Conference Program - Monday, September 20

The Foreign Account Tax Compliance Act: Understanding its Requirements for your Compliance Program

With the passage of the Hiring Incentives to Restore Employment (HIRE) Act in early 2010, the Foreign Account Tax Compliance Act (FATCA) was also passed. As the implications of FATCA begin to unfold within the financial community, how will the additional disclosure requirements affect your organization? What information must now be captured and reported? Which foreign entities are covered by it, and which individuals must you report on?  How should your AML program be adjusted—if at all?  Join this interactive session to understand the impact on financial organizations and compliance professionals alike.

Moderator
David Chenkin, Esq., Partner, Zeichner Ellman & Krause

Mark E. Matthews, Esq., Partner, Morgan, Lewis & Bockius

Tackling Internet Transactions: A Growing Threat to Financial Institutions

The Internet has become one of the most widely used tools to move illicit monies across borders—it provides a convenient vehicle for disguising identity and evading jurisdictional regulations. Staying current with the latest methods of web-based money movements will keep you a step ahead of cyber abuse and ensure you have controls in place to prevent facilitating criminal activities. Hear a panel of experts explain how to avoid falling victim to Internet-based transactions such as virtual worlds, digital currency, online gambling and electronic payments.  Learn how to indentify red flags and optimize your current electronic activity monitoring to prevent abuse.

Thomas E. Nollner, Resident Advisor, Office of Technical Assistance, US Treasury

William Voorhees, CAMS, C.F.E., BSA/AML & e-Fraud Investigation Division Manager, OFAC Officer, SVB Financial Group

Privacy and Information Sharing: Regulatory Interpretations and Updates

Criminals regularly use multiple institutions in their attempt to mask their activities and rely on this layering process to successfully avoid detection. The sharing of information between financial institutions, regulators, and investigators is critical to uncovering money laundering schemes and other fraudulent activities. Are you up-to-date with your requirements if you are asked to share a client’s private information? This privacy and information sharing discussion group is designed to openly discuss interpretations and requirements of section 314 of the USA PATRIOT Act. Walk away with a clear understanding of what the law asks of you and your organization, and understand industry best practices for answering information requests.

Brian L. Mannion, Lead Counsel, Office of the Chief Legal and Governance Officer, Nationwide Mutual Insurance Company

Jeffrey Sklar, CAMS, Managing Director, SHC Consulting Group

Taking AML Audits from Findings to Action

Your AML audit is complete; what is your next step? The completion of the audit testing phase is not the end--but the beginning--of a series of changes and improvements in order to meet program requirements. Join this group discussion to learn how to use your audit findings to improve and strengthen your current AML program. Discover how to create an action plan following the end of the audit, and where to obtain guidance on ranking the findings and classifying their severity. You will be able to provide your own experiences, and learn from others’ to create an effective and executable roadmap to remedy the gaps within your processes and how to adequately document your follow up activities and results, in order to properly conclude the post testing part of the audit.

Peter Neilson, CAMS, Vice President, Anti-Money Laundering Compliance, Capital One Bank

John H. Atkinson, Director, Protiviti

Credit Unions and Community Banks: Optimizing Your AML Department to Meet Emerging Challenges

The inherit benefits associated with the smaller nature of credit unions and community/regional banks attracts many clients from larger institutions. As smaller banks and credit unions begin to provide more extensive banking services to a broader population, the influx of new clientele often includes money launderers looking for an unwitting vehicle for their next scheme. As the National Credit Union Administration and other regulating bodies continue to scrutinize smaller organizations, new strategies must be developed to meet those obligations and block illegal funds from entering the legitimate financial system. Join this discussion group of your peers to discuss emerging challenges that are specific to your industry and learn what tools are available to improve your AML program and create a robust anti-crime regime.

Elizabeth A. Slim, CAMS, Senior Vice President, Director of Operations, Grandpoint Bank

Emily J. Borowski.CAMS, Assistant Vice President - Risk & Compliance, Notre Dame Federal Credit Union

Leveraging Customer Due Diligence to Determine Beneficial

Performing customer due diligence to identify beneficial ownership is a key component of AML programs within every organization. With the increasing complexity of global financial accounts and transactions, and the varying requirements within multi-jurisdictional structures, it has become increasingly difficult to correctly identify the beneficial owner of a legitimate entity, let alone that of a fraudulent one. This session is designed to provide actual guidance on the due diligence procedures, documentation requirements and unique monitoring practices needed to identify beneficial ownership of international transactions. Join this moderated discussion and benefit from the real-world experiences of your peers in identifying beneficial ownership in a modern global environment.

Peter Neilson, CAMS, Vice President, Anti-Money Laundering Compliance, Capital One Bank