CONFERENCE PROGRAM

General Sessions

Of vital importance to the entire AML community, these critical updates bring you up to speed on the impact of new legislation, analyze lessons learned from the latest enforcement actions, provide exclusive insight into emerging criminal schemes and demonstrate global best practices you’ll immediately apply to your own AML program.

KEYNOTE ADDRESS:
OFAC Initiatives, Trends and Developments
Adam J. Szubin, Director, Office of Foreign Assets Control, U.S. Treasury Department

KEYNOTE ADDRESS:
Special Enforcement Update
Adam Kaufmann, Assistant District Attorney and the Chief of Investigations Division Central, New York County District Attorney’s Office

PANEL DISCUSSION:
Examining the Global State of AML: An Update on Regulatory Oversight and Standards
With the economic crisis came a flurry of legislative proposals and guidance from governments and global organizations. The Financial Action Task Force is examining the impact of the crisis on AML/CFT efforts and is considering revisions to some of its recommendations. In the U.S., the Obama administration has proposed changes in regulatory oversight as well as bills that could affect your compliance obligations. In this session, a panel of experts briefs you on the latest global regulatory trends so that you and your organization can prepare for potential new obligations.

Introduction: Kieran Beer, Editor-in-Chief, MoneyLaundering.com and Compliance Advantage.com
Moderator: John J. Byrne, CAMS, Executive Vice President, Association of Certified Anti Money Laundering Specialists (ACAMS)
Speakers:
William Fox, SVP, Global AML and Economic Sanctions Executive, Bank of America
Richard A. Small, Vice President, Enterprise Wide Anti-Money Laundering and Sanctions Risk Management, American Express
Suzanne Williams, Manager, BSA/AML Risk Section, Division of Banking Supervision and Regulation, Board of Governors of the Federal Reserve System
John Wagner, Director, Bank Secrecy Act/Anti-Money Laundering Compliance, Office of the Comptroller of the Currency

PANEL DISCUSSION:
Analyzing the Global Implications of Increased Tax Enforcement
The worldwide outcry against secret accounts at UBS and LGT Bank has brought heightened attention to the role of offshore banks in helping individuals hide assets and dodge taxes. It also triggered a number of initiatives including an updating of the OECD list of uncooperative tax havens, new efforts by the G20 to reduce the role of tax havens in facilitating tax avoidance, and the introduction of legislation in the United States to require foreign financial entities to share data about their U.S. client accounts. Legislation passed the US Senate earlier this year to make tax evasion a predicate crime for money laundering, and the Financial Action Task Force is reportedly considering whether to take the same step. In this session, get updated on the latest advances in tax enforcement, learn how tax haven concerns may affect AML concerns, and find out how new legislation could impact your obligations.

Moderator: Kieran Beer, Editor-in-Chief, MoneyLaundering.com and Compliance Advantage.com
Speakers:
Jack Blum, Chairman, Tax Justice Network USA
Heather A. Lowe, Legal Counsel & Director of Government Affairs, Global Financial Integrity
Linda Osuna, Special Agent in Charge, IRS - Tampa Field Office
Laura Stuber, Counsel, U.S. Senate Permanent Subcommittee on Investigations

PANEL DISCUSSION:
Effective AML Strategies for the Next Phase of the Age of Electronic Finance
Electronic payment systems, including stored value cards and mobile phone payments, are just two uncharted threats financial institutions face. Join this panel of industry and law enforcement experts as they examine the products and techniques that can be used to defraud your institution or facilitate money laundering and terrorist financing. Plus, take away tips to monitor for illicit activity and minimize your exposure to abuse.

Introduction: William Fox, SVP, Global Anti-Money Laundering and Economic Sanctions Executive, Bank of America
Moderator: David Chenkin, Partner, Zeichner Ellman & Krause LLP
Speakers:
Dennis Lormel, President, DML Associates, LLC
Richard A. Small, Vice President, Enterprise Wide Anti-Money Laundering and Sanctions Risk Management, American Express
Carol R. Van Cleef, Partner, Patton Boggs

PANEL DISCUSSION:
Developing and Maintaining an Effective PEP Management Program
Defining which customers fall into the definition of Politically Exposed Persons (PEPs) poses a constant challenge to compliance executives around the world. While international bodies like FATF offer definitions, it’s often difficult to interpret and execute this guidance in real-world scenarios. What are the best practices for screening for PEPs and verifying the source of their funds? How can you avoid expending unnecessary resources on screening for the wrong individuals? Hear from a panel of PEP experts what your organization can do to streamline the screening process and learn how international organizations are successfully mitigating their exposure to this risk.

