We recently held our 2nd Annual Financial Crime & AML Compliance Breakfast event on July 18th, and we couldn’t have asked for better timing! With so many recent AML investigations including ING, HSBC and the Vatican, we knew the sessions would be received well… and we were right! Here’s what a few of our attendees had to say about the breakfast event:
- “Jim Wistman (keynote speaker) is an excellent presenter; he provided knowledgeable information to the audience.”
- “Excellent Forum and Speakers.”
- “Great format; presentations followed by panel discussions.”
Some key points I pulled from the discussions were that when choosing your AML vendors, you need to ask for references and be sure to follow up on them! It seems that most people do not check on the references they receive, but it’s so important to do so since you want to find a service provider who can mold their products to your particular needs. It’s also a great way to see how fast their response time is with other clients, and how hands-on they will be for you.
Also, be sure to test your business lines and have check points so you can see how money is moving. You need eyes on all processes so nothing can slip through the cracks! And be sure to change your focus from “what happened?” to “what is happening?” By doing this, you switch your focus and are able to not only correct past compliance mistakes but look out for future issues and prevent those from happening as well.
All-in-all, we had a great day. Attendees walked away with a firmer grasp of their compliance needs and a better idea of what lies ahead for their compliance teams. Many thanks go out to our speakers and event sponsors, including Fiserv, Genpact, Tripwire and ICS Risk Advisors! We look forward to seeing you all next year!
For some more commentary from our 2nd Annual Financial Crime & AML Compliance Breakfast you should read the recent blog from our FTF News editor, Eugene Grygo. He has some additional comments on the war on financial crime.