Best Practices to Combat Anti Money Laundering Risk

Why Should You Attend:

Financial institutions are continually evolving their systems and processes, and some continue to be challenged by the risk of money laundering and terrorist financing. Recent actions have brought forth regulatory criticisms for ineffective or inadequate programs and lack of risk management. With more scrutiny placed on financial institutions to shore up their programs, it makes good sense to get back to basics and better understand the frameworks around AML risk.

This webinar will cover the industries best practices and information on AML compliance and how can you implement them to your organization. At the end of the session the speaker will also answer your questions related to the topic.

Areas Covered in the Seminar:

• Risk-based approach to AML compliance
• Risk assessment as the foundation and the driver
• Sound techniques for assessing risk
• Each of the key areas are examined
• Risk assessment as ongoing process
• Informs the AML risk exposure
• Identifies gaps in controls
• Drives the AML compliance program including the independent audit

Who will Benefit:

• BSA/AML Compliance Officer
• Compliance Analysts
• Chief Compliance Officers
• Internal Auditors
• Operational Risk Managers

Instructor Profile:

Laura H. Goldzung, CFE, CAMS, CFCF, CCRP, is president and founder of AML Audit Services, LLC (AMLAS), a boutique consultancy specializing in independent testing for anti-money laundering compliance programs for bank and non-bank institutions, and serves as its principal examiner. In addition, her expertise includes custom training, and compliance consulting services, which includes design and development of Bank Secrecy Act/anti-money laundering and anti-fraud compliance programs, risk assessment and analyses, remediation and corrective action programs, and expert witness services. Ms. Goldzung has worked with financial institutions that have been referred to enforcement for BSA/AML violations, helping them to bring their AML programs into compliance.

In a career spanning more than more than 35 years across multiple sectors of the financial services industry, Ms. Goldzung has worked in a variety of executive leadership roles. Since founding AMLAS, she has co-created sector-specific compliance officer certification programs and tours internationally presenting various AML/fraud topics for industry-leading organizations, and has authored a number of articles on the topic of AML.

Ms. Goldzung serves as a dispute resolution arbitrator for the Financial Industry Regulatory Authority (FINRA) and contributes to multiple industry programs. She is active with several industry groups including the Association of Certified AML Specialists, Association of Certified Fraud Examiners, Association of Certified Financial Crime Specialists, National Society of Compliance Professionals, SIFMA Compliance & Legal Society, and the Institute of Internal Auditors. She serves on a variety of industry task forces and committees, and contributes to a number of compliance, industry and university education programs.

Topic Background:

On October 26, 2001, the USA PATRIOT Act was signed into law and obligations were set forth with new anti-money laundering (AML) provisions and amendments to the Bank Secrecy Act (BSA) in an effort to make it easier to prevent, detect, and prosecute money laundering and the financing of terrorism. Financial institutions were required to have a written AML compliance program in place, reasonably designed to achieve and monitor compliance with the requirements of the BSA and the implementing regulations. AML compliance programs are comprised of Four Pillars which include: (1) written policies, procedures and internal controls; (2) designation of a compliance officer; (3) the provision for ongoing training for appropriate personnel; and an independent test.

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