Introduction: William Fox, SVP, Global Anti-Money Laundering and Economic Sanctions Executive, Bank of America
Moderator: Barry Koch, CAMS, Managing Director and Associate General Counsel, JPMorgan Chase
Speakers:
Jack Blum, Chairman, Tax Justice Network USA
Ted Greenberg, Principal, Greenberg Global and Former Senior Financial Specialist, Financial Market Integrity Unit, World Bank
Meg R. Zucker, Executive Director, Global Anti-Money Laundering Group, Morgan Stanley

PANEL DISCUSSION:
AML Intel Briefing: Uncovering the Latest Trends in Global Financial Crime
In this session, law enforcement officials present an exclusive briefing on global trends in financial and organized crime. Panelists analyze real-life cases to illustrate the common vehicles criminals are exploiting to move and conceal their illicit funds. Plus, take away best practices and red flag indicators to identify and monitor the latest criminal techniques to protect your organization from the risks they pose.

Moderator: William Fox, SVP, Global Anti-Money Laundering and Economic Sanctions Executive, Bank of America
Speaker:
Duncan Levin, Assistant United States Attorney, Asset Forfeiture Unit, Eastern District of New York
Deborah M. Morrisey, Group Supervisor, ICE, Miami

PANEL DISCUSSION:
Examining the Role of AML: Where Do We Stand? Where Are We Headed?
Over time, the role of AML departments and professionals has changed in many ways. What has the role evolved into? How does the role of today’s AML professional differ from 10 years, 5 years or even a year ago? And how will it likely change in the coming 5 to 10 years? With broadened responsibilities and tapped out resources, how has your purpose changed? Are AML professionals really catching criminals or just working to avoid penalties and regulatory repercussions? If you could change the role of AML to make it more effective, what would you do? Join this panel of thought leaders as they weigh in on how we’ve gotten where we are and discuss their vision for the AML profession over the coming decade.

Moderator: Kieran Beer, Editor-in-Chief, MoneyLaundering.com and Compliance Advantage.com
Speakers:
Peter Richard Hazlewood, Managing Director Compliance Services & Security Group Legal, Compliance, Secretariat and Security, DBS Bank
Jonathan Polk, Vice President, Bank Compliance, Federal Reserve Bank of New York
Daniel Soto, CAMS, Executive Compliance Director and BSA Officer, GMAC Financial Services
Robert P. Walsh, Global AML Officer, AXA Group
SPECIAL PRESENTATION:
Effectiveness of Transaction Monitoring
The first installment of ACAMS and Ernst & Young LLP's Global AML Insight Series
ACAMS and Ernst & Young LLP have teamed up to conduct a series of research surveys on key and emerging AML topics. Be sure to attend this inaugural presentation on Anti-Money Laundering-Transaction Monitoring. Attendees will be the first to hear the survey results and obtain key data and best practices that can assist in rationalizing and enhancing your own transaction monitoring program.

Speakers:

Steven Beattie, Anti-Money Laundering Services Leader and Principal, Financial Services, Ernst & Young LLP
John J. Byrne, CAMS, Executive Vice President, ACAMS

Concurrent Sessions: AML Compliance

In this compelling track, AML experts from financial institutions and government agencies show you how to optimize your AML program and mitigate your exposure to risk. Focused on day-to-day compliance challenges and illustrated through detailed case studies, you’ll walk away with vital information to ensure your AML program meets regulatory expectations.

Making Your Case to Management: Demonstrating the Success of Your AML Program
We all want to build a world beating program, but just how do we go about building one in these tough times? Where do we start and how do we demonstrate to senior management that the program makes sense and that it has tangible benefits? How do we track and report successes? Join this exclusive case study to learn how DBS Bank’s compliance program has succeeded justifying its existence—and exceeding management’s expectations.

