BSA/ AML - Following the Money, the Difference between Money Laundering and Terrorist Financing and How to Combat Both

Why Should You Attend:

Since the criminalization of money laundering and the creation of Bank Secrecy Act (BSA) provisions, along with the more recent USA Patriot Act, banks have been preventing, identifying and developing ways to stop criminal activity from flowing through their doors. Yet, usually, financial criminals are one step ahead in their schemes and processes compared to governments or banks. How do you combat against what you do not know? How can you prevent something if you are not looking in the right direction?

This webinar highlights the complexities of modern day proactive compliance departments. This course will examine the differences between the confusing and often misapplied terms money laundering (ML) and terrorist financing (TF). Although the crimes independent of each other can be used in conjunction, their concepts, efforts and typologies are different. This course will identify those differences, show how to detect similar cases and ultimately how to protect and defend against these different crimes.

Areas Covered in the Webinar:

• Truly define the terms and crimes of Money Laundering and Terrorist Financing
• Explain how other financial crimes can be part of the ML or TF scheme
• Identifying typologies and concepts of each crime
• Defining a Proactive Compliance Department for;
• Data analysis
• Resource development and training
• Monitoring systems and parameters
• Identifying the attempted or committed crime
• Reporting
• Becoming proactive and not reactive
• Government resources to contact
• Life cycles of Money Laundering and Terrorist Financing crimes
• Banking case studies of current ML & TF approach and their pitfalls

Who Will Benefit:

• Compliance Officers
• Risk Officers
• Internal Auditors
• Operational Risk Managers
• Board of Director Members
• Third party consultants

Jason Simpson
Director, Miami office for Global Atlantic Partners

Jason Simpson, LL.M, CRA, CCA is a Certified Risk Analyst (CRA) and Chartered Compliance Analyst (CCA) and an expert with extensive experience in AML/BSA practices, regulations as well as consulting and training. Mr. Simpson is the Director of the Miami office for Global Atlantic Partners. He works in the Enterprise Risk Management, AML/BSA, Internal Audit, Project Management and Training practice areas. He has worked as a compliance officer in various domestic and international banks over the past 10 years. Aside from his current role and working with both large and small banks on matters related to fraud, AML/BSA, general compliance, risk and audit, he is also an adjunct faculty member for all Compliance and AML courses online at Thomas Jefferson School of Law. He has been certified in Compliance both in the United States and in London. In addition, he has successfully assisted several banks out of MOU’s and C&D orders as well as worked as a Subject Matter Expert (SME) in legal cases. An example of his most recent work, for a large client in the Caribbean, he has developed and rebuilt a complete compliance and transaction monitoring division including new AML systems. He has also developed policies and procedures, programs and assessments for banks and Money Service Businesses domestically and internationally. Recently, he contributed to an article for Off Shore Investment “FATCA Compliance Initiation for a Financial Institution”. Further, he wrote and contributed the first 3 chapters of the published Lexis Nexis Guide to FATCA compliance.

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