Akshai Kumar

About Akshai Kumar

Experienced Financial Crime and Compliance professional with a strong background in…

Experience

1. Aml Analyst

   TP

   Jun 2023 — Present · Chennai, IN

   Identify Trigger EventsA trigger event is an unusual activity or behavior in a customer’s account, such as a sudden influx of large transactions, high-risk transactions, or activity inconsistent with the customer\'s profile. Trigger events help in identifying potentially suspicious activity that requires closer inspection.• Determine the Reason for AssessmentThis involves assessing whether the event aligns with potential money laundering patterns or regulatory red flags. Documenting the reason for assessment is essential, as it justifies why the transaction is subject to further analysis.• Conduct Customer Due Diligence (CDD)This includes verifying the customer’s identify, background, occupation, and business profile to see if they align with their transaction.• Check for Adverse MediaConduct an adverse media check, often known as a negative news search, to see if the customer has been involved in any activities associated with money laundering, fraud, or other criminal activities. Negative media can often uncover risks that may not be evident from transaction data alone.• Verify Supporting DocumentationReview any documentation provided to support the transaction, such as invoices, contracts, or bank statements. Verification of documents helps establish the legitimacy of the transaction.• Analyze Transaction Patterns and Red FlagsEvaluate the transaction in the context of the customer’s historical transaction patterns and consider if it deviates significantly from their normal activity. Analyze for red flags such as unusual amounts, round number’s, repeated transactions just below reporting thresholds, or other indicators of structuring or layering.• ConclusionBased on your findings, decide whether the transaction is suspicious and document a clear conclusion. If suspicious, escalate the case for further investigation or file a SAR. If it’s a low-risk event with a valid explanation, close the case with a record of the assessment.

Education

• University of Madras

  Bachelor of Commerce - BCom

• University of Madras

  Master's degree