Moderator:
Barry Koch, CAMS, Managing Director and Associate General Counsel, JPMorgan Chase
Speaker:
Peter Richard Hazlewood, Managing Director Compliance Services & Security Group Legal, Compliance, Secretariat and Security, DBS Bank
Coping With Multiple Sanctions Regimes: Developing a Program that Minimizes Risk
As regulators and global watchdogs place increasing attention on sanctions programs, compliance professionals are becoming more concerned with successfully meeting regulatory demands and avoiding penalties in this area. Increasingly, however, financial institutions need to be aware of more than just the sanctions issued by the Office of Foreign Asset Control – staying on top of U.N., EU and a number of other sanction regimes has become just as important. Whether you are a global entity or a regional institution, coming to grips with these requirements is of critical importance. This session examines the various sanctions efforts and details how each is created and what they mean for your financial institution. Learn how to build an enterprise-wide sanctions compliance program that satisfies varying jurisdictional requirements and take away practical guidance on sanctions screening and staff training.

Speakers:
Brian L. Ferrell, Assistant Vice President & Assistant General Counsel, Hartford Financial Services
Rosalind Lazar, Senior Vice President Regional Asia Pacific Anti-Money Laundering Compliance, Citicorp Investment Bank (Singapore) Limited
Stephen D. Marshall, Senior Vice President, State Street
Dennis P. Wood, Assistant Director, Compliance Outreach & Implementation, Office of Foreign Assets Control

Closed to Press

Managing Emerging Risks: Best Practices for Refining Risk Management
Focusing your efforts where your highest risks lie may lead to greater productivity and efficiency, but the risks to your institution are not static. They are continually evolving based on a variety of factors, and your risk-assessment program must be fine-tuned to account for these changes. In this practical session, learn how to adequately evaluate potential risks, how to prioritize investigations based on identified or perceived risks and how to establish a baseline for your institution that ensures that risks are addressed consistently across business lines.

Speakers:
Sandy DePoalo, Bank of New York Mellon
Stephen D. Marshall, Senior Vice President, State Street
Teresa Pesce, Leader, AML Services Group, KPMG

Concurrent Sessions: Trends and Methods

Faster than you can keep up with them, criminals are inventing new ways to launder money and defraud the financial system. Learn how law enforcement and financial institutions are combining efforts to combat the latest trends in financial crime, and how you can spot these trends within your own organization.

Preventing Money Laundering in Political Processes
Criminal organizations don’t seek only to conceal the funds they generate from their illicit activities; they often seek to use that money to influence politicians in or running for office around the world. This creates a risk financial institutions must watch for: people who have not yet been elected but who have received donations from illicit sources. In addition, the U.S. government is paying renewed attention to political action committees and potential finance abuses – something financial institutions that have PAC clients must be aware of. In this session, learn what you need to know about these issues and how to address the challenges this activity creates for financial entities, electoral authorities and law enforcement.

Speakers:
Alberto Avila, CAMS, Director, COMLAFT
John J. Byrne, CAMS, Executive Vice President, Association of Certified Anti Money Laundering Specialists (ACAMS)
John Kancans, Global AML Leader, GE Capital

The Misuse of Afghan Trade to Launder Narcotics Proceeds
The link between the drug trade and terrorist financing is increasingly evident in Afghanistan. The opium/heroin trade is a highly lucrative business that is funding the operations of the Taliban. A recent report by the United Nations Office of Drug Control estimated that Afghan opium production is valued at $438 million. In this session, expert speakers explain how the misuse of the Afghan transit trade is used to launder narcotics proceeds that eventually fund terrorism and how you at a financial institution can identify and report this activity.

Moderator:
David Chenkin, Partner, Zeichner Ellman & Krause LLP
Speakers:
Gary A. Haff, Section Chief, Office of Financial Operations, Drug Enforcement Agency
Dennis Lormel, President, DML Associates, LLC
Daniel Wager, Director, New York HIFCA

Concurrent Sessions: Global Challenges

Navigating the intricacies of global AML regulations is one of the toughest challenges you’ll face as a compliance executive. Let thought leaders from around the world show you what’s worked — and what hasn’t — in their ongoing efforts to combat money laundering and terrorist financing worldwide.

