14th Annual FIBA AML Compliance Conference – February 20-21, 2014 – Miami



Does your financial institution have a well-defined culture of compliance?

What does that even mean in terms of policies and procedures, controls, audit, hiring and training?
These are questions compliance personnel should consider in the current enforcement environment. Financial institutions are being subjected to heightened scrutiny as a result of the worst economic crisis that the world has suffered since the Great Depression:
  • J.P. Morgan Chase Bank recently agreed to pay a record-setting $2 billion to U.S. government agencies over claims that AML deficiencies caused the bank to fail to report suspicious activity involving longtime customer Bernard Madoff.
  • British banking giant HSBC agreed to a $1.9 billion settlement over AML matters.
  • TD Bank agreed to a total of $ 90 million in penalties related to Ponzi schemes by Florida attorney Scott Rothstein.

But how does a bank with a well-defined culture of compliance ensure that its employees are well trained to spot red flags and report any suspicions?

And how should those suspicions be escalated, documented and acted upon?

Does putting into place an enterprise-wide compliance structure necessarily equal a culture of compliance?

For banks that are serious about meeting their anti-money laundering requirements, these are questions that must be considered, and FIBA can help.

The upcoming 14th Annual FIBA AML Conference in Miami will offer sessions where compliance personnel can learn about the elements of a culture of compliance and put that information to work at their institutions.

With top industry experts and regulators on-hand to discuss trends and best practices, conference attendees have an opportunity to learn and network and prepare to protect their institutions.

Topics include:

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. 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.

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?

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 grown 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?

And much more…

For more details see : http://www.antimoneylaundering-fiba.com/pages/Agenda/