Detailing Best AML Practices for Preventing Elder Financial Exploitation

  • When: March 28, 2018
  • Time: 12:00 PM – 2:00 PM ET
  • Levels: All

Each year, older adults and vulnerable people of all ages lose more than $3 billion to exploitation, with financial institutions losing $1 billion in deposit fraud. Adults over 50 years old control more than 70 percent of the United States’ wealth, which is why this group remains a popular target for criminals using new tactics to abuse and financially exploit retiring baby boomers and the growing number of older and vulnerable adults. Join our panelists as they review typologies, warning signs and reporting barriers; analyze recent case studies and detail legal remedies to address exploitation.

Learning Objectives

  • Reviewing current policies, procedures and training to ensure they identify and report transactions tied to crimes against older and vulnerable adults
  • Analyzing typologies and red flags including transactions that are inconsistent for older adults or uncharacteristic attempts to wire large sums of money
  • Ensuring proper handling of client finances through effective due diligence, monitoring, early detection and reporting on designated fiduciaries
  • Establishing relationships with law enforcement to investigate alerts and gain insights into financial exploitation trends

Who Should Attend

  • Relationship Managers
  • Onboarding Officers
  • Internal Investigations Personnel

Region/Industry

  • Global
  • North America
  • Bank
  • Securities

Pricing

ACAMS Members Non-Members
$245 $445
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Moderator

Michael Schidlow
  • Michael S. Schidlow, CAMS-Audit

  • Senior Vice President, Head of FCC and Emerging Risk Audit Development
  • HSBC Bank

Bio

Michael Schidlow currently serves as the Head of Financial Crime Risk Training for HSBC Bank’s Global Internal Audit Function. In this role, Schidlow designs and delivers bespoke training courses on anti-money laundering (AML), terrorist financing, anti-bribery/corruption (ABC), and anti-financial crime best practices across the company’s global footprint. Schidlow also leads the function’s Emerging Risk Advisory for North America, Latin America, and for the Global Financial Crime Risk teams. He consults on audit planning and audit scoping based on regulatory issues, enforcement actions, and external environment monitoring.

Schidlow previously served as an investigator for Bank of America’s Global Financial Crimes Compliance division, specializing in high-profile client compromises, complex fraud, and insider abuse allegations. Schidlow started his career working as an attorney concentrating on regulatory compliance and white collar litigation matters. Schidlow holds the Certified Fraud Examiner (CFE), Certified Anti-Money Laundering Specialist (CAMS), ACAMS Advanced Certification in AML Audit (CAMS-Audit), and is a licensed attorney.

Speakers

Christopher Donohue
  • Christopher Donohue

  • BSA and Security Officer
  • Northfield Bank

Liz Loewy
  • Elizabeth Loewy

  • Co-founder and Chief Operating Officer
  • EverSafe