Determining When to De-risk: Top 5 Major Pitfalls to Avoid when Ending a Client Relationship

November 18, 2020 2:45pm

Michael Burgess
Senior Manager, Major Investigations/Demarkets
BMO Financial Group

Joseph Mari
Director, Financial Intelligence Unit and External Partnerships

  • Exploring de-risking beyond a variant on “KYC” and “CDD” onboarding issues: Understanding contractual obligations to the client and managing their expectations
  • Setting de-risking criteria and executing the decision-making process in the context of a clear risk tolerance framework
  • The special case of AML and TF risk – more than just a regulatory issue: How to avoid reputational, financial and other risk including ethical concerns and even potentially criminal liability due to amendments to the Criminal Code in June 2019