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Experience the FIBA A Linking Global AML Complian What’s New in the AML Landscape? Speakers from multiple financial industry participants share perspectives on emerging money laundering and terrorist financing topics and highlight what’s looming on the horizon. Evolution in Financial Intelligence Units From their private sector beginnings in the late 1990s, banks’ FIUs have shifted from collecting and analyzing AML-related information to developing an environment of proactive financial intelligence relating to all financial crimes: money laundering, external and employee fraud, global sanctions, anti-corruption, even high risk customer due diligence. The panel will discuss this evolution and some current challenges, including cross-border information sharing and privacy issues across affiliates, and balancing often conflicting interests and expectations of law enforcement and regulators. Brokerage Industry and Wealth Management Nexus of Cyber Fraud and Money Laundering What’s really taking place in anti-fraud and AML departments - parallel activities or joint collaboration? Cyber fraud has moved from intrusion and penetration of financial institutions to well organized, cross border financial crimes targeting banks’ and customers’ assets. What do financial institutions, security and compliance units need to know? How can they adapt to address these complex threats? Correspondent Banking Know your customer’s customer. What is the right level of due diligence? Stay ahead of emerging trends and regulatory expectations in correspondent relationships. FATF 2014 What implications does FATF’s revised evaluation methodology and the 4th Round of Mutual Evaluations hold for sovereign nations and their financial institutions? How can AML Auditors and Compliance Officers use FATF mutual evaluation reports in their institutions? Hear the latest FATF updates from the February plenary sessions. Corruption and Politically Exposed Persons Enhanced due diligence on PEPs has raised significant implementation issues. Are politically exposed persons always critically significant or has the industry’s approach shifted? What proportionate factors should determine a PEP’s significance and whether a PEP has access to launder corrupt funds? How have multilateral and private sector financial institutions developed sustainable mechanisms to identify corruption and mitigate these risks? Global AML Exchange International banks must keep abreast of ever-changing regulatory requirements in multiple jurisdictions. What are the latest developments on the regulatory front? How do financial regulators in different regions keep their regulations up to date with the latest international standards? What kinds of money laundering activity are these regulators seeing in their jurisdictions? This panel of distinguished global regulators and bankers discusses the latest trends in AML regulations, and sheds light on how institutions can integrate multiple requirements and regulatory expectations to develop an effective enterprise wide AML Program that is both globally consistent and locally compliant. OFAC Enforcement Issues – The Year in Review What’s new in the OFAC Landscape and what might be coming in 2014? Hear from industry experts on the new landscape in OFAC enforcement, expanded coverage of sanctionable activities, Administrative Subpoenas, lessons learned and a host of other sanctions topics related to financial institutions. Stay abreast of OFAC and learn steps you can take to protect your institution from vulnerabilities. Caribbean Central Bankers Roundtable The Caribbean has been characterized as a region of high risk that struggles with money laundering and terrorist financing reform. To many that do business in the Caribbean, this perception is exacerbated by charges of corruption and lack of transparency. Participate in a frank and open discussion with Senior Regional Regulatory leaders, and hear from them the actions that are being put in place to combat the negative stereotype. Also hear about the positive movements regarding legislation and enforcement efforts that positions the Caribbean for healthy business development and investment. The FATF-GAFI 40 recommendations: country impact and liable entities The modifications introduced in the 2012 Revision of the 40 Recommendations are still being studied by the regulators, and will be cause for significant changes in the AML/ CFT legislation. The challenges are significant, including the deepening of the risk based approach, Customer Due Diligence, the inclusion of tax evasion as a predicate offense and the controls that finally will fall on liable entities; all this within the framework of the strong emphasis on efficiency, and with the 4th Round of Evaluations about to begin. Reflections On The Risk Based Approach More than ten years have passed since the US Congress enacted sweeping changes to the financial services industry through the passage and implementation of the anti-money laundering provisions of the USA PATRIOT ACT. What have we learned and what does the future hold? Are regulators looking for a consistent standard of compliance, or is there an unwritten expectation that all must subscribe to the standard of the peer bank that is doing more? Does “peer arbitrage” lead us closer to a zero-tolerance approach? And what are the prospects for business in this environment? This will be a frank exchange of ideas and views between panelists who have worked on different sides of these crucial issues. Mobile, E-Payments & Payment Processors - Are Virtual Currencies Changing the Horizon? As payment methods continue to evolve and the use of virtual currencies gain momentum as a legitimate means of payment, it is increasingly important for AML professionals to understand the nature, risks and opportunities associated with these products. In a sign of the maturing and emergence of the virtual currency market, regulatory guidance has been issued by FinCEN requiring certain entities dealing in virtual currencies to register as MSB’s, and the industry has taken initial steps on the path to the formation of a self regulatory body. Law enforcement have also recorded notable successes: uncovering a $6 billion money laundering operation (Liberty Reserve); and closing down a Bitcoin denominated virtual market place for illegal drugs (Silk Road). Virtual Currencies are increasingly becoming reality for the AML professional.
