Networking Breakfast and Registration

Opening Remarks from the Co-Chairs

Andres Betancourt, CFCS, CAMS, CCI, CBE, FIS
Senior Manager, AML/ATF International, Banking Internal Controls
Scotiabank

Christine Ring
Vice President, AML Advisory,Canada and the Caribbean
Royal Bank of Canada
Former Managing Director, AML, and Compliance Division
Office of the Superintendent of Financial Institutions Canada (OSFI)

Special Keynote with FINTRAC Leadership

Modernizing and Strengthening Canada’s AML Regime

Sarah Paquet
Director and Chief Executive Officer
FINTRAC

Donna Achimov
Chief Compliance Officer and Deputy Director
FINTRAC

Moderator:

Stuart Davis
Executive Vice President, Global Head, Financial Crimes Risk Management
Scotiabank

During this highly anticipated session, hear from FINTRAC leadership on its strengthened commitment to best practices within Canada’s AML/ATF Regime and learn about collaboration between counterpart financial intelligence and regulatory agencies. We will hear from FINTRAC leadership on initiatives aimed at combatting money laundering across Canada, including:

• Advancing innovative public-private partnerships through the newly established Public-Private Collaboration Steering Committee by FINTRAC
• Enhancing emphasis on innovation and modernization to navigate the ever-changing and increasingly challenging AML/ATF environment
• Strengthening Canada’s legislative framework to better protect Canadians and the financial system from money laundering
• FINTRAC’s strategic priorities and compliance expectations moving into 2024 and beyond

Incoming AML Policy Changes

A Review of the Beneficial Ownership Registry in Canada, the PCMLTFA, KYC Compliance, and Other Important AML Measures in the Pipeline

Suhuyini Abudulai, CAMS
Partner
Cassels Brock & Blackwell LLP

James Cohen
Executive Director
Transparency International Canada

Rosa Copetti
AMLRO & Director, Canadian Personal & Business Banking
BMO Financial Group

Jeff Simser
Barrister & Solicitor
Former Legal Director
Ministry of the Attorney General

Rita Trichur
Senior Business Writer and Columnist
The Globe and Mail

The Canadian federal government is strengthening Canada’s AML regime by planning a beneficial ownership registry that would require corporations to register and verify the identity of companies’ beneficial owners, making it more difficult to use shell companies to conceal criminal activity. In 2022, the federal budget underscored Canada’s commitment to amend the Business Corporations Act to implement a public and searchable beneficial ownership registry, aiming to make it accessible before the end of 2023.

During this critical discussion, we will explore:

• An overview of the current corporate transparency landscape in Canada
• Understanding Canada’s Beneficial Owner Registry in a global context
• Updates on Bill 78 and publicly accessible beneficial ownership information
• How federal, provincial, and territorial governments are working on Beneficial Ownership transparency (BOT) and updates to key milestones of the collaboration

Networking Break

Forecast for Crypto Regulation

The Path to Regulatory Clarity for Cryptocurrencies and Other Digital Assets on the Heels of the Collapse of FTX

Adam Garetson
General Counsel and Chief Legal Officer
WonderFi

Joseph Iuso, CAMS, CFCS
Chief AML Officer
BitBuy

Eric Richmond
Chief Operating Officer
Coinsquare

Following recent events in the crypto market, the Canadian Securities Administration (CSA) is strengthening its approach to the oversight of crypto trading platforms. During this panel, we will explore the expansion of existing requirements for crypto platforms operating in Canada, with discussion points including:

• Understanding the cryptocurrency landscape across major economies
• The role of regulations in the transition to a crypto world
• An update to crypto trading platforms operating in Canada
• The role of the Ontario Securities Commission (OSC) in creating the first global crypto platform, Crypto.com
• The CAFC and the RCMP’s new National Cybercrime Coordination Unit
• Understanding the latest, most-sophisticated techniques being used by crypto launderers – AlphaBay as an example, layering techniques

Networking Luncheon

PCMLTFA and RPAA

Understanding the Confluence of the PCMLTFA and the Retail Payment Activities Act: What MSBs, PSPs, and the Financial Institutions that Bank them Need to Know

Peter Aziz
Senior Counsel and Member, Financial Institutions Practice and the Payments and Cards Practice
Torys LLP

Marie-Andree Malo-Mongeau, CPA, CA, CAMS
Senior Director, Commerce Solutions Product & Client Experience
CIBC

Sandy Stephens
Vice President and Chief Compliance Officer
Alterna Credit and Alterna Bank

The PCMLTFA and RPAA seek to regulate overlapping activities – those defined as a money services business, and retail payment activities of a payment service provider, respectively. This panel will examine similarities and differences in these definitions, and what each statue requires of these entities beyond registration. Most MSBs will face significant and different compliance obligations under the PCMLTFA and the RPAA. Finally, we will examine how PSPs will be required to hold client funds, and the implications for FIs who offer deposit accounts to these entities.

