Since the FFIEC agencies began applying the OCC's Supervisory Guidance on Model Risk Management (OCC 2011-12) to Bank Secrecy Act / Anti-Money Laundering compliance practices during 2012, U.S. financial institutions have adopted more rigorous use of analytics, testing, and governance. This session will highlight best practices in Model Tuning & Optimization.
Topics covered will include:
The I-95 Corridor connects the largest cities in the Northeast. It also provides an efficient and direct route for criminal groups to transport the proceeds of crime through several states in a matter of hours. This presents a unique problem for both law enforcement and financial institutions as they strive to identify, investigate, and curtail these illegal activities. This session will describe four major types of smuggling along this corridor and provide insight for financial institutions tracking transactions flowing down the highway.
In particular, the session will focus on:
The movement of people – human and labor trafficking
The movement of drugs – medical marijuana to heroin
The movement of goods – tobacco, fuel, and counterfeit items
The movement of cash – online gambling, drugs, and check cashing