This talk will cover KYC (for businesses) and AML from a global lens focussed on remittances, compliance best practices, technology/tooling around compliance. It will give introduction into how various data flows are structured for AML compliance, which geographies have most progressive AML technology both in terms of efficiency in bursting terror financing networks/money laundering as well as their data collection practices and privacy friendly nature. How does data localization impact remittances, AML/KYC and what are third party tools and services that are used for compliance.

Slides for the talk are available on: https://www.slideshare.net/secret/i62r90PZY6bo7f

Speaker bio

Kanchan Kumar is the co-founder and CEO of REMITR, the Toronto-based payments platform built specifically for small businesses. Active in the world of software technology since 1990, with nearly 30 years of experience, he is a seasoned professional with strong industry and technology understanding.

REMITR is his third venture as an entrepreneur. His previous startups, Fluous Solutions and Emportant Technologies, focused on enterprise solutions across accounting and HR. As a small business owner himself, he was frustrated with how difficult payments were using the traditional banking system. Kanchan knew he could build a better solution, so he did. REMITR now processes hundreds of millions of dollars annually, designed on the principle of facilitating businesses’ growth and global commerce.

About REMITR
REMITR is a Toronto-based fintech startup for small business payments, offering an alternative to wire transfers and bank visits to pay suppliers and staff. With an established global network, REMITR allows businesses to make fast—often one day—payments across Canada and in over 150 countries. The platform also offers free of cost collect accounts for USD and EUR. Co-founded by Kanchan Kumar and Sandeep Todi in 2016, REMITR now processes hundreds of millions of dollars annually and is backed by global investors such as Roots VC, Vijay Shekhar Sharma, Venture Highway, and Whiteboard Capital.

Anti Money Laundering (AML) in Remittances, Dataflows and Privacy