Dealing with Foreign Clients and Cross-Border Requirements for Financial Institutions and Casinos

Sep 29, 2014 3:25pm ‐ Sep 29, 2014 4:40pm

Identification: CH3

The West Coast is a nexus of foreign financial activity into the US from Latin and South America and Asia. We face the ever present challenge of record keeping compliance and vetting our clients. However, in many cases the readily available information validating what is presented to us is somewhat lacking. This incompleteness and uncertainty has led many in the industry to engage in de-risking.

AML practitioners have indicated that verifying the source of income provided the most challenging area to include in their compliance plans. These challenges are in areas such as EB5 visa, validating foreign source of funds, and record keeping requirements especially in light of attempts to streamline international travel documentation requirements. Come join us for a discussion of the current roadblocks and strategies to put those clients back on your risk assessment.

Here in Vegas, the house always wins. Don't make KYC risk a game of chance; stack the deck in your favor.

Items we will cover:
  • EB5 requirements and difficulties
  • Border state issues in Mexico and Asia
  • Vetting foreign clients
  • Validating source of funds

Insurance Focus: Strengthening Your AML Compliance Program

Sep 29, 2014 3:25pm ‐ Sep 29, 2014 4:40pm

Identification: MI3.2

  • Adopting ongoing CDD and KYC best practices
  • Implementing rigorous on-boarding controls for high risk clients including PEPs
  • Optimizing investigation techniques for suspicious activities and recordkeeping
  • Utilizing lessons learned from bank enforcement actions that apply to insurance companies

Opening Remarks and ACAMS Awards Ceremony

Sep 30, 2014 8:00am ‐ Sep 30, 2014 8:15am

Identification: GS05

Addressing Regulatory Concerns and Emerging Examination Trends

Sep 30, 2014 8:15am ‐ Sep 30, 2014 9:30am

Identification: GS06

Overcoming Data Sharing Obstacles to Achieve Greater Transparency

Sep 30, 2014 10:00am ‐ Sep 30, 2014 11:15am

Identification: CS4

  • Addressing multijurisdictional data privacy and bank secrecy challenges posed by correspondent banking
  • Establishing secure communication avenues to facilitate information exchange across the enterprise
  • Understanding the FATF’s recommendations and other key guidance related to data privacy and client information sharing
  • Centralizing functions to aid communication conflicts, protect and assess the quality of information provided  


[Case Study] Effectively Managing Risk in an Evolving Virtual Currency Landscape

Sep 30, 2014 10:00am ‐ Sep 30, 2014 11:15am

Identification: DT1

  • Addressing anonymity challenges through application of robust due diligence and monitoring controls
  • Applying advanced investigative techniques to identify virtual currency-related transactions within your institution
  • Anticipating regulatory expectations regarding banking alternative currency exchangers
  • Dissecting recent headline making cases and identifying common system vulnerabilities

You Have Collected a Wealth of Information, But Do You Really 'Know Your Customer'?" - Presented by EY

Sep 30, 2014 10:00am ‐ Sep 30, 2014 11:15am

Identification: SP4

This session will address how KYC files can offer a wealth of information that can be further leveraged across the AML and Sanctions compliance programs, including:
  • Support for the risk assessment and program transformation initiatives
  • How solid KYC assists with correspondent and affiliate monitoring

Implementing Measures to Enhance the Effectiveness of Your AML Program

Sep 30, 2014 10:00am ‐ Sep 30, 2014 11:15am

Identification: CORE1

  • Utilizing data analytics to assess the health of your AML program
  • Establishing processes for escalating and addressing concerns through the appropriate channels
  • Creating guidelines for efficiently reporting to the board of directors
  • Developing effective communication with business lines

Optimizing Your Sanctions Risk Management Program - 2

Sep 30, 2014 10:00am ‐ Sep 30, 2014 11:15am

Identification: RM4

  • Evaluating your sanctions risk exposure
  • Leveraging AML resources to strengthen sanctions controls
  • Applying intelligence from recent case settlements to strengthen your monitoring practices
  • Understanding regulatory priorities around cash letters, exchange and trade houses, and custody accounts
  • Maintaining a dynamic sanctions program that adapts to an evolving financial and political environment

Casinos Focus: Examining Best Practices for Know Your Customer Programs in Casinos

Sep 30, 2014 10:00am ‐ Sep 30, 2014 11:15am

Identification: MI4.1

  • Educating frontline staff to recognize suspicious activities and high-risk players
  • Establishing robust practices to uncover source of wealth
  • Fortifying customer due diligence programs to address high-roller clientele
  • Mitigating against common fraud schemes including associated players