Advanced Technologies in AML: Implementing Robust AI and Machine Learning Tools to Modernize Your Risk-Based Approach to AML

Stephen Alsace
Global Head of Economic Sanctions
Royal Bank of Canada (RBC)

Drew Galow, MSc, CAMS
Managing Director, AML Model Management, Analytics and Machine Learning
BMO Financial Group

John Weigelt
National Technology Officer
Microsoft Canada

Learn about the myriad ways that AI is innovating AML and gain key strategies for adapting AI into compliance across the organization. During this AI-focused session, take a deep dive into Digital transformation of AML through AI as we discuss:

• Keeping up with technological advances to curb fraud
• Using AI to remediate false positives and true negatives
• Identifying the value and use of AI in transactions monitoring
• The current use of modern technology to combat money laundering

Networking Break

International Perspectives: Breaking Down International AML/CFT Legislative Developments in the EU, US, and UK

Marcus Asner
Partner & Co-chair, White Collar Defense & Investigations Practice
Arnold & Porter
Former Assistant U.S. Attorney; and Former Chief, Major Crimes and Computer Hacking/Intellectual Property, Southern District of New York

Deborah Connor
Partner, Litigation Department
Morrison Foerster
Former Chief, Money Laundering and Asset Recovery Section
U.S. Department of Justice

John Corelli
Chief Counsel Serious Fraud Officer
Crown Law Office – Criminal
Ministry of the Attorney General

Join this intriguing discussion on DPP laws and frameworks with insights from the Financial Action Task Force (FATF), the independent inter-governmental body that develops and promotes policies to protect the global financial system against money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction.

The FATF, whose recommendations are recognized as the global AML and counter-terrorist financing (CTF) standards, will give insights into the implementation of initiatives in accordance with DPP laws and frameworks.

• Strengthening privacy for the digital age
• PIPEDA, Privacy, and what’s next for the AML landscape
• International investigations and plea agreements
• A look at the AML patterns and restrictions in the EU, US, and UK
• Common issues in international investigations and plea agreements

Unexplained Wealth Order Legislation | A Guide to the Legislative Landscape of Illicit Enrichment and Unexplained Wealth Orders (UWOs) to Combat Money Laundering

Paul M. Bourassa
Barrister & Solicitor
Bourassa Law
Former Federal Crown Prosecutor Government of Alberta

Norman Groot, LL.B., CFE, CFI
Founder and Managing Lawyer
Investigation Counsel PC Fraud Recovery Lawyers

Alesia Nahirny, JD MA CAMS
President
Ukrainian Canadian Bar Association

Day 1 Adjourns to Networking Cocktail Reception

Networking Breakfast & Registration

Opening Remarks from the Co-Chairs

Andres Betancourt, CFCS, CAMS, CCI, CBE, FIS
Senior Manager, AML/ATF International, Banking Internal Controls
Scotiabank

Christine Ring
Vice President, AML Advisory,Canada and the Caribbean
Royal Bank of Canada
Former Managing Director, AML, and Compliance Division
Office of the Superintendent of Financial Institutions Canada (OSFI)

KEYNOTE

Keynote Presentation with Finance Canada

Erin Hunt
Director General, Financial Crimes and Security Division
Department of Finance Canada

Modern-Day Money Laundering Schemes, Scams and Cons: Fighting Money Mules, Bitcoin Fraud, and More in 2023

Fnan Desta, CAMS
Senior Manager, Financial Intelligence Unit
BMO Financial Group

Jeff Thomson
Senior RCMP Intelligence Analyst
Canadian Anti-Fraud Centre (CAFC)

John F. Tobon, CAMS
Special Agent in Charge
U.S. Department of Homeland Security
Senior Advisor
Financial Crimes Enforcement Network,
U.S. Department of the Treasury

Rob Vingerhoets, CFCI
Proceeds of Crime Section, Financial Crimes Unit – Detective Constable
York Regional Police

Frauds and losses reported to the Canadian Anti-Fraud Centre (CAFC) have recently experienced a shocking increase in recent years. Considering the sharp increase in reported frauds and a proliferation of schemes, scams, and cons like money mules and bitcoin fraud, Financial Institutions should be ready to pro-actively protect their organizations from the various frauds happening in 2023.

During this session, we will explore:

• How agencies are working together to combat a proliferation of modern-day money laundering schemes, including the partnership between CAFC and the Ontario Provincial Police
• Proactively protecting your organization from the most-reported scams and fraud in 2023 – including extortion, phishing, merchandise scams, service scams and vendor fraud
• Best practices for providing internal and external awareness to prevent victimization
• Threats from transnational groups

Networking Break

Achieving AML Compliance Goals: Implementing Process Optimization to Maximize AML Compliance Outcomes

Jill DeWitt
Senior Director - Industry Practice Lead, Financial Crime Compliance
Moody’s Analytics

Erika Postel, LLB (Arg.), CAMS
Director, AML Program Delivery – Consumer and Small Business
Scotiabank

With the power of automation to streamline arduous AML processes, financial crime leaders are positioned to make smart, data-driven decisions to help pinpoint authentic suspicious activity while at the same time, saving resources and time. During this session, we will explore:

