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Shirish Netke

Shirish Netke

President at Amberoon
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Bio Shirish Netke is president and CEO of Amberoon Inc., a provider of solutions to measure, monitor and manage risk and compliance for banks and financial institutions using contemporary technologies. Career History Shirish has worked with Fortune Global 1000 companies in 35 countries on problems related to business process and technology. His recent work focuses on business oversight, compliance and process automation based on emerging technologies such as Big Data, predictive modeling and machine learning.

Blogs

Banking Regulations

US Treasury's Strategy 2020 - A Risk-based Approach to AML

10 Feb 2020

Last week, the US Department of Treasury published its 2020 Strategy document that "employs a whole-of-government approach to guide the public and private sectors in addressing 21st century illicit finance challenges." The report highlights the risk-based approach as central to the 2020 Strategy. The report classifies vulnerabilities a...

Artificial Intelligence and Financial Services

What is Agile Compliance ?

28 Nov 2019

As more banks make headlines through failing to effectively monitor and report on money-laundering activity, we need to rethink the AML problem and the roadblocks to solving it. To restate the problem, we have $2T laundered through the banking system every year. About $25B is intercepted by law enforcement and $70B is spent by banks on AML. And yet...

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Banking Regulations

The Red Pill Realities of Anti Money Laundering

20 Jan 2019

Money laundered through the banking system is estimated to be over 2 trillion dollars a year. A recent study by BAFT (Bankers Association of Finance and Trade) estimates that 1% of the proceeds from financial crimes are intercepted. Meanwhile, nine out of ten suspicious activities flagged by AML software in banks are false alarms. Let’s put these ...

Banking Regulations

RegTech: Systems of Insight to Guide AML

18 Aug 2018

On the same day that the prosecution rested its case against Paul Manafort, the U.S. Attorney’s office in Tucson, AZ got a seven-year sentence against a fraudster for a money-laundering scheme; a former Microsoft employee was sentenced to 18 months after pleading guilty to conspiracy to commit money laundering; a messy FBI sting involving money l...