ACAMS 6th Annual International Money Laundering Conference & Exhibition

“Topics covered in the roundtables and workshops were timely to current events and knowledge of speaker was outstanding. I walked away gaining new knowledge.” Elizabeth Slim, CAMS Community Bank Deciphering the ABC’s of Sanctions List Many officials believe the best defense against terrorist financing is government watch lists. Many countries and organizations have them, including the United Nations, the European Union, the Bank of England and Canada. The Office of Foreign Assets Control (OFAC) in the U.S. has multiple lists that institutions must screen new customers and transactions against. This can create a complex and confusing situation, especially for multinational organizations. However, penalties such as the $60 million ruling against ABN Amro have proven this compliance area cannot be ignored. Here, discuss best practices for staying on top of government watch lists, and tips for screening to guard against problems such as false positives. Compliance Excellence in the Securities Industry According to the U.S. National Association of Securities Dealers (NASD), enforcement actions surged 59 percent, to 71 actions in 2006 from 42 actions in the previous year. Those rulings centered on deficiencies in customer identification, independent testing, and failing to report structured transactions. With statistics like these, securities firms are scrambling to correct the deficiencies in their AML compliance programs before they are at the receiving end of an enforcement action. At this roundtable, confer with others who are feeling the same pressures to perfect their AML programs and trade best practices to help meet more stringent regulatory requirements. MSBs: Defining Responsibilities of the Parent Company and Agents This roundtable will explore the regulatory roles and responsibilities for both the principle and MSB agent. Understand who is ultimately accountable for AML compliance duties, such as reportable transactions, filing SARs, training, and documenting agent policies. Learn how to better protect yourself from other risky activities that agents perform, like aggregated transactions and what to do if your agents are working for other vendors. Also, gain insight from your peers on a money remitter’s role in providing services. “Everything was great! The sessions applied to every type of business represented.” Cynthia Richter, CAMS Comerica Bank Improve Your AML Track Record with Quality Assurance Good training is one of the essential elements of the four-pronged AML program, which is mandatory for financial institutions in most jurisdictions. Yet how do you assure the quality of the training to your senior management, regulators, and to other financial institutions that may require proof to maintain a relationship? Two possible solutions to this dilemma are testing and documentation. But which is right for your institution, and how do you implement them correctly? Compare notes with other AML specialists at this roundtable on what quality assurance methods will prove to regulators that your employees are properly trained. Protect Against Information Technology Risks Through Better Training As the services offered by financial institution’s move towards those that are more technologically based, their dependence on IT staff grows. In the past, many organizations didn’t give much thought to providing AML training for technology staff. However, in today’s everchanging regulatory climate, it makes good compliance sense for a bank to protect itself from the possible regulatory risks associated with these employees. But where does IT fit into your compliance program and how much does IT have to be trained? Determine the answers to these questions and more at this thought-provoking and timely roundtable session. “Everything was great! The sessions seemed to apply to every type of business represented. Everyone was pleasant.” Cynthia Richter, CAMS Comerica Bank 4. Fax +1.305.373.7788 or +1.305.373.5229 5. Mail ACAMS, Brickell Bayview Center, 80 Southwest 8th Street, Suite 2350, Miami, FL 33130, USA 1

Table of Contents Feed for the Digital Edition of ACAMS 6th Annual International Money Laundering Conference & Exhibition

About Us Speaker Bios General Sessions Conference Overview Workshops Seminars Roundtables Sponsors & Exhibitors Frequently Asked Questions Registration

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