Each year, between $500 billion and a trillion dollars of laundered money is generated through international banks and financial institutions. It is estimated that half of this laundered money is conducted through banks in the USA where the primary source of laundered funds comes from the accessibility of the financial system and trade-based money laundering.
As the largest economy in the world and influential political power, the United States plays an important role in the global fight against the financing of terrorism and money laundering, and this is expected to rise again in response to the COVID-19 pandemic, which has triggered unprecedented changes and is forcing the banking industry to rapidly adapt and transform their AML and KYC processes.
Transform Finance brings together senior leaders from the banking industry to discuss the latest innovations and share insight on the AML and Financial Crime landscape, delving deep into these topics along with optimizing KYC and Transaction Monitoring processes, whilst reviewing and adapting to the latest regulations and changes. Across the day, our leading industry experts will explore how to deal with the impact and aftermath of COVID-19, and how this has accelerated digital transformation for AML and KYC.
We are committed to supporting the global banking community to help prevent financial crime through collaboration, data sharing and innovations and tactics to help protect your bank.
Content highlights will include:
- How the impact of COVID-19 is affecting banking for Financial Crime – from culture in the workplace to compliance challenges and regulators’ input
- Understanding AML & Financial Crime Prevention
- Optimizing Transaction Monitoring processes and innovations with the use of AI, advanced analytics and automation and ensure compliance
- All things KYC, including innovation, ID verification, risk mitigation, onboarding optimization and regulatory requirements
- Exploring emerging technologies – leveraging Machine Learning, AI, Automation for Financial Crime programs and Blockchain for Cryptocurrencies
- The changing landscape of banking cannabis, the challenges and approaches to take
- Economic Sanctions on how to ensure compliance and reviewing the global landscape
- Performing a Risk Assessment for Money Laundering, Sanctions and Bribery & Corruption in the age of the COVID-19 pandemic
- Understanding how AML & Financial Crime Prevention can help combat Human Trafficking