Identify the source of funds and “follow the money“. Get an aerial view of how the interlocking processes of financial institutions, businesses, government agencies, law enforcement, regulators, etc impact and influence money laundering and money laundering investigations. Identify common weak points of AML regulations, policies, and procedures. Understand risk compliance and reduce risk and improve the effectiveness of your AML program with best practice guidelines of implementing AML regulations, policies, and procedures as it applies to KYC, Transaction Monitoring, SAR writing. Follow sound investigative processes to keep your institution from running afoul of the regulators and/or the reputational damage that could occur from allowing dirty money to flow through your doors.
Participants to understand AML regulations, policies, and procedures that apply to financial institutions, businesses, and branches of law including government agencies and law enforcement. They’ll receive a big picture view on the importance of their organizations AML policies and procedures on money laundering investigations and how that reduces their companies risk. We’ll emphasize the impact and influence AML programs have on the investigative procedure. Finally we’ll reverse engineer the process to indicate why actions taken on the back end are influenced by the AML policy and procedures from the beginning of a relationship.
· Risk Based Approach
· Core Elements
· The Five Pillars of a Quality AML program
· Compliance Culture
Case Studies & Regulatory Actions
· Engage your AML analytical skill set. Strengthen your ability to recognize the 3 W’s, “What Went Wrong”, recognize money laundering methods, identify their financial institution’s vulnerabilities, identify money laundering signals, and understand potential regulatory actions and/or law enforcement engagement.
·Provide attendees with a road map on how they can best fulfill their role in a quality AML program by informing them of the chain of procedures used by other AML professionals such as regulators and law enforcement. This process provides professionals with an understanding of the mechanisms of an AML program better equipping individuals in the application of their AML responsibilities.
· USA Patriot Act
· Financial Action Task Force (FATF)
· European Union (EU) Directives
·Office of Foreign Assets Control (OFAC) / Sanctions
Flex your problem solving muscles and develop your AML analytical skill set to become more effective in your role combating money laundering and reduce the financial crimes risk within your institution or agency.
· Know Your Customer
· Know Your Customer (KYC) and Customer Identification Program (CIP) policies and procedures.
· Customer Due Diligence (CDD) & Enhanced Due Diligence (EDD)
· Counter Terrorism
· Beneficial Ownership
· NY Department of Financial Services (DFS) 504
· Shell Companies
· Transaction Monitoring
· The Alert System
· Suspicious Activity Reporting (SAR)
In depth study on the SAR process and how it weaves its way through on boarding, CDD, transaction monitoring, and SAR development. We’ll finish with how and why information is shared with law enforcement and regulators, what law enforcement and regulators do with that information, and why those methods effect AML policy and procedures.
· Getting to Suspicious/When to File
· Preparing Quality Narrative
· What Happens After the SAR
Coordination Of Financial Institutions And Law Enforcement
· Subpoenas / Search Warrants / National Security Letters
· Meetings with Law Enforcement
· The Enemy Within
· Fictitious ID
· Investigators Tool Box
· Investigators mind set
· Open source intelligence
B Breakout Workshop “You Are the Investigator”
· Develop participants understanding of money laundering processes through the eyes of an Investigator
· Provide participants with the big picture via a situational scenario that must be solved using the skills of an investigator. Outlining why policies and procedures are required to protect their institutions and how those AML policies and procedures are utilized in money laundering investigations.
· Increase participants awareness of the use and importance of AML policies and procedures to safeguard their institutions and the community from criminal activity..
· Real World Application: Review how financial institutions, government agencies, and branches of law assist in deterring criminal activity and help to manage risk..Origin of money laundering
Who Should Attend?
Duration: 60 Minutes
Group of 3 to 5 +1 Thumb Drive or 5 online Recorded version
Group of 6 to 10 +1 Thumb Drive or 10 online Recorded version
Physical CD-DVD of recorded session will be despatched after 72 hrs on completion of payment
Recorded video session
GJ Luchs, PhD (ABD), CAMS, CRMS is a highly experienced and educated BSA/AML and Financial Regulatory Compliance professional with extensive policy and procedure development and implementation, training, internal audit, monitoring, risk management, and reporting experience. Her emphasis has been working with financial institutions that are experiencing regulatory concerns and resolutions, including enforcement actions such as memorandums of understanding and cease and desist orders. Her 15 years of experience has given her the opportunity to work from small community banks to large, international financial institutions. Her roles not only included BSA/AML and Compliance, but also operations, lending services, business development, marketing, management, department development, and asset quality.
GJ Luchs has worked with all of the financial regulators and examiners. She possesses advanced Microsoft Excel, PowerPoint, Word, Internet Explorer, Visio, and Access skills. She also has experience with Fiserv, BAM, CRA Wiz, Teammate, COGNOS, and Metavante banking software. She has been responsible for creating both recurring and ad hoc executive management and board presentations. In addition to her above experience, she is also an adjunct instructor for the business and construction management programs at a local college, as well as writes numerous BSA/AML and Compliance articles, training materials, and manuals as requested from numerous clients.