14th Annual Forum on Anti-Money Laundering

Registration Opens and coffee is served

Opening remarks from co-chairs

Key trends in AML – Global movements and domestic developments

This session will examine Canada’s responses to global AML developments and what they will mean for your organization. Learn about emerging trends, opportunities, and threats, as well as perceptions of regulation, cost, and the effectiveness of current AML programs from KPMG’s Global AML survey.

Take a look at priorities for senior management, the global approach, know your customer requirements, and transaction monitoring.

The session will conclude with a panel discussing how Canada’s approach to AML compares to other jurisdictions and compliance challenges faced by regulated entities.

Networking refreshment break

Preparing for the implementing regulations under Bill C-31 – The key issues your organization will need to address in order to maintain compliance

The regulations implementing much of Bill C-31 will impact your organization’s AML/ATF program. Find out how Bill C-31 will affect you and your compliance program.

• The new requirement for foreign MSBs providing services to customers in Canada to comply with Canadian AML regulations and register with FINTRAC
• Defining domestic Politically Exposed Persons (PEPs)
  • Who is a high risk PEP?
  • Who can reasonably be known to be a close associate?
  • What is involved in EDD where an individual is identified as a high-risk domestic PEP
• The impact of enterprise-wide information sharing on your AML policy

Essential risk management and compliance considerations for every AML policy

• Determining your organizational risk tolerance
• Dealing with high-risk clients
• Implementing continuous monitoring strategies that meet your compliance obligations
• Tracing beneficial ownership – how far are you required to go?

Networking luncheon for speakers and delegates

An afternoon with the regulators

Hear directly from the regulators on the most pressing challenges facing your organization.

• Updates on regulatory changes
• Clarifying the supervisory and examination strategies of OSFI and FINTRAC
• Group-wide compliance
• What to expect in paper and in-person examinations
• Updates on OSFI guideline B-8
• Advice to institutions for dealing with the risk-based approach
• Regulatory expectations based on your business model

Networking refreshment break

Q & A with the regulators

This is your opportunity to engage directly with the regulators, from OSFI and FINTRAC, and have any of your pressing questions answered.

Using analytics to your advantage

Learn how leading edge technology and analytics are being used internationally to monitor and model customer behaviour, and spot anomalies.

• The latest efforts in model validation
  • Transaction monitoring
  • Automated customer risk rating
• Consistent monitoring and evaluation of transactions
• Common red flags that can point to anomalous transactions
• Managing the increasing cost of compliance through automation
• Continuous monitoring for organizations of all sizes

Sanctions – Best practices for preventing transactions from falling through the cracks

• Emerging trends in sanctions compliance
• Can you still be caught by sanctions if you are only indirectly involved in a transaction as a correspondent bank?
• Beyond the list – How far do you have to go in determining whether an entity or individual involved in a transaction is subject to sanctions?
• Using multiple lines of defense to manage your risk
• Dealing with terrorist financing
• Operationalizing sanctions enforcement over multiple jurisdictions
• Addressing the dual challenges of transaction volume and publicly available information
• Penalties for non-compliance
• The future of EDD – ensuring that you are not dealing with sanctioned persons

Closing remarks from co-chairs Conference adjourns

Refreshments are Served

Opening remarks from co-chairs

Digital financial services and AML compliance

With technology steadily advancing the mainstreaming of cryptocurrencies and digital stores of value, “money” is now moving globally outside of major FIs. Experts will discuss the shape of practical solutions in the digital financial services industry.

• Financial Technology (Fintech) – AML compliance within the growing Fintech industry – cryptocurrencies, payment processing platforms, and prepaid cards
• Digital currencies and gaming – immediacy, privacy, and the security of payment
• AML risks for online banks
• The movement of digital stores of value globally
• How digital financial service providers and FIs can work together to ensure AML compliance
  • Steps a DFS provider can take to illustrate thorough AML compliance to an FI
  • Reciprocally working with DFS providers for FIs
• The evolution of policy and technology – What would a successful virtual currency regulatory regime look like? – Lessons from The Isle of Man and Malta

Networking refreshment break

The de-risking debate

Striking the balance between an organization’s risk tolerance and the cost of compliance is proving ever more difficult. This session explores the challenges and potential solutions that FIs and clients identified as high-risk can employ to ensure smooth working relationships.

• Steps you can take to satisfy yourself that high-risk regulated clients are meeting their compliance obligations
• Communicating your organization’s approach to an FI to set clear expectations and forge strong relationships
• Asking the right questions to bridge the gaps – steps both FIs and clients identified as high-risk can take to ensure appropriate risk assessments and monitoring procedures are in place
• Working together to find mutually acceptable solutions

Risk management and compliance essentials – Compliance at any size

Explore the essentials of building a scalable AML/ATF program for institutions of any size while ensuring your organization has a culture of awareness from the ground up. This session is important for institutions of all sizes, and essential for small to medium size Financial Institutions, MSBs, dealers in precious metals and stones, and other regulated entities.

• Gain practical insights into how to build a sound and scalable compliance regime from its inception
  • What components are essential to comply with your FINTRAC and OSFI obligations?
  • How do you draft a compliant policy that your organization can follow without straining resources?
  • What steps can you take to ensure that, when your organization grows, your AML policy grows with it?
  • Effectively document compliance for examination preparedness
• Creating a culture of compliance in your organization
  • Tips to strengthen training:
    • Understanding how money moves to facilitate money laundering
    • Spotting potential red flags

Networking luncheon for speakers and delegates

Sponsored By:

Special address from the office of the privacy commissioner

Views from the Privacy Commissioner on :

• The sharing and disclosure of personal information related to AML reporting requirements
• Lessons learned from previous investigations and compliance activities undertaken by the OPC
• Best practices related to outreach, education, and training

Networking refreshment break

Closure – A law enforcement perspective of how your AML efforts are used to thwart criminals

Law enforcement officials from both Canada and The United States speak about their enforcement experiences dealing with financial crimes.

• Learn what types of criminal behaviour are most prevalent in Canada and the United States, and how you can help spot the red-flags
• Real-life examples of how AML information collection and reporting efforts have been used by law enforcement to shut down criminal organizations

FINTRAC compliance proceedings and appeals

Explore legal and procedural strategies available to reporting entities after receiving a Notice of Violation, including making representations to the Director of FINTRAC and appealing to the Federal Court. This session will help stakeholders understand:

• The statutory right to respond to a Notice of Violation
• Confidentiality issues and the ‘name and shame’ list
• Unpack the ‘due diligence’ defence
• Recent developments in the Federal Court

Closing remarks from co-chairs

Forum concludes