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| GENERAL SESSIONS: |
Adapting Your AML Practices to Ensure Success Despite Tough Economic Times
Anti-money laundering departments have typically suffered from being viewed as cost-centres and from insufficient resources. In a time when the world economy is suffering, how are AML units affected? How have budget cuts impacted AML efforts at financial institutions? How can you continue to meet compliance benchmarks within a reduced-cost environment? What strategies exist to achieve greater efficiency and maximize your resources? This panel discusses the burden that a tight economy has placed on compliance and share tips on how to maximize your own AML efforts. |
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Analysing Recent Trends in AML/CFT Global Standards to Ensure Your Organisation Remains Compliant
Global organisations, like the Financial Action Task Force and the Wolfsberg Group, focus on addressing current challenges and developing standards in AML/CFT. By following what these groups do and the guidelines they issue, you can gauge where the attention of governments and regulators will fall and ensure that you are paying attention to those areas. In this session, get updated on the latest developments in global standards, and find out what areas you should be focusing and what changes to expect in the next years. |
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Minimising the Money Laundering Risks of Emerging Technologies: Virtual Worlds, e-Currencies and Mobile Payments
Technology has advanced our ability to monitor and identify suspicious activity; however, in the hands of money launderers, it facilitates innovative schemes that expose your institution to illicit activity. New systems offer ease of use, anonymity and little to no regulation, making them attractive to money launderers and terrorists. In this session, learn from top industry experts about the uses and abuses of these products, how they work and what AML measures you should adopt to protect your organisation. |
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Overcoming Remaining Challenges in Implementing the Third EU Money Laundering Directive
Almost one year has passed since the deadline of the Third European Union Money Laundering Directive and more than half EU member states have failed to implement it. What does this mean to financial institutions in the region? What challenges still exist for your organisation? How have the increased regulatory scope, the required risk-based approach and other requirements affected AML regimes? How should you approach doing business in an uneven playing field? Learn the answers to these questions and how to overcome remaining hurdles in the implementation of the directive. |
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| "Overall a high quality AML event. The format was very innovative … Great job done by ACAMS in organizing the conference."
Joel Abrahams, CAMS
Deputy General Manager AML Compliance
Bank Aljazipra
Jeddah, Saudi Arabia |
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Protecting Your Institution from Becoming a Conduit for Corruption and Bribery Proceeds
Corruption and bribery has been at the top of the news this year with countries like Romania and Bulgaria facing criticism and the possibility of sanctions from the European Union. Transparency International, a global corruption watchdog, has also raised concerns about corruption in some European countries. AML professionals must take immediate measures to protect their institutions from unwittingly facilitating the flow of corruption funds. This panel guides you on best practices for due diligence, customer acceptance, monitoring of politically exposed persons (PEPs) and fortifying your defences against processing corruption funds. |
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Mitigating the Risks of International Trade Transactions Through Effective Profiling and Monitoring
Governments and international bodies have increasingly turned their attention to international trade as a conduit for money laundering. In turn, financial institutions are facing more regulatory pressure than ever to scrutinise trade transactions. However, the involvement of multiple parties and complex financing arrangements in trade transactions make this a costly, difficult task. In this session, learn how to identify signs of abuses through trade, what documentation you should be checking when monitoring these transactions and what tools are available to help you in this task and more. |
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Examining the Latest Trends in Terrorist Financing: The Challenges of Detection
Terrorists’ ability to transfer funds around the globe creates a challenge for the financial systems and institutions charged with identifying those transactions. Meaningful indicators and terrorist lists provide little help, making your task even more difficult. In this session, experts take you through the latest trends in terrorist financing, current and future challenges and red flags that can signal terror funding activities. Plus, learn about brand new methods terrorist financiers are using to transfer and conceal their funds and how to avoid missteps. |
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| "Complete, excellent organization and extremely useful."
