Who is Abhishek Dwivedi ?

I am a citizen of India and working as an Anti Money Laundering (AML)  expert for Global financial institutions based out of Netherlands. My experience goes into improving transaction monitoring systems so that they perform to the type of business, geography or type of customer being monitored. I have worked at large financial institutions like Rabobank, ING Bank and ABN AMRO, rolling out AML solutions globally, taking a standardized approach with local requirements into consideration. I have worked on both risk based approach (EU and Asian markets) as well as Rule based approach (US and UK prominently).

Working on different AML transaction monitoring systems (Mantas, Fiserv AML manager, Norkom/Detica), I have developed the expertise in adapting any AML system to Compliance specific requirements and deliver quality results (in common language: reduce false positives). Same as every other financial institution, these AML tools allow the banks to follow local/global regulatory requirements, but when it comes down to the quality of alerts generated (be it any tool), they are not used in an optimal manner. I have implemented many features which can highly increase the quality of alerts generated. Such measures can decrease false positives and in the end lower your workload.

Does your AML transaction monitoring deliver what you want?

In my experience of working with different AML systems I have encountered many situations where the biggest concern shared by the end users is the sheer volume of alerts their AML tool generates.  I know exactly where the problem lies : “gap between requirements and its implementation“.

It’s never late to correct what has been done wrong. Your IT will make you believe that changing the AML tool will solve your problem, but NO it will only increase your expenses (new Vendor, new implementation, new project roll-out and aftercare etc.) as the real problem lies elsewhere.

This is where I can help you. I am an experienced Data Miner with an IT background (Bachelor of Technology in Computer Science) and expertise in Anti Money Laundering, which allows me to bridge the gap between compliance requirements and AML tool implementation.

My approach is simple and three folds:

  1. Discuss the requirements with Compliance and list them down;
  2. Investigate all available features in your AML tool;
  3. Map the requirements to these features for a matching end solution with best results.

It may sound some basic steps but this the biggest gap most of the institutions have in my experience, when I talk to other industry experts in this area. Once you narrow down to core issue, its a matter of time when you can get a clearer solution in place.

One word of caution! As you may know already, data is the key. AML systems work on “garbage in garbage out” principal. So if you can ensure that you can provide correct data, I can ensure that your AML system delivers what you require, better quality alerts.

Is your transaction monitoring complete?

It can happen that you are monitoring only a subset of your transactions due to lack of knowledge in monitoring certain products in an automated fashion. It can be the kind of business you are in, the products you offer or a specific kind of customers whom you are servicing. These are the several factors which should be taken into account while defining the monitoring system. Unfortunately this is mostly not the case and introduces a big gap.

My approach to such situations is to first understand the business/products and based on my experience highlight the possible AML risks in such area. Once we have a clear undestanding, I define possible monitoring scenarios which can detect suspicious activities in this business/products. In my experience if this exercise is not performed properly, your AML solution will end up in another tick in the box affair.

Why do you need my help?

AML transaction monitoring is an ongoing process which needs periodic review. You do not need someone activity looking at it, but definitely need periodic reviews to make sure you are still up to date. This is where I can be of help. If you can relate your problem to the one I have described earlier, please feel free to contact me and I can help you narrow down the areas of concern and help your further in improving your AML system. My approach is to make the grey areas black and white and ensure that your local IT has sufficient knowledge of your business needs in their language so that they can deliver the right solution on their own.


Contact: abhishek [ at ] amlabc.com / +31650437240

Note: Visit my LinkedIn profile for more details on what I have been doing…

View Abhishek Dwivedi's profile on LinkedIn


P.S: In my free time I take out my camera and roam around here and there to click some decent pictures. You can view my collection at www.abhi.nl

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