Wed, 03/27/2024 - 10:55am-11:45am

According to a FATF publication, de-risking is “the phenomenon of financial institutions terminating or restricting business relationships with clients or categories of clients to avoid, rather than manage, risk … De-banking, or the loss of any financial services, may or may not be de-risking depending on the reasons for it.” Our panel will discuss the issue from the point of view of both regulators and market participants and  address the de-risking of individual customers as well as de-risking of certain categories of business.

You will learn how to:
 

  • Evaluate when — and whether — de-banking and de-risking can be justified

  • Apply FATF’s risk-based approach to de-risking to avoid the unintended consequences of financial exclusion and “jurisdiction shopping”

  • Assess the controls in place at potential client institutions to help decide whether they are “bankable”


Moderator:
Uldis Upenieks, Co-chair, ACAMS Baltic Chapter

Presenters:
Ramunė Abazorienė, Head of AML/CFT/CFP and Sanctions Compliance Department, Luminor Bank AS

Antonia Adams, Senior Vice President, Head of Financial Crime Risk Management, Danske Bank

Laima Letiņa, CAMS, CGSS, Advisor, Finance Latvia Association