Anti-Money Laundering and Financial Crime Compliance in India

Abhishek Bali, CEO and Co-Founder of ZIGRAM, talks to Regulatory Ramblings about the state of AML and FCC in India, as well as the extent to which AI and machine learning can aid such endeavors, how India now has the largest concentration of AML and financial crime professionals in the world after the US, and what the drivers are of the country’s explosion of FinTech use and development, and regulatory oversight over the past decade. A point Abhishek emphasizes is that India has come a long way and it is now easier to do wholesale monitoring of people and transactions nationwide than ever before.

They also discuss how, of the approximately 175,000 banking and financial institutions across the world, most large AML solutions and data providers only focus on servicing the top 100-500 firms, leaving a long tail of unserved or underserved institutions that urgently need integrated FinTech and RegTech services.

Abhishek has over 15 years of expertise in Anti Money Laundering (AML), Financial Crime Compliance (FCC), data assets and third-party risk.