Anti-Money Laundering and Financial Crimes Conference

    Anti-Money Laundering and Financial Crimes Conference


    February 26-27, 2013
    New York, New York City  

    Anti-Money Laundering and Financial Crimes Conference 

    Event Overview

    SIFMA's 13th Annual Anti-Money Laundering and Financial Crimes Conference convened leading experts from the industry, regulatory agencies and law enforcement to discuss the most recent developments and requirements in anti-money laundering laws as well as provide practical guidance for implementing robust and effective compliance programs.

    Anti-money laundering compliance is an integral part of a firm's overall compliance program and continues to be a high priority for regulators. Regulators and financial firms are committed to protecting the financial system from bad actors who seek to use it for ill will. Special guest speaker Jennifer Shasky Calvery, Director, FinCEN acknowledged the great deal of time and money spent on programs to comply with Bank Secrecy Act rules, but emphasized the need to ask ourselves if that money is being spent in the right ways. She stated we need to answer the questions together – regulators, law enforcement, and industry - to ensure regulations are effective and cost efficient.

    Event Photos

    Kenneth E. Bentsen, Jr., Acting President & CEO of SIFMA, opens 2013 AML and Financial Crimes Conference saying, "Just as financial institutions should hedge against risks, we must protect against those bad actors who seek to use the financial system for ill will."

    Kenneth E. Bentsen, Jr., Acting President & CEO of SIFMA, opens 2013 AML and Financial Crimes Conference saying, "Just as financial institutions should hedge against risks, we must protect against those bad actors who seek to use the financial system for ill will." Full remarks here.

    Event Photos

    Jennifer Shasky Calvery, Director of Financial Crimes Enforcement Network (FinCEN) delivered the keynote speech. Amongst the key topics she discussed was the new Delta team, formed by regulators and industry participants, including SIFMA reps, to examine compliance costs vs illicit finance risk for effective, cost efficient regulations.

    Jennifer Shasky Calvery, Director of Financial Crimes Enforcement Network (FinCEN) delivered the keynote speech. Amongst the key topics she discussed was the new Delta Team, in which regulators and industry participants, including SIFMA reps, will examine compliance costs vs illicit finance risk for effective, cost efficient regulations.

    Event Photos

    PANEL 1: Panelists from the U.S. Department of Justice – Criminal Division, the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (FINRA) and the securities industry analyzed key themes and lessons learned from recent AML enforcement actions.  

    PANEL 1: Panelists from the U.S. Department of Justice – Criminal Division, the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (FINRA) and the securities industry analyzed key themes and lessons learned from recent AML enforcement actions.

    Event Photos

    PANEL 2: This panel discussed hot topics from the industry's perspective including, the implications of a "level playing field" knowing once size doesn't fit all when it comes to AML compliance and how this could erode the risk-based approach.

    PANEL 2: This panel discussed hot topics from the industry's perspective including the implications of a "level playing field," knowing one size doesn't fit all when it comes to AML compliance, and whether this could erode the risk-based approach.

    Event Photos

    Adam Szubin, Director of Office of Foreign Asset Control (OFAC) outlined the requirements for a successful OFAC compliance program.

    Adam Szubin, Director of Office of Foreign Assets Control (OFAC), outlined the requirements for a successful OFAC compliance program.

    Event Photos

    PANEL 3: This panel discussed AML in 2013, robust and effective technical systems are in place, we must correct for risks that go undetected by these systems.

    PANEL 3: This panel discussed AML  in 2013, including importance of the collaboration between the compliance officers and the business lines as well as between the industry and regulators.  

    Event Photos

    PANEL 4: The last panel of the day focused on enforcement actions involving violations of OFAC and the FCPA, and the lessons learned from those actions for the industry.

    PANEL 4: The last panel of the day focused on enforcement actions involving violations of OFAC and the lessons learned from those actions for the industry.


    Prepared Remarks

    Select Presentations

    Select Handouts

    AML Hot Topics  

    Significant Sanctions Enforcement Actions and Other Financial Crime Development Panel

    Workshops

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