PANEL DISCUSSION: Determining Beneficial Ownership: The Push for Transparency
The exploitation of shell companies by arms traffickers, terrorist financiers and other criminals represents is a serious danger to the security of much of the world and to the international financial system, according to the U.S. Treasury Department, the Financial Action Task Force and other international governmental and non-governmental watchdogs. This panel will look at the proposals that require greater transparency with regard to beneficial ownership of shell companies, including the Incorporation Transparency and Law Enforcement Assistance Act (ITLEAA) now before the U.S. Congress and transparency measures from a number of off-shore tax havens in response to international pressure. Takeaways include what banks are doing now and what they can do to meet their due diligence requirements under existing laws as well as a look at what may be required of them going forward.

Speakers:
John Kancans, Global AML Leader, GE Capital
Douglas A. Leff, Chief, Asset Forfeiture and Money Laundering Unit, FBI Headquarters
Heather A. Lowe, Legal Counsel & Director of Government Affairs, Global Financial Integrity
Robert Mazur, President, Chase Associates, Inc.
Michael Tuckett, Director BSA/AML Compliance, NY State Banking Department

Leveraging AML Controls to Meet Rising Global Challenges
AML professionals are facing a number of new challenges, some connected directly to the global economic downturn, and others to rising international cooperation against rogue states, terrorists and fraudsters. Governments trying to recover assets connected to tax evasion and violations of the Foreign Corrupt Practices Act are leaning on financial institutions to detect these crimes and identify the assets. And, AML professionals are increasingly charged with responsibility for combating fraud and an array of other financial crimes. In this in-depth discussion, learn how your financial institution can leverage its existing AML programs to combat fraud, comply with FCPA requirements and meet the due diligence requirements needed to detect tax avoidance schemes. Walk away with a clear understanding of your compliance program’s strengths and limitations — and recognize the steps needed to meet regulatory expectations.

Speakers:
Ron P. King, CAMS, Vice President and Chief AML Officer, Scotiabank
Rosalind Lazar, Senior Vice President Regional Asia Pacific Anti-Money Laundering Compliance, Citicorp Investment Bank (Singapore) Limited
Markus Schulz, Chief Compliance Officer, Global Life & Banking, Group Financial Crime Officer, Zurich Insurance Company

Moving toward Greater Transparency in Cross- Border Payments: Impact and Remaining Challenges
Changes to SWIFT payment messages effective since November 2009 affect the processing of cross-border payments. What lessons have financial institutions learned throughout the implementation process? How have financial entities updated their systems, policies and procedures to prepare for the changes? What obstacles have they encountered after the implementation deadline passed? Join this discussion to learn more about how the changes to these payment messages have impacted cross-border payments and what you can do to ensure your institution is effectively managing the process.

Speakers:
Thomas Burnside, Vice President & Compliance Manager, JPMorgan Chase
John Dunning, AML Risk Executive for Global Banking, Bank of America
International ACH: Successes and Challenges of Implementation
The implementation deadline of the National Automated Clearinghouse Association (NACHA) rule — requiring that all financial institutions operating in the U.S. designate transactions received from outside of the U.S. as international transactions — was September 18, 2009. Under the new rule, which eases OFAC compliance obligations, financial institutions must include information mandated by the Bank Secrecy Act “travel rule” in payment messages. The rule also requires financial entities to make software upgrades and policy changes. Join this session for a look back at implementation and extract lessons from the successes and challenges of our expert speakers.

Speaker:
John Wagner, Director, Bank Secrecy Act/Anti-Money Laundering Compliance, Office of the Comptroller of the Currency
Mary Kate Cole, AAP, CAE, Vice President, Upper Midwest Automated Clearing House Association (UMACHA)
Deborah Thoren-Peden, Partner, Pillsbury Winthrop Shaw Pittman
Mary Kate Cole, AAP, CAE, Vice President, UMACHA
Deborah Thoren-Peden, Partner, Pillsbury Winthrop Shaw Pittman
Mitigating the Money Laundering and Terrorist Financing Risks in Free Trade Zones
Free trade zones are considered risky for a variety of reasons: some of them lack formal regulations, payments are made mostly in cash and many don’t have electronic records to create a paper trail for the money that flows through them. How should financial institutions that conduct business with these operations evaluate the risks free trade zones pose? How are free trade zones regulated? What systems can be put in place to prevent criminal abuse of free trade zones? Join this discussion to understand how the vulnerabilities of free trade zones affect financial institutions worldwide and learn how your organization can reduce its exposure to these risks.