Paul Hoyer
Senior Lawyer
European Central Bank, Dutch Desk,
Frankfurt, Germany |
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| SEMINARS: |
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Exploiting the Web’s Free Resources to Conduct More Effective AML Investigations
Back by popular demand, this enriching presentation unveils the millions of hidden resources the Web has to offer. The Internet is an inexpensive and underutilised resource that—when used to its full potential–-can maximize your AML due diligence and investigation capabilities. Learn how you can help your institution save substantial time and money by using the “invisible web” and “historical web.” Plus, learn how to optimise your searches, where to find public records, how to conduct research on your customers and much more. |
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Adopting Best Practices to Comply with Economic Sanctions Programs
As the world attempts to eradicate terrorist funding and the movement of drug-derived funds, compliance with worldwide economic sanctions programs has become top priority. Financial institutions face complex challenges and risk stiff penalties for non-compliance. Although the sanction programs often have the same function, their lists and requirements vary widely. In this interactive seminar, learn best practices for effectively managing differing sanctions programs and take away practical advice on how to comply and avoid violations. |
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Successfully Balancing AML Obligations with Data Protection and Client Confidentiality Legislation
Client confidentiality (including bank secrecy) and data protection laws differ among jurisdictions and sometimes conflict with institutions’ equally important AML obligations. Do institutions run the risk of breaching customer privacy when sharing information for AML purposes? What are the consequences of not complying with these missives? How do you balance cooperating with the government while preserving client confidentiality? In this session, expert presenters share answers to these tough questions equip you to comply with data protection and banking secrecy legislation while meeting your AML obligations and keeping your clients content. |
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Knowing Your Customer: Adopting Practical Solutions to Common Challenges
According to a recent FATF report, a solid know-your-customer and customer identification program is a necessary component of any customer due diligence (CDD). However, many challenges arise in the process of getting to know your customer. How do you perform CDD on beneficial owners? What factors need to be considered when evaluating your customers’ risks? How much is enough in getting to know your clients? In this session, experts share their experiences dealing with these challenges and prepare you to overcome them at your institution. |
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| "The most important and complete event I have participated [in], offering me a lot of information, useful for my job; very detailed and very good presented information. "
Anca Simona Popescu
Bancpost
Romania |
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When Suspicions Are Warranted: Going Beyond Suspicious Transaction Reports to Improve Your Reporting Program
Recent enforcement actions leave no doubt about regulators' intent to review and enforce suspicious transaction reporting (STR). However, few compliance professionals have enough experience to effectively evaluate the facts and patterns that are symptomatic of illegal activity. To ensure the success of your program, you must know what comprises “suspicious activity” and when to report it. Must you collect and store potentially incriminating intelligence? What tools do you need for in-depth analysis and reporting? In this session, get first-hand advice and learn how to refine your own STR processes. |
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Gauging the Effectiveness of Your Risk-Based Program to Minimise Your Exposure to Money Laundering
A risk-based approach to compliance is favoured worldwide, but confusion still surrounds its proper implementation. Firms that have taken this approach to their AML processes must ensure that they are doing it right. How do you determine if risks are being measured adequately? How often should you update your risk profile? What strategies can you use to risk-rate your customers, accounts and products? In this session, learn best practices for implementing a risk-based program and hear valuable tips on avoiding common mistakes. |
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| "Very interesting with wide range of subjects to discuss, very interesting speakers and perfect opportunity for networking and discussing compliance issues with peers."
