Fraud and Anti-Money Laundering in 2020: Practical Guide to Mitigate Risks and Avoid Pitfalls
Over the past years, enforcement of fraud and anti-money laundering (AML) has become more complex and critical. New regulations, heightened scrutiny, and intensified sanctions are expected to address the increasing number of fraud and AML threats. Thus, posing an array of compliance challenges.
With the increasing demand to keep up with the evolving regulatory landscape, it becomes essential that companies and practitioners are updated with the emerging trends and developments in fraud and AML. They must revisit their existing practices and action plans to ensure compliance and avoid legal risks.
In this LIVE Webcast, a panel of thought leaders and professionals will provide the audience with an in-depth discussion of the emerging trends and developments in fraud and anti-money laundering. Speakers will present risk mitigation techniques and best compliance strategies to help practitioners in this evolving legal climate.
Key issues that will be covered in this course are:
- Fraud and AML: Regulatory Trends and Developments
- Notable Cases and Issues
- Red Flags
- Risk Mitigation Techniques
- Compliance Tips and Strategies
- What Lies Ahead
Allison Spagnolo, Managing Director
Guidepost Solutions LLC
- The relative anonymity and lack of transparency of cryptocurrencies creates increased AML risk. Organizations must be agile in understanding how that technology is regulated, as well as how to implement measures to comply with regulatory schemes.
- Recent U.S. BSA/AML enforcement actions indicate that U.S. regulators will continue to be aggressive in penalizing organizations with inadequate AML compliance programs.
- Punitive measures for AML non-compliance are now extending to Chief Compliance Officers personally. An effective AML compliance program is more important than ever.
Robert M. Appleton, Shareholder/Partner
Murphy & McGonigle
- The Most Significant Emerging ML and Fraud Risks in the Global Context (study of some recent global enforcement actions and what it tells us -- ex. Latin America – Brazil and Mexico)
- The New Era of Mega Multi-lateral Fraud/ML/Corruption Enforcement (international cooperation amongst authorities and their recent focus - what it tells us on where to focus compliance resources)
- Avoiding Pitfalls: A Focus on The Eurasia/Nordic Russian Billionaire Bank Enforcement Cases in 2019 (how complex and well-funded compliance programs completely missed the schemes and how the institutions and companies paid hundreds of millions in fines that could have been avoided/mitigated, despite spending huge sums of resources on compliance and having well-resourced compliance departments)
- Compliance Best Practices (how to mitigate AML and fraud risks in the most efficient manner, what deficiencies are the most costly in AML and Fraud enforcement actions)
- AML and FRAUD Fines and Penalties (where enforcement authorities are focused, and how to address the risks)
Who Should Attend:
- Banking and Financial Institutions
- AML/BSA Lawyers
- BSA/AML Officers and Managers
- Banking and Finance Lawyers
- Auditors and Accountants
- Chief Financial Officers
- Anti-Money Laundering Officers
- AML Compliance Officers
- Risk Mitigation Officers
- Fraud Monitoring Officers
- AML investigators
- Other Interested Professionals
Allison Spagnolo is a managing director at Guidepost Solutions LLC. She works on various compliance engagements for financial institutions to review AML and sanctions issues and conduct on-site inspections and reviews for monitorships and other compliance matters. She worked with an international European bank to ensure it has a robust sanctions and AML compliance program and provided extensive advice and recommendations regarding these matters, as well as the organization and governance of its compliance function and KYC program and processes. Ms. Spagnolo has experience revising policies and procedures to fully comply with relevant laws and regulations; conducting testing to identify potential vulnerabilities; and creating and implementing appropriate action plans and remediation efforts. Her background includes developing risk reviews and assessments for public and private entities.
Allison Spagnolo is a managing director at Guidepost Solutions LLC. She works on various compliance engagements for financial institutions to …
Robert Appleton is a globally recognized anti-corruption and Foreign Corrupt Practices Act expert and one of the foremost FCPA and AML practitioners in the world. A former U.S. Department of Justice and United Nations prosecutor, he has led, supervised or managed more than 1000 corruption and compliance cases in over 150 countries in his more than 25-year career.
Mr. Appleton has spent significant time in Europe, Eurasia, Sweden focusing on the AML cases that have been brought, and also having a role in two of them. These involve Russian oligarchs utilizing large international banks to facilitate money laundering. A number of cases have been brought, and banks and other financial institutions as well as businesses continue to have compliance failures, after having spent a fortune on compliance.
Robert Appleton is a globally recognized anti-corruption and Foreign Corrupt Practices Act expert and one of the foremost FCPA and …
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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 Guidepost Solutions LLC
In a world where change is certain, experience is the best protection. Guidepost Solutions offers global investigations, compliance and monitoring, and security and technology consulting solutions in a wide range of industries. Our expert team provides leadership and strategic guidance to address critical client needs across the globe. With headquarters in New York, Guidepost Solutions maintains offices in key markets including Bogotá; Boston; Chicago; Dallas; Honolulu; London; Los Angeles; Miami; Oakland; Palm Beach; Phoenix; Sacramento; San Francisco; Seattle; Singapore; and Washington, D.C.; and has resources across the globe. Experience guides us. Solutions define us. For more information, please visit www.guidepostsolutions.com.
About Murphy & McGonigle
For the seventh year in a row, U.S. News & World Report and Best Lawyers® selected Murphy & McGonigle as a National Tier 1 Law Firm. This year, Murphy & McGonigle was honored in Securities Regulation, Litigation — Securities, and Corporate Law. Only 25 firms received National Tier 1 recognition in all three areas. The firm boasts several attorneys who have received “Chambers” and “Best Lawyers in America” recognition. Recently, the firm has significantly strengthened its White Collar and Government Investigations Practice Group, with the recent addition of Robert Appleton, one of the foremost international anti- corruption/white collar investigations lawyers and compliance practitioners in the world.
Murphy & McGonigle serves the litigation, enforcement defense, and regulatory counseling needs of clients across the full spectrum of the financial services industry – from national banks, broker-dealers, investment advisers, and hedge funds, to national and international securities markets and exchanges. Many of the firm’s partners formerly served in senior positions at the US Department of Justice, SEC, FINRA, CFTC, and the New York State Department of Financial Services, and several served in senior executive positions in major financial institutions on Wall Street. The firm operates in New York, Washington, DC and Richmond, VA.