Effective Anti-Money Laundering (AML) Compliance Programs: Mitigating Your Firm’s Violation Risks in 2016
Reporting by financial organizations, mandated by the Bank Secrecy Act (BSA), plays a crucial role in combating terrorist financing and money laundering. By now, we all know the four pillars of a BSA/AML program. The “what” and “why” are nothing new but looking to 2016, AML professionals will need to balance the expectations of the regulators while constantly reevaluating the “how.” The surge in enforcement actions sends a clear message that there is a huge gap between what regulators consider to be sound AML and CFT risk management and what the current situation for most financial institutions is. The gaps in AML programs along with sophisticated emerging trends in financial crimes suggest that traditional methodologies and technologies have fallen short of the stated goals.
Financial institutions must be willing to move beyond traditional AML programs and technology if they wish to effectively manage risk across the enterprise, protect the organization’s reputation and satisfy the regulators.
In this two-hour, LIVE Webcast, distinguished professionals and thought leaders assembled by The Knowledge Group will discuss how certain trends are shaping the AML landscape and how the role of technology is becoming a game-changer for more effective AML programs. Speakers will present their thoughts on next generation AML. Topics include:
- An Enterprise View of Risk
- REPs (Reputationally Exposed Persons found in Adverse Media)
- Day 1 vs. Day 2
- FinCEN 314b and information sharing
- Effective AML Models: Risk/Principles-based vs. Rules-based
- Model Validation
- Leveraging the next generation of technology
- Introducing Intelligence to the AML/CFT Environment
- Data analytics
- Link Analysis
- Risk scoring
- Outsourced solutions
Safe Banking Systems LLC
Zeichner Ellman & Krause LLP
- Recent Enforcement Actions
- 2016 Enforcement Trends
- An Enterprise View of Risk
- Bridging a Widening Gap
- The Changing Tide
- Understanding What’s Behind the Curtain
- Next Generation Programs and Technology
- Summary / Moving Forward
Who Should Attend:
- Banking Lawyers & Consultants
- Banking & Financial Institution Auditors
- Money Service Businesses
- Risk Management Officers
- Money Laundering Reporting Officers
- AML/BSA Compliance Officer
- Thrifts & Credit Unions
- Fraud Monitoring Officers
- Other related/interested Professionals and Organizations
David Schiffer is the founder, CEO and president of Safe Banking Systems (SBS), a technology enabled company headquartered in Mineola, New York. For more than fifteen years, Mr. Schiffer has directed his company’s efforts to combat money laundering, terrorist financing, fraud and other criminal activity by providing anti-money laundering and compliance solutions to the financial services industry and other corporations. Awarded Best-in-Class Watch List Filtering Solution in 2015 by Aite Group, SBS offers the latest technology for entity resolution to fight financial crime and find the “bad guys.”
David Schiffer believes that the role of SBS is that of a trusted advisor, not only to provide innovative solutions to clients but to also share practical knowledge and experience. He has met with the Chief Counsels and their investigative teams at both the US Senate Commerce Committee and US House Committee on Homeland Security, has been interviewed by the media and is a frequent sponsor and speaker at Association of Certified Anti-Money Laundering Specialist (ACAMS) conferences and knowledge events.
Prior to founding SBS, Mr. Schiffer led other technology companies and also taught in the New York City school system. A native New Yorker, Mr. Schiffer received his M.S. in Computer Science from SUNY Stony Brook, his M. A. in Mathematics from Hunter College, NY and his undergraduate degree, a B.S. in Mathematics also from SUNY Stony Brook, NY.
David Schiffer is the founder, CEO and president of Safe Banking Systems (SBS), a technology enabled company headquartered in Mineola, …
David B. Chenkin is the managing partner of law firm Zeichner Ellman & Krause LLP (ZEK) and a Certified Anti-Money Laundering Specialist. As a litigator, Chenkin represents major financial institutions and individuals in civil, criminal, regulatory and compliance-related matters. He heads the firm’s anti-money laundering and Bank Secrecy Act compliance practice area, and represents clients in complex government investigations initiated by Congress and by federal, state and local prosecutors and regulators.
Chenkin has devoted substantial attention to representing clients in many of the major financial investigations conducted by the United States Senate Permanent Subcommittee on Investigations. He also handles confidential internal investigations for clients facing potential civil, criminal and regulatory exposure, and provides training to law enforcement and the private sector.
David B. Chenkin is the managing partner of law firm Zeichner Ellman & Krause LLP (ZEK) and a Certified Anti-Money …
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Specialized Knowledge and Applications
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About Safe Banking Systems LLC
For more than 15 years, Safe Banking Systems, a technology enabled company has been thinking ahead of the risks to combat financial crime and find the “bad guys.” SBS’ principles-based solution for KYC, CDD and EDD helps institutions manage enterprise-wide risk in a dynamic, data driven environment. SAFE Advanced Solutions®, SBS’ award winning flagship offering combines a patented risk ranking methodology with a probability scoring model that brings actionable AML intelligence for entity resolution to clients worldwide.
About Zeichner Ellman & Krause LLP
Zeichner Ellman & Krause LLP is a law firm founded nearly a generation ago on principles revolutionary then, which have today become aspirational for law firm clients. We are a sophisticated full service financial services/business law firm built upon the three firm pillars: substantial expertise, client centric service, and price advantaged, flexible charges.
ZEK, founded in 1980, offers its services in all aspects of commercial legal representation. The Firm specializes in representing clients in domestic and international banking and finance, litigation and arbitration, general commercial and corporate law, real estate, securities, regulatory matters, trusts and estates, insurance, creditors’ rights and bankruptcy matters.