• How to optimize your financial crime analytics and automation
• Understanding the key differences between analytics and automation
• How to gain deeper insights to identify bottlenecks that impede optimization
• The role of bots in performing process automation and optimization
• Using optimization to gather, filter, and format data

CASE STUDY

Project Gemini Identifying and Combatting the Risks Associated with Counterfeit Goods and Intellectual Property Infringement

Nick Oscar Ruggiero, CAMS
Manager, Financial Intelligence Unit, Office of Law Enforcement Outreach & Investigations, Canada
Western Union

Robert Whalen
Field Intelligence Officer
Toronto Community Housing
Former Detective
Toronto Police Service

Project Gemini, a public-private partnership led by Western Union, seeks to raise awareness, and encourage reporting entities to adopt risk mitigation strategies to identify, report, and combat the manufacture and sale of Counterfeit Goods (CG). Join steering committee members from the Canadian Anti-Counterfeiting Network (CACN) for a look at best ways to identify risks associated with product counterfeiting, fraud, and copyright piracy as we explore Project Gemini and the direct link of Counterfeit Goods to organized crime and terrorist financing.

During this session, we will explore:

• The myriad ways that CG endanger the health and safety of consumers due to hazardous and dangerous materials being used to make them
• Ties to dangerous working conditions, including child labour and victims of human smuggling or trafficking
• The direct link to organized crime and terrorist financing
• How the sale of CG denies governments of tax revenue that could be used to fund infrastructure projects like hospitals, school and roads
• CG are made of inferior quality materials that have a limited shelf life that eventually end up in landfills causing environmental damage

Networking Luncheon

Navigating the Complex Maze of Russia Sanctions: Strategies to Manage New, Complex, and Conflicting Sanctions

Lincoln Caylor
Partner
Bennett Jones LLP

Samantha Elefant
Counsel, Global Compliance & Ethics
Liberty Mutual Insurance

Andrew Jensen
Managing Director and Global Head, Sanctions and Screening
Scotiabank
Former Assistant Director of Global Affairs, Middle East/North Africa
U.S. Department of Treasury

The Scope and Impact of Cyberattacks on Canada’s Financial Institutions: Best Practices for Strengthening Your Cybersecurity Posture

Imran Ahmad
Senior Partner, Canadian Head of Technology
Co-Head of Information Governance, Privacy and Cybersecurity
Norton Rose Fulbright Canada

Khaled Shoeb, MFAcc, CFE
AVP - AML & Financial Crime Risk IT&V - Canada & Latin America
Wells Fargo

Jay Turnbull
Director, Fraud Intelligence and Strategy
Mastercard

The Canadian government has named the country’s cyber security a top priority and, as a result, proposed the allocation of CDN $875.2 million ($643.3 million) to bolster its resources to deter, defend, and prevent cyberattacks. During this session, we will explore:

• Addressing the predominant cyber threats to Canadian national security
• Identifying today’s most common cyber threats to Canadian financial institutions – and across the globe
• Deploying the Communications Security Establishment to fight cyberattacks across Canada
• Understanding the latest, most-sophisticated techniques used by cybercriminals, including ransomware, spyware, and phishing, to siphon billions out of victims each year

Networking Break

State of Play: AML in Gaming | Navigating Financial Crime and Money Laundering Risks Associated with Online Gambling and Sports Betting in a Complex Regulatory Environment

Kevin deBruyckere, MBA, CAMS
Director, AML & Investigations, Legal, Compliance, Security
British Columbia Lottery Corporation

Christine Do Souto
Chief AML Officer
iGaming Ontario, Alcohol and Gaming Commission of Ontario (AGCO)

Chris LeBlanc
Director of Compliance, Digital Gaming
Mohegan Gaming & Entertainment

Derek Ramm
Director, Anti-Money Laundering
The Alcohol and Gaming Commission of Ontario

• An understanding of the regulatory environment, including amendments to the Criminal Code
• For banking, MSB, and payment service providers – what is authorized and what is illegal to help support SAR/STR filing decisions
• Law enforcement – providing information about the applicable provisions of the criminal code and provincial regulations

Key AML Compliance Missteps that Land Companies in Hot Water and Top Strategies to Reduce Potential AML Violations

Michael Bowman
Global Chief AML Officer
TD Bank

Garry Clement
Chief AML Officer
VersaBank

Ross S. Delston
Attorney & Expert Witness
Former Assistant General Counsel
Federal Deposit Insurance Corp. (FDIC)

Moderator:

Bob Kapur
Director, Financial Crime Compliance & Money Laundering Reporting Officer
Sun Life

Ever-evolving AML compliance obligations that are growing increasingly technical and complex have heightened the risk of compliance missteps resulting in burdensome investigations, onerous penalties, and irreparable damage to reputation. During this session, leading industry insiders will explore proven techniques on how to shore up continuous improvement areas to help you achieve effective compliance controls.

• Top strategies to reduce potential AML violations
• Practical assessment techniques to pinpoint strengths and weaknesses in your compliance program

Closing Remarks and Conference Adjourns