Speakers:
Simon Dilloway, Principal, Lopham Consultancy
Robert Mazur, President, Chase Associates, Inc.
Arthur Ventura, Arthur Ventura Jr. & Associates
Leveraging your AML Program to Comply with FCPA and other Anti-Corruption Requirements
Enforcement actions against financial institutions and other businesses for breaches of the U.S. Foreign Corrupt Practices Act (FCPA) are likely to continue to rise as the global recession fuels corruption. Other governments have also ratcheted up enforcement of their own anti-corruption laws. What are the common denominators between your AML and FCPA programs? Can forming synergies between the two help your institution be more efficient and avoid penalties? In this session, learn which areas of AML compliance can be leveraged to meet anti corruption requirements and determine whether and to what degree your institution should marry these functions.

Speakers:
Harold A. Crawford, CMAS, SVP, Global Head of Anti-Money Laundering, Brown Brothers Harriman
Darren Donovan, Principal, KPMG Forensic
Noreen Fierro, Vice President, AML/FCPA Compliance Officer, Prudential Financial
Michael Tuckett, Director BSA/AML Compliance, NY State Banking Department

Concurrent Sessions: Industry Spotlight: Non-Depository Institutions

Compliance executives within MSBs, insurance companies, securities firms and other non-depository institutions face a unique set of AML compliance challenges. Created specifically to address your toughest problems, these presentations explain your industry-specific AML requirements, teach you the keys to setting up a risk-based AML program and prepare you for successful regulatory exams.

Streamlining Compliance Efforts to Effectively Meet Changing Regulatory Demands
The economic downturn and recent cases involving fraud have triggered various proposals for new AML regulation. Should any of these proposed measures be passed, the added burden on securities firms, insurance companies and money services businesses with regard to identity theft, privacy and fraud could increase exponentially. What is the best approach to marrying similar programs in order to avoid redundant processes and rules? Hear representatives from non-depository institutions share best practices for streamlining compliance efforts to effectively comply with obligations while avoiding duplication of efforts.

Moderator:
Stephen J. Shine, Chief Regulatory Counsel, Prudential Financial
Speakers:
Diane Horn, AML Officer and Director Compliance, Northwestern Mutual Investment Services
Michael G. Rufino, Senior Vice President and Deputy of Member Regulation, FINRA

Best Practices for Designing Effective Risk Assessment Models at Non-Depository Institutions
Determining how to effectively assess the risks of your institution is key to your AML efforts. It is vital to know what information is required to analyze your risks to ensure you focus your efforts on the real threats to your institution. Aside from the expected guidelines from the Financial Action Task Force on a risk-based approach for insurance, little guidance exists for non-depository institutions. Take away emerging best practices for designing successful risk assessment models and learn how to apply them at your own institution.

Speakers:
Brian L. Ferrell, Assistant Vice President & Assistant General Counsel, Hartford Financial Services
Noreen Fierro, AML Officer, Prudential Financial
Kiren M. Schulte, Vice President, Anti-Money Laundering Compliance & Regulatory Affairs, MoneyGram

Borrowing Best Practices from the Unique AML Challenges of Non-Traditional MSBs
The money services industry spans a wide range of businesses, some of which don’t fit the traditional definition of MSBs. PayPal and Wal-Mart, for instance, fall under the regulatory definition of MSB but provide different services than those offered by traditional MSBs, including electronic micropayments and stored-value services. What challenges do these entities face in securing bank accounts and managing regulatory exams? In this session, take an inside look at how these non-traditional MSBs manage their AML programs and services and extract AML best practices that can be applied to any MSB.

Speakers:
Simon Dilloway, Principal, Lopham Consultancy
Benjamin J. Floyd, CAMS, Director & AML Compliance Officer, Wal-Mart Stores
John Tyson, Esq., CRCM, CAMS, Vice President, Compliance, ACE Cash Express, Inc.

Protecting Your Institution through Effective Suspicious Activity Detection and Reporting
Effective suspicious activity and reporting processes are a cornerstone of your AML compliance program. Whether your organization’s core business lies in securities, insurance, money services or another non-banking industry, having a suspicious activity detection program that addresses the unique risks within your organization while meeting regulatory standards is crucial. In this session, hear what other organizations have done well and poorly in regards to their SAR/STR processes and learn how top executives have improved and refined their suspicious activity reporting programs to achieve better results.