nnual AML Conference ce Practices and Regulations AML Technology and Effective Investigations – Before and After the Alert Each part of an investigation might later be subject to scrutiny – is every part of your investigation documented, including the up-front planning process? What key tasks can investigators and analysts use to plan and execute investigations, leading to greater protection for the institution and more accurate and complete investigative records. As systems, applications and processes age – what does the future look like for monitoring platforms, data analytics and modeling? Ask The U.S. Regulators and Policy Makers What questions would you like answered by your federal, functional or local regulators? Learn what’s on your supervisors’ radar and pose your questions in this open, collaborative dialogue. Top 10 SAR/STR Issues - The Year in Review An active discussion of the types of suspicious activity being reported to FinCEN, how FinCEN coordinates with FIUs in other countries to analyze SAR and STR data, how law enforcement utilizes SAR information, and the current trends and challenges at financial institutions related to identifying and reporting suspicious activity. You will hear from FinCEN, IRS, and industry practitioners from U.S. and foreign banks who will share unique insights and practical suggestions that will help keep monitoring programs current, assist with SAR analysis, and keep risk management programs up to date and responsive to current issues and trends in both domestic and international banking. Risk Assessments – Enterprise and Customers One size does not fit all institutions - what are the critical components? The evolving role of risk assessments and the anatomy of the risk scoring engine. The panel will discuss the COSO enterprise risk framework and how it applies to AML in organizations of all sizes, very hands-on sound and leading risk assessment practices, tools, and their specifications, including a discussion of “must-have” versus “nice-to-have” and conventional risk-scoring models for individuals and business customers. Balancing The Policing of International Trade Against The Risk of Harm to Innocents – Is Educating The Business Community The Answer? It is well known that there is extensive policing of international trade by multiple federal law enforcement agencies in an effort to combat trade based money laundering. This ever growing law enforcement focus has resulted in numerous seizures of monies and merchandise, the disruption of criminal enterprises, and the arrests and prosecution of various individuals involved. While such law enforcement initiatives are certainly in the public interest, there is also a risk of economic harm to innocent parties who are involved in the underlying trade transaction when those parties are unaware of the related illegal activity. We propose that educating the business community is the joint responsibility of the government, financial institutions and the professional community. After the Fall Out – Rebuilding an AML Program After Regulatory Action What key tasks are critical to repairing and rebuilding a sustainable AML/CFT Program? Building a robust anti money laundering program from the ground up is certainly challenging - imagine rebuilding a program that regulators have deemed weak or non-compliant. The stakes can be extraordinarily high as a failure to properly address deficiencies in a timely manner could spell serious consequences for financial institutions. After an enforcement action, the challenges of obtaining and allocating resources, searching for qualified compliance officers, rebuilding top-notch IT systems, tightening lax controls, remediation efforts and much more must be performed under tight deadlines from watchful regulators and sometimes even a compliance monitor. Keeping regulators, the Board of Directors and senior management apprised of plans and progress as well as simultaneously rolling out a public relations campaign to mute reputational damage, leads to a panoply of tasks that often are not considered, let alone planned for, ahead of time and all of which focus on dealing with the fallout after an enforcement action. AML Auditors Roundtable How have AML auditors’ roles evolved? What are the core components of an effective AML audit scope and the risks of not refreshing the AML audit program? Learn about the key distinctions and challenges in executing AML audits of complex multinational financial institutions and regional financial groups – and what practical tools might enhance your institution’s AML audit program. FATCA – The 2014 Horizon A panel discussion amongst industry experts on what lies on the horizon for financial institutions impacted by FATCA, the “responsible officers” charged with administering FATCA compliance programs, and maintaining an adequate compliance program in light of ongoing developments such as new intergovernmental agreements. Among other things, the panel will discuss the following topics: - Registration of members on expanded affiliated groups - Compliance obligations for 2014 - Recent developments on intergovernmental agreements - How responsible officers are administering their compliance plans - What issues need to be addressed for subsequent compliance deadlines - Challenges and Pitfalls Customer Due Diligence and Beneficial Ownership: Almost Two Years After the Advance Notice of Proposed Rulemaking It has been almost two years since the Advanced Notice of Proposed Rulemaking was published, and over a year since the industry roundtable meetings. Has the Treasury Department changed its thinking? What are the regulators’ current expectations, and what are financial institutions doing to satisfy those expectations? Is the “risk-based” approach to CDD and beneficial ownership still alive? This panel will discuss the impact of any new proposed CDD and beneficial ownership regulations, the regulators’ evolving expectations, and the different approaches that financial institutions have taken to address customer risk and to develop and implement reasonable, risk-based CDD procedures and, for higher risk customers, enhanced due diligence procedures, including with respect to beneficial ownership
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