Developing, Implementing, and Maintaining AML and Fraud Deterrence Programs That Will Pass Muster in a Hostile Enforcement Environment, Without Negatively Impacting the Customer/User Experience

March 27, 2015 10:30am

Dawn Steele
Vice President, Global Anti-Money Laundering and Trade Sanctions Officer

Robert Banagale
Gliph, Inc.

John MacKessy
Anti-Money Laundering and Trade Sanctions Officer
MasterCard Worldwide Inc.

Frederick E. Curry III
Deloitte Transactions and Business Analytics LLP

Krista Griffith
Associate General Counsel

  • Striking the proper balance between AML compliance, fraud prevention, and the customer/user experience; legal implications; maintaining customer satisfaction and funds availability while also protecting against fraud and ensuring AML compliance; streamlining the technology and the underlying processes to minimize distractions and inconveniences for customers/users; working with the product team to avoid, or at least minimize, inconveniences for customers/users
  • How AML regulations impact new payment products and systems
  • Best practices for ensuring BSA compliance in the absence of clear guidance
  • Beyond BSA: what other statutes come into play when addressing AML requirements?
  • AML issues arising at the state level
  • Identifying and assessing the money laundering and fraud risks that may arise in conjunction with the development of new payment products, delivery mechanisms, and technologies
  • Best practices for identifying suspicious activity and filing SARs
  • Evaluating your current AML program and identifying gaps or weaknesses
  • Evaluating your current fraud deterrence program and identifying gaps or weaknesses
  • ‘How to’ conduct an AML investigation
  • Determining which parties are responsible for which aspects of AML compliance
  • Working with retailers and other parties to acquire information necessary for AML compliance
  • Drafting contracts and agreements to enhance AML compliance
  • Asset forfeiture/seizure and its implications for emerging payment systems; Issues that arise in these cases; How they are investigated
  • Understanding the fraud risks of emerging payment systems; How these new payment methods are being misused
  • Identifying and combating fraud relating to tax refunds and government benefits
  • Assessing the effectiveness of product safeguards and techniques used to reduce occurrences of fraud and improve risk management
  • Putting holds on accounts that might be compromised
  • Communicating with law enforcement
  • Lawsuits arising from fraud and other criminal abuses of the system