502 Avoiding a Financial Crime: What You Need to Know about Anti-Money Laundering Law
Date & Time
Thursday, October 17, 2019, 1:30 PM - 2:30 PM
Trecia Canty Beth Morgenstern Katy Motiey Amanda DeBusk Lucy Fato
Anti-Money Laundering (AML) regulations challenge financial service companies to prevent the use of banking systems for money laundering. In order to meet these requirements companies put together, effective compliance systems, along with appropriate tools and systems. However, this isn’t done without challenge and those that fail to prevent laundering tend to pay a heavy price in the form of declining revenues, customer dissatisfaction, huge penalties, loss of reputation, and fall in stock prices. To prevent this there are various strategies and new technologies being used to comply with AML regulations. This session will cover: -Review of AML regulations and cross-border differences -Understanding what constitutes as an AML violation and where companies are at risk -Building a skilled team with in-depth AML knowledge -Utilizing technology to manage AML