Moderator:
Daniel Wager, Director, New York HIFCA

Speakers:
Lynne Federman, Director, Fedkor, Inc.
Benjamin J. Floyd, CAMS, Corporate Compliance Director, Wal-Mart Stores
Kimberly G. Hebb, NBE, CAMS, BSA/Compliance Specialist, Compliance Policy , Office of the Comptroller of the Currency
Deborah King, Director of Enterprise AML Investigations and OFAC Compliance, RBS-Citizens/Citizens Financial Group

Lessons Learned from the E*TRADE Enforcement Actions
In early 2009, E*TRADE paid a $1 million penalty for failing to have an adequate system to detect suspicious trading activities and other AML deficiencies. In 2008, the firm paid another $1 million penalty for failing to accurately document and determine the identities of more than 65,000 secondary account holders. In this session, learn what happens in a compliance department in the aftermath of AML enforcement actions, what steps were required to remedy identified deficiencies and lessons learned from the experience.

Speakers:
John Davidson, Global Head of Anti-Money Laundering, E*TRADE Financial
Barry Emmert, CAMS, Deputy Head of AML for GBM Americas

Adopting Best Practices to Manage Examinations by Multiple Regulators
U.S. insurance companies face uncertainty when it comes to examinations. While the Internal Revenue Service has examined a small group of insurance companies, the expectations for the industry are still unclear. And insurance companies have the added pressure of managing multiple state examinations. Now, some states like New York and California have stated that they will examine for AML and OFAC compliance and more states could follow. In this session, industry experts update you on the insurance regulatory landscape and discuss strategies to effectively prepare for multiple examinations.

Moderator:
Martin Feuer, Chief Compliance Officer, Zurich Financial Services, North America
Speakers:
Diane Horn, AML Officer and Director Compliance, Northwestern Mutual Investment Services
Lisa Tate, Associate General Counsel, American Council of Life Insurers
Life Insurance AML Benchmarking
What transaction monitoring rules and approaches are working? Which are not? What is the most effective organization of life insurance companies' AML function? Is it best to have an enterprise approach together with captive broker-dealers? Life insurance companies often have large blocks of very old in-force business. How much scrutiny and screening is justified for this business? How much financial crime risk is presented by different forms of payments, such as international payments and third party payments? Should the industry be imposing greater payment restrictions? Are life insurance companies making the most of 314(b) of the USA Patriot Act?

Moderators:
Brian Ferrell, Assistant Vice President & Assistant General Counsel, Hartford Financial Services
Robert P. Walsh, Global AML Officer, AXA Group

INDUSTRY WORKING GROUPS: INSURANCE | SECURITIES | MSBs
Pragmatic Solutions to Your Most Pressing AML Challenges
At a time when you face increased responsibilities and your resources are limited, your peers can be invaluable allies in sharing best practices and creative solutions to challenges. Join these intimate working groups to share ideas with your peers and identify strategies to address the tough compliance issues you face today. Scheduled alongside the main conference sessions, each industry will have the opportunity to participate in small-scale, closed-door discussions. You set the agenda and an industry practitioner guides the dialog – don’t miss this opportunity to tap into the real-life experience of your peers!

Concurrent Sessions: Regional Focus: Latin America/Caribbean

Whether your institution is based in Latin America or the Caribbean — or headquartered elsewhere in the world — there are distinct AML challenges facing any financial institution conducting business in this region. Taught by local experts and global authorities, these insightful sessions provide the latest information to empower you to successfully comply with multiple regulations both inside and outside the region.

Regulatory Update: Understanding Key AML/CFT Developments in Latin America and the Caribbean
Join this session to get updated on the latest regulatory developments that affect you. Experts will discuss the most significant regulatory initiatives and changes in selected countries in Latin America and the Caribbean, including which new industries have been brought under the regulatory umbrella, new legislation and implementation challenges identified by world organizations. Walk away with knowledge of the key regulatory issues facing the regions and how they impact your institution.

