, research and advisory services company focused on Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT).
“People with bad intention may exploit the complexities involved in trade for their own benefit and to the detriment of our economy. By investing into training of their key staff involved in trade finance, remittances, AML monitoring and operations, banks can play their part in prevention and detection of TBML in Nepal”, urged Kumar Lamsal, Chief Executive Officer, NBI while releasing the course in Nepal.
Shirish Pathak, Managing Director, Fintelekt Advisory Services added, “The Covid-19 pandemic has increased AML risks as criminals and fraudsters are looking to exploit the disruption created across the world. This is an especially critical time for bankers to be vigilant and aware of the various AML risks that they are dealing with, TBML being one of the largest.”
The online course on TBML Fundamentals is developed by Fintelekt Advisory Services, a company that operates across Asia. The course is specifically designed to help bankers understand the extent of the problem, various typologies, and the prevention and mitigation strategies available to banks.
The course balances theoretical aspects with real life case studies and incorporates quizzes and video content into a practical, easy-to understand module. Bankers that undergo the course and pass a comprehensive assessment following the course will be awarded a Fintelekt-NBI Certificate. Banks in Nepal may contact NBI for registrations and other queries related to the TBML Fundamentals course.