Why we are bringing global transaction monitoring insights to Sri Lanka

Almost every bank and finance company in Sri Lanka is now working on the same problem. Transaction monitoring is fast becoming a requirement, not a nice to have, and most institutions are busy evaluating tools for AML, fraud and monitoring before the regulator makes the call for them.

This is being driven by hard regulation. Under the Financial Transactions Reporting Act, No. 6 of 2006, every financial institution must carry out ongoing customer due diligence, monitor transactions, and report suspicious activity to the Financial Intelligence Unit. The Financial Institutions (Customer Due Diligence) Rules, No. 1 of 2016 set out what that monitoring, screening and reporting must look like in practice, and the FIU has already penalised institutions for falling short. With Sri Lanka's 2026 mutual evaluation now assessing how effective these controls actually are, and not just whether they exist on paper, a manual or box-ticking approach no longer holds up.

A free workshop series, led by people who have done this at the highest level

We are launching a free virtual workshop series on transaction monitoring, built for the compliance, risk and IT teams at Sri Lankan banks and NBFIs.

The series is led by the team at de Risk Partners, a compliance firm founded by Wall Street financial crime veterans, with a Swiss arm in Lucerne and a US arm in Connecticut. Our first session is delivered by their Founder and CEO, Ravi de Silva. Ravi spent twenty years inside the financial system, including as Global Head of Financial Crimes Compliance Testing at Citigroup, with senior roles before that at JPMorgan Chase and American Express.

Ravi is not doing this alone. The de Risk Partners bench is stacked with people who have sat on the regulator's side of the table. Cassie Schock, their Chief Operating Officer, began her career as a US Federal Reserve regulator, went on to lead sanctions and compliance operations at HSBC, including in Sri Lanka, and spent close to a decade as Head of Sanctions at BNP Paribas. Erin DeWitt, a partner, is a former US Federal Reserve examiner and bank Chief Risk Officer who has led high-stakes AML and fraud remediation at some of the largest institutions in the world. This is the depth of experience we are giving a Sri Lankan audience direct access to.

In other words, these are people who have procured the leading monitoring tools, designed the rule sets behind them, and answered to regulators for the results. That is exactly the kind of exposure the local market rarely gets to hear directly, and we want to bring it here.

Session one: From Risk to Rule

The first session covers how transaction monitoring actually works, what regulators expect, and how a risk turns into a working detection rule that holds up under scrutiny.

It runs on Wednesday 19 August at 3:00 PM, online, so you can join from your desk. It is free, and places are limited.

This is an education session, not a sales pitch. Whether or not you ever work with us, you will walk away with something useful.

Link to register for the webinar - https://forms.gle/v2aMtGDZNe5bKWhNA

Already procuring a system? Let's talk.

If your bank or NBFI is currently evaluating an AML, fraud management or transaction monitoring system, we would like to hear from you. Dossiers is a complete platform that covers all three needs in one place, and through our partnership with de Risk Partners you can get the technology and the consulting expertise to deploy it well as a single package. You get a system built to regulatory standard, plus the practitioners who know how to tune it to your institution's risk.

Get in touch with us to arrange a conversation or a demonstration.