Praharsha Reddy
KYC Analyst
Bangalore,Karnataka
Summary
Seeking a career to utilize my knowledge, personal skills to gain comprehensive understanding of a reputed organization so as to take responsibility and contribute significantly
Overview
4
4
years of professional experience
4
4
Languages
Work History
Complex Investigator
EY
Bangalore
10.2024 - Current
- Working as complex investigator
- Conduct comprehensive research investigations on transactions, individuals, entities, identify and mitigate financial crime and reputational risks & identifying the fraudulent activities on the account and off- boarding (internally) and reporting the user's accounts externally (Suspicious Activity Report) to the respective authorities
- Reviewing, investigating and reporting money laundering cases and business accounts.
- Providing the on-going monitoring and resolving of formal complaints and Financial Service complaints related to the Financial Investigations.
- Support transactions monitoring of banking activity and report any concerns/suspicious activity to the MLRO.
- Repatriating the fraudulent funds to the victim sources by indemnity or to the respective banks.
- Deep investigation on the Potential expose persons (PEP) accounts as source of funds and source of wealth of the user account and searching for the online presence of the user and taking the necessary action on the user's account.
- Performs analysis to identify possible front-end and back-end fraud
- Identify multiple fraud types such as-( ATO, APP, Elder Abuse, Identity theft, first, second- and third-part frauds Generation scams, etc.) and mitigate those
- Reviewing, investigating and reporting money laundering cases
- Review the associate accounts where the funds are being received and being transferred.
- Performing external open search to understand any negative news on the main suspect.
- Performing KYC check to validate original document being submitted.
- Off- boarding the client is he has been involved in terms and condition breach.
- Reporting to the regulatory National Crime Agency if any Financial Crime is being observed.
- Acting as a point of contact for the law enforcement agencies in the ongoing criminal investigations that commenced from the submitted SAR.
KYC
KPMG
Bangalore
11.2022 - 07.2023
- Working as kyc in KPMG starting date 07 NOV 2022 to 31 July 2023.
- Worked in END To END KYC
- Performing end to end KYC I.e code review, STD/TDD for corporate customers register in UK.
- Research on KYC due diligence on a wide range of entity type e.g., partnership, sole trader and private limited company.
- Prepare ownership structure for private limited companies and UK limited by guarantee by making use of company house.
- Perform screening on client IBO,UBO and key controller to identify negative information PEP and sanction exposure in oneklick check escalate to financial crime control and RM.
- Identifying ultimate beneficial owner, director, significant controller and authorized signatories. collecting relevant document as per policies.
- Conduct ID and V checks for associate party.
- Performing standard due diligence on entity by identifying its nature of business and sic code.
- Conducting site due diligence using external source such as Google Street view and UK royal mail post.
- Monitoring and analyzing alert/case to identify possible patterns of Money Laundering and Terrorist Financing activities, ensuring compliance and applicable internal policies and procedures. Also escalate potential risks and operational issues as appropriate to the relevant authority.
- Conducting investigation that utilized internal and external databases to compile a portfolio of information on customer, counterparties and Entities involved.
- Responsible for identifying and researching the patterns, trends and anomalies in complex transactional and customer data to detect, prevent, mitigate and report suspicious activity to prevent fraud, money laundering and identity theft losses.
- Adept at processing KYC for various entities and skilled in managing red flagged cases while performing due diligence for a wide range of clients encompassing small to complex structures
- Successfully review and screen customers' accounts while analyzing transactions and monitor profiles for authenticating and verifying profiles Steering organizational goals by monitoring anti-money laundering risks and consequently fostering client relationships
- Prevent money laundering, terrorist financing and other illegal activities.
- Collect most accurate data for compliance purposes.
- Performed the requires KYC details on customer documenting the information obtained on the clients as require by kyc procedure.
- Furthermore, highlight by any red flag/ suspicious activities to sme and escalate to the bank :
- 1.
- Data Collection
- :
- -
- Customer Information
- : Collecting detailed information about the customer’s identity, business activities, and financial behavior.
- -
- Transaction Data
- : Gathering data on all transactions, including amounts, frequency, and counterparties.
- 2.
- Establishing Baselines
- :
- -
- Normal Activity Profiles
- : Creating profiles based on typical transaction patterns for each customer, considering factors like their business type, geographical location, and historical behavior.
- 3.
- Automated Monitoring Systems
- :
- -
- Rule-Based Systems
- : Using predefined rules to flag transactions that deviate from expected patterns. For example, unusually large transactions or transactions with high-risk countries.
- -
- Machine Learning Models
- : Implementing advanced analytics and machine learning to identify subtle patterns and anomalies that might indicate suspicious activities.
- 4.