Moderator:
Ira Morales Mickunas, CAMS, Consultant, Managing Director, Milersen
Speakers:
Alberto Ávila, CAMS Director, COMLAFT
Octavio Betancourt Montoya, Managing Director, Milersen
RJ Berry, Head, Compliance, Cayman Islands Monetary Authority
Dr. Ramon Garcia Gibson, Garcia Gibson Consultants

Effectively Managing Business Relationships with Your U.S. and European Counterparts
Many Caribbean and Latin American financial entities conduct business in the U.S. and Europe, making it necessary to understand the AML requirements in those jurisdictions and ensure compliance with inconsistent regulations. In this session, experts discuss common challenges, including maintaining correspondent relationships and balancing differing jurisdictional requirements. Take away practical solutions to effectively manage your relationships with the banks you do business.

Speakers:
Alberto Avila, CAMS, Director, COMLAFT
Lynne Federman, Director, Fedkor Inc.
Markus Schulz, Chief Compliance Officer, Global Life & Banking, Group Financial Crime Officer, Zurich Insurance Company

Cuban Remittances: Understanding the Requirements for All Service Providers
The Office of Foreign Assets Control (OFAC) issued Cuban Assets Control Regulations (CACR) in September 2009. The goal of these regulations was to enable Cuban citizens to have greater contact with family members in the United States and increase the flow of remittances and information to the Cuban people. Now that the rules are in place, what must depository institutions do to update their programs and policies? Will non-U.S. financial institutions be required to make additional changes to their business practices? How has the entry of money service providers (MSPs) into the remittance arena affected the competitive landscape? In this informative briefing, learn about the political motivation of these new regulations, their impact on depository and non-depository institutions and understand what you must do to comply with these new requirements.

Speaker:
Marilyn J. Bruno, Ph.D., J.D., Bruno Consulting
Overcoming the AML Challenges of Entering New Markets
The impact of the economic crisis and greater regulation within the U.S. has led many Caribbean financial institutions to seek out new markets, including Latin America, Asia and the Middle East. What challenges are AML compliance officers facing in these new jurisdictions? What is the most effective way to manage customer due diligence when language and cultural barriers exist? Join this discussion to take away practical solutions that will enable you to adapt your risk matrices and due diligence processes to accommodate the demands of new regulatory and business environments.

Speakers:
Guillermo Horta Montes, Director, Anti-Money Laundering, Latin America and the Caribbean, Citigroup
Edward Rodriguez, CAMS, CFS, EA, Manager, Forensic Accounting and Dispute, Support Group (FADS), Watkins Meegan LLC
Extracting Lessons from SARLAFT, the Colombian Regulatory Model
In 2007, Colombia passed the Money Laundering and Terrorist Financing Risk Administration System, known as SARLAFT, its Spanish acronym. This model includes a series of directives and forms for entities to manage the risks of various areas of business, including cash transactions, money transfers and currency exchange. While other countries have adopted a risk-based approach to money laundering and terrorist financing controls, the Colombian model has received attention for its prescriptive focus on risk management. In this session, learn the key components of SARLAFT and take away lessons from the Colombian experience that you can apply to improve your own program.

Speakers:
Octavio Betancourt Montoya, Managing Director, Milersen LLC
Ira Morales Mickunas, CAMS, Consultant, Managing Director, Milersen LLC

Mitigating the Risks of the Venezuelan Bond Swap and Other Complex Foreign Exchange Methods
In Venezuela, the permuta is a common and legal method to exchange Venezuelan bolivares into U.S. dollars or vice versa in the parallel market. While the permuta is used primarily for legitimate reasons, its use of offshore corporations to facilitate the exchange poses a money laundering risk, as does the difficulty in determining the true source of the funds. Industry experts discuss common misconceptions about legal currency exchange systems in parallel markets and present indicators to help you mitigate risks and identify potentially illicit transactions.

Speakers:
Thomas Burnside, Vice President & Compliance Manager, JPMorgan Chase
Luis E. Rivases, Vice President, Anti-Money Laundering Prevention and Control, Econoinvest Group
Brian Stoeckert, CAMS, Vice President, Enterprise Compliance, Deputy Bank Secrecy Act Officer, OneWest Bank

"I do not attend any other industry events, because to me this conference is the best there is."

CONFERENCE PROGRAM

General Sessions

Concurrent Sessions: AML Compliance

Concurrent Sessions: Trends and Methods

Concurrent Sessions: Global Challenges

Concurrent Sessions: Industry Spotlight: Non-Depository Institutions

Concurrent Sessions: Regional Focus: Latin America/Caribbean