Yeugeniya Balyasna
AML Product Management Officer
ABN Amro |
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| WORKSHOPS: |
Mitigating the AML Risks Posed by Cross-Border Wire Transfers
The processing international wire transfers involves more financial institutions than just the beneficiary and originator of the transfer. The complexity of these transactions can mask the parties involved, creating a monitoring challenge for the banks that process these payments. In this workshop, learn what your obligations are in monitoring wire transfers, what patterns could be indicative of suspicious activity, what information you must include in your payment messages. Walk away from this interactive session with a clear understanding of global expectations and strategies you can use to mitigate the risks of cross-border money movements. |
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Improving Your AML Investigations: Adopting Proven Investigative Techniques
As more institutions appear in headlines or courtrooms for not detecting illicit activity, it becomes exceedingly important that institutions uncover wrongdoing. Good case management and internal investigations can help you root out potential money laundering in your institution before the authorities arrive. In this workshop, perfect your investigative skills and learn how to develop and establish adequate internal investigation processes, what tools exist to aid in your investigations and how to evaluate suspicious patterns and follow their trail to detect if illicit money is flowing through your institution. |
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Optimizing Your AML Transaction Monitoring Processes to Get the Most Value out Your Systems
Transaction monitoring is a key component of suspicious activity detection and reporting, but the automated systems most institutions must rely on are very costly. To justify such high investments, particularly in a time when financial entities are facing increasing cost pressures, you must ensure you get the most value out of your system’s capabilities. In this interactive session, learn how to fine-tune your monitoring system, optimize data quality and create actionable investigative and reporting leads. Plus, get tips on evaluating monitoring systems to ensure maximum return on investment. |
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Designing an Effective Enterprise-Wide AML Training Program
A coherent and relevant AML/CTF training program is not just a regulatory requirement; it is a key pillar for effective money laundering and terrorist financing deterrence and detection. When building a training program, you must know how to tailor it to your organisation’s employees, products and geographical locations. Attend this intimate workshop and learn to design effective, efficient AML training programs based on your institution’s specific risk profile and development needs. |
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Knowing Your Customer: Adopting Practical Solutions to Common Challenges
According to a recent FATF report, a solid know-your-customer and customer identification program is a necessary component of any customer due diligence (CDD). However, many challenges arise in the process of getting to know your customer. How do you perform CDD on beneficial owners? What factors need to be considered when evaluating your customers’ risks? How much is enough in getting to know your clients? In this workshop, discuss real-life CDD scenarios and prepare to overcome them at your institution. |
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| "An excellent event for the AML specialists and beginners. Very focused on the practical problems raised by the UE and US legislation."
Iulia Mariana Enache
Manager AML
ING Bank
Romania |
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| ROUNDTABLES: |
Guarding Your Institution against the Extraterritorial Reach of Foreign Laws and Regulations
The extraterritorial provisions of foreign money laundering laws represent high risks for financial institutions. Understanding their implications and the consequences they could have on your institution’s reputation is critical. In this roundtable, discuss with your peers the challenges posed by the long arm of foreign legislation, such as the United States Patriot Act, and hear lessons learned to avoid becoming the target of penalties or criminal money laundering investigations. |
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Clearing Doubts about Money Laundering Through Trade
A recent FATF report categorized the abuse of the trade system as “one of the main methods” used by criminals and terrorists to disguise and move money. This method is not only common but also complex and difficult to detect. In this roundtable, share the concerns and challenges you have encountered in addressing this complex subject with your peers. Also, get direct answers to your most pressing questions about the basics trade-based money laundering. |
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Current Affairs: Examining the Realities of AML Regimes in Eastern Europe and Their Impact on Your Business
International organisations have recognised that Eastern European countries have made great progress in enacting national AML legislation that meets global standards. However, governments and financial institutions in many Eastern European countries face challenges in implementing these new mandates. In this discussion, learn from your peers about the recent advancements and current issues in Eastern Europe. Plus, learn what you need to know to do business successfully in the region. |
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Analysing the Money Laundering Risks of Hedge Funds and Other Investment Vehicles
The lack of transparency and regulations associated with hedge funds and other investment vehicles like private equity funds make them particularly vulnerable to fraud and money laundering schemes. Fund managers and compliance officers who handle these products are often unaware of the dangers they represent and how to avoid critical missteps. Attend this roundtable to identify emerging challenges faced by the private investment industry and return to your office prepared to perform proper due diligence, beneficial owner identification and ongoing monitoring of these funds. |
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Gatekeepers: Developing Strategies for Successful AML Compliance
The unique services that ‘gatekeepers’ – attorneys, accountants, tax advisors and other intermediaries – provide can serve as a gateway for criminals to access financial markets. The Third European Union Directive added new AML requirements for gatekeepers, including the obligation to report suspicious transactions. How have the new rules impacted your job? Can legal professionals strike a balance between the new requirements and maintaining attorney-client privilege? How have your colleagues adopted the new rules? Share tips and strategies on addressing these issues in this timely and informative discussion. |
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Understanding the Implications of Tax Evasion on Your AML Program
A U.S. Senate panel recently accused two prominent Europeans of helping U.S. persons hide billions of dollars in their banks and evade taxes. This case has had serious repercussions on the way banks conduct business around the world. Do you fully understand the risks your institution faces? How does tax evasion relate to your AML compliance? Should you be looking at offshore accounts more closely? Join this roundtable of experts and peers to discuss the impact of this case on your own AML processes. |
| * Program subject to change |
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