- Risk Scoring
- :
- -
- Transaction Risk Assessment
- : Assigning risk scores to transactions based on various parameters, such as amount, frequency, and nature of the transaction.
- -
- Customer Risk Rating
- : Continuously updating the risk profile of customers based on their transaction history and any new information.
- -
- Thresholds and Scenarios
- : Generating alerts when transactions exceed certain thresholds or match predefined suspicious scenarios.
- -
- Red Flags
- : Identifying specific red flags such as rapid movement of funds, frequent international transfers, or transactions involving high-risk jurisdictions.
- 6.
- Investigation and Reporting
- :
- -
- Alert Review
- : Compliance teams review generated alerts to determine whether they warrant further investigation.
- -
- Suspicious Activity Reports (SARs)
- : Filing SARs with relevant authorities if a transaction is deemed suspicious after investigation.
- 7.
- Continuous Improvement
- :
- -
- Feedback Loops
- : Incorporating feedback from investigations and regulatory changes to refine monitoring rules and models.
- -
- Regulatory Updates
- : Ensuring systems and processes are updated to comply with evolving regulatory requirements.
- 8.
- Integration with KYC
- :
- -
- Enhanced Due Diligence (EDD)
- : Applying EDD for high-risk customers, which includes more rigorous transaction monitoring and additional verification steps.
- -
- Customer Reviews
- : Periodically reviewing and updating customer profiles and risk ratings based on their transaction history.
- -
- Risk Mitigation
- : Helps in identifying and mitigating risks associated with money laundering, terrorist financing, and other financial crimes.
- -
- Regulatory Compliance
- : Ensures adherence to regulatory requirements, avoiding fines and penalties.
- -
- Reputation Management
- : Protects the institution’s reputation by preventing involvement in illicit activities.
- -
- Operational Efficiency
- : Automated systems improve efficiency by reducing the manual effort required to monitor transactions.
Transaction Representative, Operations
Concentrix
Bangalore
11.2021 - 11.2022
- Worked as "Transaction Representative, operations" NOV 2021 TO NOV 2022
- Monitoring and analyzing alert/case to identify possible patterns of Money Laundering and Terrorist Financing activities, ensuring compliance and applicable internal policies and procedures. Also escalate potential risks and operational issues as appropriate to the relevant authority
- Performing end to end KYC I.e code review, STD/TDD for corporate customers register in UK.
- Prevent money laundering, terrorist financing and other illegal activities
Associate
AUTHBRIDGE
06.2021 - 11.2021
- Worked as associate in JUNE 2021 TO NOV 2021 background verification process
Associate
Wipro
11.2019 - 09.2020
- Worked as Associate in Nov 2019 to SEP 2020 in Transaction monitoring
- Monitoring and analysing alert/case to identify possible patterns of Money Laundering and Terrorist Financing activities, ensuring compliance and applicable internal policies and procedures. Also escalate potential risks and operational issues as appropriate to the relevant authority.
- Conducting investigation that utilized internal and external databases to compile a portfolio of information on customer, counterparties and Entities involved.
- Responsible for identifying and researching the patterns, trends and anomalies in complex transactional and customer data to detect, prevent, mitigate and report suspicious activity to prevent fraud, money laundering and identity theft losses.
Education
BA Arts - H.E.P
Krishna University
Vijayawada01.2018
PUC -
NRI Academy
Vijayawada01.2015
SSLC -
Sai Baba E Techno High School
Kadapa01.2013
Skills
Customer Due Diligence (CDD) / Enhanced Due Diligence (EDD)
Transaction Monitoring
Suspicious Activity Reporting (SAR/STR)
Risk-Based Approach (RBA)
AML/KYC Regulatory Compliance (eg, FATF, FinCEN, OFAC, EU AMLD)
Politically Exposed Persons (PEP) Screening
Sanctions Screening (OFAC, UN, EU)
Beneficial Ownership Identification
KYC Onboarding and Periodic Reviews
Anti-Money Laundering Risk Assessment
AML Investigation & Case Management
Adherence to BSA/AML Regulations (Bank Secrecy Act)
Fraud Detection and Prevention
Interests
Listening Music, Travelling new places
Achievements /Extracurricular activities
Participated In dance and Running Race. Participated in Few Inter College Commerce Fests Held Outreach Program Along with The Team to An Old Age Home.
Timeline
Complex Investigator
EY
10.2024 - Current
KYC
KPMG
11.2022 - 07.2023
Transaction Representative, Operations
Concentrix
11.2021 - 11.2022
Associate
AUTHBRIDGE
06.2021 - 11.2021
Associate
Wipro
11.2019 - 09.2020
BA Arts - H.E.P
Krishna University
PUC -
NRI Academy
SSLC -
Sai Baba E Techno High School