At last month’s American Banker’s Association Money Laundering Enforcement Conference in Washington, DC, I attended a session where a representative from the OCC discussed the most common gaps in financial institutions’ BSA/AML programs that led to
At the ABA Money Laundering Enforcement Conference this week in Washington, D.C., I attended a session entitled “The Next Generation of AML Risk Assessment”, where presenters Erin McAvoy, Principal, Financial Services, Ernst & Young LLP and Pete Richards, Senior Vice President, FIU Analytics Director, Santander Bank N.A., explained that a yearly risk assessment is just not adequate in today’s regulatory environment. According to Ms. McAvoy,…
Lessons About KYC, De-risking and Decision Making from the ABA Money Laundering Enforcement Conference
The concept of de-risking continues to hold sway when compliance and AML leaders get together. This was true at the ABA Money Laundering Enforcement Conference in Washington, DC November 14 – 17. It was a double-ABA, co-hosted by the American Banking Association and the American Bar Association.