Agenda

Panel Discussion 

• Best practices to approach explainable AI to ensure proper risk mitigation protocols are implemented
• Best practices for training algorithms to ensure fairness in the outputs produced.
• What can we expect to see in terms of frameworks surrounding AI implementation?

Panel discussion

 

• Understanding the importance of accurate SARs filing and best practices for accurate filings
• Increasing data transparency between public and private entities without sacrificing data protection
• Exploring the challenges that arise

• Customer Type: Money launderers are typically internal customers with legitimate accounts, while fraudsters are often external actors. 

• Time Horizon: Money launderers take a long-term approach, blending illicit funds gradually, whereas fraudsters act quickly exploiting short-term opportunities. 

• Monitoring Focus: AML systems monitor long-term behavior patterns, while fraud systems prioritize rapid detection of specific events. 

• Validation Approach: These differences require distinct validation methods, each demanding a unique thought process and focus. 

1. The Role of AI in Financial Compliance- Asa Bush, Creative Lead, Hummingbird  2.  The real need for real-time monitoring: the move towards faster fraud detection- Mary-Kate Perry, Enterprise Accoun ...

• Explainability: How can AI-generated decisions be explained to regulators, auditors, and internal stakeholders?
• Regulatory concerns: What are the key compliance hurdles when integrating AI into AML systems?
• Can AI truly reduce false positives, or does it shift the problem to new areas? What are the best strategies to optimize AI algorithms without sacrificing compliance?
• How can institutions implement advanced AI models while maintaining transparency and explainability? What are the real-world solutions that banks have used to address this?
• How do different regulators view AI-driven AML systems, and what are the specific compliance challenges? How can banks work with regulators to develop mutually beneficial frameworks?
• What challenges are FIs facing to incorporate predicative and generative AI into their FC programs?
• What do FIs view as the largest gain to their program if they were, or have already witnessed,  by implementing AI: greater efficiencies (genAI) or reduce FPs (predicative AI)?

Panel Discussion

• How can RegTech help implement robust transaction monitoring skills to understand consumer behaviours? 
• Best methods for monitoring and identifying suspicious activities
• In what ways can RegTech help streamline the CDD process?
• How can RegTech be integrated with legacy systems effectively and cost efficiently?

Panel Discussion 

• How can we assess the operational risks involved in an organization’s fraud and cyber approach?
• Best methods for organizational design and ensuring resiliency against threats.

Best Practice Case Study 

As financial crimes prevention complexity increases, a shift away from a “check the boxes” compliance approach is underway. Organizations are realizing that if all they have is a completed checklist, they may not have effectively detected and prevented financial crime.

In this session, you will learn:

• What a transition to financial crimes prevention effectiveness looks like
• Why data quality is the foundation to this shift (and a useful data quality framework)
• How to gain a holistic view of your customer risk

 

Mobile identity - the simplicity they want, the protection you both need

Best Practice Case Study 

In today's world, there are more phone numbers than people. That's 11.7 billion cellular connections. Just about everyone—9 in 10 people—has a phone number. That phone number, and the associated data it possesses, has become a universal standard for identity verification. 

Dive into strategies for prioritizing conversion alongside security, understand how mobile identity streamlines IDV and eKYC checks to reduce wasteful costs, and learn techniques to effectively flag potential fraud and high-risk phone numbers.

Let’s take this opportunity to come —under Chatham House Rule – and discuss our thoughts and insights on the issue of potential fraud and high-risk phone numbers. This will be an open discussion on how to:

• Prioritize conversion and security 
• Reduce wasteful IDV checks 
• Flag potential fraudulent risks 

Panel Discussion 

• Best methods for optimising verification processes in a digital age.
• What role can AI play in ensuring the accuracy and maintenance of customer data?
• Exploring the most effective methods of integrating eKYC and pKYC technologies into existing systems.

Financial institutions have a significant role to play in combating human trafficking.   Learn about human trafficking and how traffickers use financial institutions to run their trafficking operations and launder their illicit proceeds.   Hear from Gina Cavallo who will provide invaluable information about human trafficking and explain how traffickers deceive financial institutions and the public. 

Panel Discussion 

• How has the outcome of the 2024 presidential election affected the approach to sanctions?
• What changes can we expect to see in sanctions regulation and how can compliance teams ensure they are compliant?

Presentation

What can be done to prevent the risk of greenwashing when working with third parties and businesses?

• How can financial institutions ensure EDD practices when working towards their ESG goals?
• What regulations are currently being seen and how can compliance teams ensure they are adhering to them?