Anti-Money Laundering and Counter-Terrorism Financing: Practical Guide for Companies to Avoid Pitfalls
Over the past years, the anti-money laundering and combating the financing of terrorism (AML/CFT) landscape has evolved and expanded. As regulators around the world continue their crackdown on banks, the AML/CFT enforcement regime is expected to intensify.
Recently, the Financial Crimes Enforcement Network (FinCEN) issued its updated Financial Action Task Force (FATF) list of jurisdictions with AML/CFT deficiencies. The changes made are expected to profoundly affect the risk-based due diligence of U.S. financial institutions. With this, and other significant developments, it becomes more essential for companies to keep up with the evolving regulatory paradigm. Proactive steps must be taken to mitigate exposure to financial crime risks.
Join a panel of thought leaders and professionals as they provide the audience with an in-depth discussion of the latest trends and developments in AML/CFT enforcement. Speakers, among other things, will discuss the best compliance practices that can help your clients cope with the changing legal climate.
Key issues covered in this course are:
- AML/CFT Enforcement: Latest Trends and Developments
- FinCEN's 2019 Priorities
- Identifying and Addressing Red Flags
- Best Compliance Practices
- What Lies Ahead
Susrut A. Carpenter, Attorney
- Overview of the US AML/CFT Regime
- AML regulatory reform goals
- Overlap between FCPA and AML
- FBI specialized units – formation of new units
- Legal tools in AML Compliance
- Proposed changes to the Bank Secrecy Act (including information sharing)
- Corporate Transparency Act of 2019
Alexandra Bartlett, Manager
- Cayman Islands Regulatory Update
- Key themes from the Caribbean Financial Action Task Force ("CFATF") 4th round Mutual Evaluation Report into AML/CFT measures in the Cayman Islands
- Components of an effective framework required to avoid some of the common AML/CFT pitfalls, including the adoption of a risk based approach and performing risk assessments.
- This speaking point is very wide and there are obviously many more components to an effective framework.
- However the adoption of an RBA and the undertaking of EWRAs is exceptionally topical in Cayman at the moment and one that has caused the most concern for our client so I will be focusing on this area and interweaving other components including training and resourcing, the importance of have proper governance arrangements in place etc. in as I go.
Dennis Miralis, Partner
Nyman Gibson Miralis
- AML trends and developments in the APAC region
- Recent money laundering typologies published by the APG covering the APAC region
- Examples of high profile enforcement and regulatory action for breaches of AML in the financial sectors
- Use of asset freezing/ confiscation powers to combat illicit funds being laundered in the real estate sector
- AML compliance and KYC information requirements for digital currency exchanges
- Delays in implementation of AML coverage of gatekeepers including lawyers, accountants and real estate agencies and the vulnerabilities that exist in those sectors in APAC region
Who Should Attend:
- Banking and Financial Institutions
- AML/BSA Lawyers
- BSA/AML Officers and Managers
- AML Investigators
- AML Compliance Officers
- Banking and Finance Lawyers
- Auditors and Accountants
- Chief Financial Officers
- Finance Executives
- Risk Mitigation Officers
- Other Interested/Related Professionals
Alexandra Bartlett is Manager in the Deloitte Cayman Islands Financial Advisory practice where she advises clients in, amongst others, regulatory compliance related matters in the financial services industry. Alexandra has experience conducting AML and other regulatory compliance reviews and remediation engagements.
Alexandra has over eight years of experience across audit, compliance, and restructuring and insolvency predominantly within the financial services industry for small, midsize, and global financial institutions domiciled in the Caribbean, Australia and South Africa.
Alexandra holds the Chartered account, Certified Anti-Money Laundering Specialist, and Certified Financial Crime Specialist designations and is a member of the Cayman Islands Institute of Professional Accountants, the South African Institute of Chartered Accountants, the Association of Certified Anti-Money Laundering Specialists, and the Association for Certified Financial Crime Specialists.
Alexandra Bartlett is Manager in the Deloitte Cayman Islands Financial Advisory practice where she advises clients in, amongst others, regulatory …
Dennis Miralis is a leading Australian defence lawyer who acts and advises in complex domestic and international criminal law matters in the following areas: international money laundering; white-collar and corporate crime; serious fraud; cybercrime; international asset forfeiture; international proceeds of crime law; bribery and corruption law; transnational crime law; extradition law; mutual assistance in criminal law matters; anti-terrorism law; national security law; criminal intelligence law; and encryption law.
He appears in all courts throughout Australia and regularly travels outside of Australia for complex international / transnational criminal law matters.
Dennis Miralis is a leading Australian defence lawyer who acts and advises in complex domestic and international criminal law matters …
A former prosecutor, Sonny Carpenter is a member of BakerHostetler’s National White Collar, Investigations, and Securities Enforcement and Litigation team. He has tried complex jury trials and led investigations with the Departments of Justice and Homeland Security, FBI, and other government agencies, applying that experience in aid of corporate and individual clients. Sonny regularly represents clients in highly-sensitive federal, state, and internal corporate investigations; securities enforcement litigation; and confidential crisis situations involving government inquiries like subpoenas and corporate search warrant executions. Specifically, Sonny specializes in Bank Secrecy/AML matters, fraud investigations, FCPA/anti-corruption compliance, and SEC enforcement, and importantly, he helps clients avoid risk by developing and strengthening their compliance programs
A former prosecutor, Sonny Carpenter is a member of BakerHostetler’s National White Collar, Investigations, and Securities Enforcement and Litigation team. He has …
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Method Of Presentation:
General knowledge of banking and finance laws
NY Category of CLE Credit:
Areas of Professional Practice
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About Nyman Gibson Miralis
Nyman Gibson Miralis (NGM) is an international award-winning criminal defence law firm based in Sydney, Australia. For over 50 years it has been leading the market in all aspects of general, complex and international crime, and is widely recognised for its involvement in some of Australia’s most significant criminal cases.
NGM’s international criminal law practice focuses on international money laundering, white-collar and corporate crime, transnational financial crime, bribery and corruption, cybercrime, international asset freezing or forfeiture, extradition and mutual assistance law.
Working with international partners, NGM has advised and acted in investigations involving the USA, Canada, the UK, the EU, China, Hong Kong, Singapore, Taiwan, Macao, Vietnam, Cambodia, Russia, Mexico, South Korea, British Virgin Islands, New Zealand and South Africa.
Recognized as one of the top firms for client service, BakerHostetler is a leading national law firm that helps clients around the world to address their most complex and critical business and regulatory issues. With five core national practice groups – Business, Employment, Intellectual Property, Litigation and Tax – the firm has more than 960 lawyers located in 14 offices coast to coast. BakerHostetler is widely regarded as having one of the country’s top 10 tax practices, a nationally recognized litigation practice, an award-winning data privacy practice and an industry-leading business practice. Visit bakerlaw.com