Main Conference Program
Hear top AML experts share guidance and best practices related to the most critical and timely issues affecting the Asia Pacific region. During the question and answer segments, get detailed answers to your most pressing challenges through direct communication with session leaders.
- Understanding and Complying with AML Regulations in the Asia Pacific Region
Among the most pressing questions in the Asia Pacific region is how to effectively satisfy the often conflicting AML regulatory expectations of multiple countries. In this groundbreaking session, hear expert speakers review regional anti-money laundering regulations framed in the context of international expectations. Discover the outcome of the initiatives some banks have undertaken to abide by local regulations and understand how the latest amendments and interpretations by local officials will impact your institution’s ability to conduct business in the Asia Pacific region.
- CASE STUDY
Meeting China’s Enhanced Quality STR Reporting Requirements
In the past, China’s STR reporting requirements have focused on reporting transactions that met certain apparent patterns. As STR processes have evolved, however, reporting expectations have also changed, leaving many financial institutions unclear as to how to best comply. This session will review changes in China’s suspicious transaction reporting requirements and explain the impact of these changes on your AML program. Learn directly from Chinese authorities what they are now expecting regulated institutions to report and hear financial institutions explain how they are meeting these requirements. Don’t miss this chance to understand how to enhance your own reporting processes.
- CASE STUDY
Monitoring and Complying with UN and OFAC Sanctions Requirements
Sanctions management is a critical component of all AML programs. Monitoring multiple lists and navigating through the nuances of differing country requirements for acting on sanctioned parties can be difficult and confusing. As global regulatory attention is gaining more traction, financial institutions must be aware of the latest developments and best practices for designing a cost-effective sanctions monitoring process. Join this informative session to hear how UBS and ASB Bank Ltd. have built compliance programs that effectively mitigate sanctions risk and learn how to adjust your due diligence processes to uncover sanctioned individuals.
- CASE STUDY
Detecting Beneficial Ownership Despite Differing Jurisdictional Requirements
Demonstrating your organization’s commitment to identifying and verifying beneficial owners and enforcing control is imperative in today’s business climate, but how can you achieve this across multiple jurisdictions? How have other financial organizations been successful in determining true beneficial ownership despite layers of secrecy? What is the best way to manage documentation requirements when conducting business with partners in other countries? Attend this informative session to understand how to apply due diligence principles to mitigate the risk of beneficial ownership while adhering to local guidelines.
- CASE STUDY
Conducting Proper KYC Due Diligence
Today more so than ever customers are not as willing to provide intimate details about the origins of their funds. In this session you will hear how banks in the Asia Pacific region are prioritizing their investigation and verification efforts. You’ll learn how to work directly with external sources to ensure you ensure you collect adequate customer information that will lower your exposure to risk and enable you to make sound, informed business decisions about new customers. Walk away with new insight and a clear understanding of how to balance customer relations while expeditiously executing your due diligence efforts.
- CASE STUDY
Identifying and Creating the Right Metrics for your AML and Fraud Programs
In a tight economy, demonstrating the achievements of your compliance program is critical to receiving the ongoing support of your organization. Performance metrics are extremely useful tools to gauge the well-being of your compliance program and assess the performance of your AML and fraud detection processes. Hear expert speakers explain the steps they’ve used to establish metrics-driven performance goals and benchmarks. Learn to develop meaningful metrics that enable detailed trend analysis and fine-tuning of your compliance program.
- CASE STUDY
Adopting Best Practices to Mitigate the Risk of Politically Exposed Persons
As heavy fines have been imposed on financial institutions for conducting business with PEPs without following proper KYC and enhanced due diligence procedures, it is imperative that AML programs incorporate measures to address these risks. As PEP lists expand and definitions shift, your organization’s exposure to risk grows exponentially. But how can you be sure which customers meet PEP criteria —or when they no longer qualify? Attend this session and learn best practices to identify PEPs and steer clear of these risky customers.
- CASE STUDY
Detecting and Preventing Casino-Based Money Laundering and Terrorist Financing Activities
In this session, hear directly from the authorities in Macau, one of the most experienced regions in the Asia Pacific region, how they have improved their institutional capacity to tackle casino-based money laundering and terrorist financing. Learn how financial institutions are combating financial fraud, bribery, embezzlement, organized crime, counterfeiting and drug-related crimes. Walk away armed with new insight to help you prevent these crimes within your own organization. Specific issues to be covered include tips for confirming the identity of clients and the nature of their transactions — and how to make tough decisions regarding clients that refuse to reveal their identity and types of business dealings.
- CASE STUDY
Managing the Money Laundering Risks of Emerging Technologies
A recent research report pegs the volume of global mobile payments at US $60B USD by 2013. With the large volume of money movement m-payments, virtual worlds and stored value payments, enable your institution must update its risk model if it hopes to mitigate exposure to criminal transactions. Hear expert presenters explain how emerging technologies are prime targets for criminal abuse and what you can do today to detect and prevent illegal activity.
- CASE STUDY
Implementing a Risk-Based Approach to your AML/CFT Procedures
Many argue that AML/CFT systems and controls currently in place often are ineffective and bureaucratic and do not address the real risks of money laundering and terrorist financing. Discuss the implementation of an effective risk-based AML/CFT program and the necessary controls in order to properly address the risks. Hear how to manage the real risks while implementing a risk-based approach in your organization.
- CASE STUDY
Lessons Learned from the UBS AG Sanctions: Best Practices for Worldwide Taxation and Cooperation
UBS AG’s admission that it conspired to help US taxpayers evade their income tax obligations sent shock waves through the financial industry. How did one of the world’s largest banks find itself threatened with criminal indictment? How did it find itself entangled in a “John Doe” summons enforcement action? How can financial institutions, regulatory agencies, and law enforcement work together to avoid future such mishaps? What are the best practices now and future?
Hear from the US Justice Department’s lead prosecutors who will share insight on the case, as well as their perspective on how the global AML/CFT community can learn from UBS, instill better KYC practices, and understand the Foreign Tax Account Compliance Act.
- CASE STUDY
Creating and Managing a World-Class AML Program
Creating and managing a global AML program is challenging, especially as every jurisdiction varies. In this session hear how experts created successful global AML programs. Learn the nuts and bolts on how to incorporate local jurisdiction regulations into the global program and walk away with practical insight into how to improve your
existing program.
Program subject to change.
